Revolut Set to Launch in India with Prepaid Card and Digital Wallet
Revolut, the London-based digital finance firm, is set to enter the Indian stock market later this year. The company will offer a prepaid card and a digital wallet to Indian stock market today users, marking its first entry into the world's second-most populous nation. This move comes after Revolut invested over £40 million to localise its technology to meet India's data sovereignty rules. The platform will initially be rolled out to 350,000 waitlisted customers before being opened to the wider public. It will enable users to make both domestic and international payments through partnerships with UPI and Visa. Revolut will operate in the Indian stock market using a prepaid payment instrument license and a forex services license, both secured from the Reserve Bank of India. Revolut aims to acquire 20 million customers in the Indian stock market by 2030, focusing on the 'aspirational youth' demographic. The company has performed specific technology localisation to meet India's data sovereignty rules, making it the only market where Revolut has done so. Revolut's official launch in the Indian stock market is scheduled for later in 2025. The company's entry into the Indian stock market is expected to bring innovative digital payment services to users, capitalising on the country's growing digital payments market.
