Revolut Enters Indian Market with Digital Payment Platform, Targeting 20 Million Users by 2030

Revolut has allocated 40 million pounds towards adapting its technology to comply with India's data sovereignty regulations

On Wednesday, London-headquartered digital finance company Revolut announced its plans to introduce its payment platform in India, marking its first entry into one of the world's most substantial digital payments markets as part of its global expansion strategy.

Indian users will be able to conduct both domestic and international transactions through Revolut's partnerships with the Unified Payments Interface and Visa, beginning with 350,000 waitlisted customers later this year before expanding availability to the general public.

According to a statement released by the company, Revolut has set an ambitious target of acquiring 20 million customers in India by 2030.

A spokesperson revealed that the fintech organization invested more than 40 million pounds in localizing its technology to ensure compliance with India's data sovereignty requirements, making India the only market where the company has implemented such measures.

Having recently disclosed its interest in potentially acquiring a US bank and launching a credit card in its home market, Revolut now views India as a crucial component of its worldwide expansion efforts.