In a move to shortly roll out its digital payments services in India, UK-based fintech major Revolut has opened a 'waitlist’ for Indian users who want to join.
Last October, the company had said that it plans to onboard 3.5 lakh waitlisters, with the app being available for others thereafter.
The fintech will roll out an INR-only prepaid wallet with UPI integration, and Revolut-issued Visa cards for domestic and international use, according to Max Karpis, who claims to be an early investor of the company.
The wallet would enable peer-to-peer transfers, merchant payments, and budgeting tools. UPI access will allow instant transfers (subject to NPCI limits) via QR codes, phone numbers, and contacts along with recurring payments, and will also support biometric authentication, Karpis wrote in a post on X today.
Revolut may also issue virtual and physical prepaid Visa cards sometime later. These can be used at domestic ATMs and POS terminals, as well as for international spends. According to Karpis, the free Standard plan includes two domestic ATM withdrawals per month without charge and basic rewards. Paid tiers start from Rs 499 per annum (Plus category), Rs 2,499 (Premium) and Rs 9,999 (Metal), exclusive of taxes. These users will be able to progressively unlock higher ATM limits (domestic and international), faster rewards accrual, and premium card designs.
ET had earlier reported that the firm has committed over $669 million (about Rs 5,941 crore) for its expansion in India between 2025-2030. The investment is expected to go towards developing new payment and forex products, expanding its global capability centres (GCCs), and securing additional regulatory licences. The company estimates that about 15 crore Indians are actively seeking a solution like Revolut's and aims to onboard 2 crore customers by 2030.
Globally, Revolut currently has over 7 crore 'personal' users and over 5 lakh business users.
Last October, the company had said that it plans to onboard 3.5 lakh waitlisters, with the app being available for others thereafter.
The fintech will roll out an INR-only prepaid wallet with UPI integration, and Revolut-issued Visa cards for domestic and international use, according to Max Karpis, who claims to be an early investor of the company.
The wallet would enable peer-to-peer transfers, merchant payments, and budgeting tools. UPI access will allow instant transfers (subject to NPCI limits) via QR codes, phone numbers, and contacts along with recurring payments, and will also support biometric authentication, Karpis wrote in a post on X today.
Revolut may also issue virtual and physical prepaid Visa cards sometime later. These can be used at domestic ATMs and POS terminals, as well as for international spends. According to Karpis, the free Standard plan includes two domestic ATM withdrawals per month without charge and basic rewards. Paid tiers start from Rs 499 per annum (Plus category), Rs 2,499 (Premium) and Rs 9,999 (Metal), exclusive of taxes. These users will be able to progressively unlock higher ATM limits (domestic and international), faster rewards accrual, and premium card designs.
ET had earlier reported that the firm has committed over $669 million (about Rs 5,941 crore) for its expansion in India between 2025-2030. The investment is expected to go towards developing new payment and forex products, expanding its global capability centres (GCCs), and securing additional regulatory licences. The company estimates that about 15 crore Indians are actively seeking a solution like Revolut's and aims to onboard 2 crore customers by 2030.
Globally, Revolut currently has over 7 crore 'personal' users and over 5 lakh business users.