Revolut Wins RBI Authorization to Launch Prepaid Payments in India

The UK fintech has secured full Reserve Bank of India authorization to issue prepaid cards and UPI-integrated digital wallets. The approval removes cross-border restrictions that have blocked international payment companies from India's 1.4-billion-person market. Revolut has 350,000 customers waitlisted and targets 20 million by 2030. The company established its India presence in 2021 but required three years to navigate RBI's regulatory requirements.