Revolut Gains Permission to Operate in India's Payment Market

The UK fintech has secured Reserve Bank of India approval to issue prepaid cards and digital wallets linked to India's UPI system—the infrastructure that powers most mobile payments there. The authorization removes barriers that blocked international payment firms from serving India's 1.4 billion people. Revolut has 350,000 customers waiting to join and plans to reach 20 million by 2030. The company spent three years navigating Indian regulatory requirements since arriving in 2021.