The British fintech company Revolut will launch a payment platform in India.

Revolut, the British fintech unicorn, officially enters the Indian payment market through a partnership with Payment Rails to launch a digital payment platform integrated with UPI and Visa. This is a strategic move in Revolut's ambition for global expansion, with over £40 million in investment to meet localization requirements and data regulations in India.

In the initial phase, Revolut will roll out to 350,000 people on the waiting list, aiming for 20 million users by 2030. The service provides an e-wallet linked to prepaid cards, supports domestic and international payments, and acts as a bridge between India and the global financial system.

However, the company faces fierce competition from Paytm, PhonePe, and Google Pay, along with regulatory compliance challenges. If successful, Revolut could drive innovation and financial inclusion in the Indian payment ecosystem.