Revolut plans to launch payment platform in India – report

Core Insights - UK-based digital finance firm Revolut is planning to launch its payment platform in India, marking its first entry into one of the largest digital payments markets globally [1] - The fintech aims to partner with the Unified Payments Interface (UPI) and Visa to facilitate both domestic and international transactions for users in India [1] - Revolut has a waitlist of 350,000 customers in India, with services expected to roll out later this year [2] Expansion Plans - Revolut plans to leverage a prepaid payment instrument license obtained from the Reserve Bank of India to provide domestic payment services [3] - The company also holds a license to offer foreign exchange services in India [3] - Revolut aims to reach 100 million customers globally by 2027 and expand into over 30 new markets by 2030 [4] Recent Developments - Revolut recently opened its new global headquarters in London's Canary Wharf and reported surpassing 65 million customers worldwide [4] - The firm is also exploring the acquisition of a US bank and plans to launch credit cards in its home market [2] - Additionally, Revolut is looking to apply for a banking license in South Africa, working closely with the South African Reserve Bank [4]