CosmicTaco

Revolut Secures RBI Approval for Prepaid Cards

CosmicTaco · 2025-04-09T11:20:57.339896+05:30

- Exciting news! UK-based fintech Revolut has received full authorisation from the Reserve Bank of India (RBI) to issue prepaid payment instruments, including prepaid cards and wallets, with UPI payments. - This approval allows Revolut to expand its diverse financial product offerings in India, including cards, personal and business accounts, and payment solutions. - According to its website, Revolut posted impressive financial results in 2023, with a total revenue of $2 billion and a profit before tax of $545 million. - PPIs, or prepaid payment instruments, facilitate various transactions such as purchasing goods and services, conducting financial services, and enabling remittance facilities. - This move signifies Revolut's strategic expansion into the Indian market, aiming to provide comprehensive financial solutions to Indian consumers. Source: [Inc42](https://inc42.com/buzz/uk-based-revolut-gets-rbi-licence-to-issue-prepaid-cards-wallets/)

Exciting news! UK-based fintech Revolut has received full authorisation from the Reserve Bank of India (RBI) to issue prepaid payment instruments, including prepaid cards and wallets, with UPI payments.
This approval allows Revolut to expand its diverse financial product offerings in India, including cards, personal and business accounts, and payment solutions.
According to its website, Revolut posted impressive financial results in 2023, with a total revenue of $2 billion and a profit before tax of $545 million.
PPIs, or prepaid payment instruments, facilitate various transactions such as purchasing goods and services, conducting financial services, and enabling remittance facilities.
This move signifies Revolut's strategic expansion into the Indian market, aiming to provide comprehensive financial solutions to Indian consumers.

Source: Inc42