News Summary

• British fintech Revolut says cross-border payments remain one of India’s most underserved financial services.
• By its estimate, Indians spend about $30 billion overseas every year and lose around $600 million in bank charges.
• The startup is targeting more than 150 million “globally aspiring, digitally native” Indians aged between 25 and 45.
• It plans to onboard about 20 million users by 2030 and process at least $7 billion worth of their transactions.Revolut will offer Indian consumers a prepaid wallet with UPI support and its own branded UPI handles, along with a domestic Visa card and an international multi-currency Visa card.
• It will also introduce dedicated kids and teens accounts linked to parents’ profiles, a subscription-based model, and budgeting and analytics tools that provide insights into spending habits.