🐘India🇮🇳: Revolut, the British-Lithuanian bank, receives approval for PPI license

🐘India🇮🇳: Revolut, the British-Lithuanian bank, receives approval for PPI license

"PPI" refers to Prepaid Payment Instruments; and the authorization to use them is granted by the Reserve Bank of India. This approval allows offering multi-currency cards and cross-border money transfer services, thus enhancing financial solutions for Indian consumers.

🐘 Revolut entered the Indian market in 2021, hoping to challenge the existing players in the domestic payment sector. Now, the RBI's approval will strengthen the bank's position as a key player in this area.

🐘 Revolut India has a waiting list of over 175,000 potential customers, indicating strong interest in the product.

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