Revolut is planning to introduce zero-cost money transfer to and from India.
In Brief:
-
CEO Nik Storonsky told the Times of India this would be Revolut’s flagship offering in the country.
-
The FinTech is currently in talks with the Reserve Bank of India, as well as local banks and FinTechs.
-
It plans to offer Indian customers “border-less accounts” to use across the US, Europe and Australia.
What does this mean?
According to the TOI, Storonsky said India could be a big market for Revolut, which hopes to expand its services to Indian customers this year. However this will depend on permissions, partnerships and of course the impact of Covid-19.
