British fintech Revolut — now launching in India — 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 — fees its India head calls “criminal.”
“It has been the preserve of banks,” Paroma Chatterjee, Revolut India CEO, told TechCrunch. “You go to your bank to take currency, foreign exchange out from your bank, or you take a travel card that is issued by your bank when you’re traveling overseas … there have been humongous charges which have been levied on this.”
Since 2021, Revolut has been working toward its India launch, aiming to fill what it sees as gaps in the country’s foreign exchange and traditional payments spaces. The London-headquartered fintech acquired Arvog Forex in 2022 to obtain a license and offer remittance and multi-currency account services in India. In April this year, it also secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, allowing it to issue prepaid cards, support digital wallets and integrate with the government-backed Unified Payments Interface (UPI).
With these regulatory approvals, Revolut aims to challenge traditional banks in India and compete with existing fintech players. The British startup is targeting more than 150 million “globally aspiring, digitally native” Indians aged between 25 and 45, with plans to onboard about 20 million users by 2030 and process at least $7 billion worth of their transactions.
Chatterjee said that such regulatory approvals — including the PPI license — allows the fintech to offer a more differentiated experience than players that rely on bank partnerships. “We can deliver the kind of customer experience that we want to deliver,” she said.
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.
Notably, the startup has regulatory permissions to enable both domestic and international payments and transfers through its platform. It also has authorization to enable same-day remittances from India through a local bank partner.
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Unlike many Indian fintech players that use minimum know-your-customer (KYC) checks to quickly onboard users for limited, low-value transactions, Revolut will offer only full-KYC wallets. The fintech will also verify new users against global sanctions lists, including those maintained by the Office of Foreign Assets Control and the United Nations. This approach, Chatterjee said, is aimed at attracting “high-intent customers” who are willing to complete a more detailed onboarding process, including Aadhaar and video verification.
“Somebody would do that only if they’re interested in using the product. So, this full KYC customer onboarded is going to be my customer metric,” she noted.
“In a country like India, once you list yourself on the App Store, sheer curiosity drives downloads,” she said. “That’s not our metric of success.”
The fintech also aims to measure its success in India by the depth of user engagement and profitability and not merely increasing its user base.
“There are people who talk about having 300–400 million customers,” Chatterjee told TechCrunch. “Revolut globally in 39 countries has 65 million customers, and it is valued at $75 billion. The reason is that from these 65 million customers, Revolut is processing more than $4 billion worth of transactions and delivering more than a billion dollars worth of profit. And that is because out of those 65 million customers in any given month, more than 25 million customers are active.”
She’s referring to the the new valuation Revolut announced last month on the back of a secondary share sale, that boosted it from $45 billion last summer.
Revolut already has a waitlist of more than 350,000 people in India, she also said, which it plans to onboard by later this year before opening the app to new users. The exact launch timeline, however, will depend on how quickly the company clears the waitlist and customers complete their KYC and anti–money laundering (AML) checks.
The startup is also exploring partners other than Visa, including the Indian government’s RuPay, as it ramps up the product to provide customers with a choice of networks.
Revolut has already infused $45 million in India to kickstart its operations and to localize its entire tech stack to conform to the country’s data sovereignty regulations. It plans to invest more as it begins its operations, Chatterjee said.
Of Revolut’s 10,000 employees worldwide, about 3,500 are already based in India — its largest workforce globally, even bigger than in its home market of the U.K. Some of these employees also work on the products and features available in markets outside India.
But as significant as Revolut’s plans are, it will still face competition once it arrives. While foreign exchange is dominated by banks in India, fintech players such as Niyo, Scapia, Fi, and BookMyForex are already active in India’s cross-border and remittance market.
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#Revolut #aims #Indian #banks #criminal #forex #fees #TechCrunch
![Sam Altman’s project World looks to scale its human verification empire. First stop: Tinder. | TechCrunch
At a trendy venue near the San Francisco pier, Sam Altman’s verification project World celebrated its next evolution and rapid expansion of its ambitions. And it’s starting with Tinder.
Tools for Humanity (TFH), the company behind the World project, announced Friday plans to integrate its verification tech into dating apps, event and concert ticketing systems, business organizations, email, and other arenas of public life.
“The world is getting close to very powerful AI, and this is doing a lot of wonderful things,” said Altman, speaking before a packed crowd at The Midway. “We are also heading to a world now where there’s going to be more stuff generated by AI than by humans,” he added. “I’m sure many of you [have had moments] where you’re like, ‘Am I interacting with an AI or a person, or how much of each, and how do I know?”
World (formerly Worldcoin) distinguishes itself from many of its ID verification peers by offering the ability to verify that a real, living human is using a digital service while still protecting that person’s anonymity. There is some complex cryptographic alchemy behind this (something called “zero-knowledge proof-based authentication”). The upshot: The company is creating what it calls “proof of human” tools, which are mechanisms that can verify human activity in a world rife with AI agents and bots.
Its chief tool for verification is a spherical digital reader called the Orb that scans a user’s eyes, converting their iris into a unique and anonymous cryptographic identifier (known as a verified World ID). This can then be used to access World’s services, although users can also access World’s app without one.
Altman kept his remarks brief on Friday (TFH’s co-founder and CEO, Alex Blania, was absent due to a last-minute hand surgery, Altman said). He then turned much of the presentation over to World’s chief product officer, Tiago Sada, and his team.
Sada explained that World was launching the newest version of its app (the last version was launched at an event in December), along with a plethora of new integrations for its technology.
World has been preparing, for some time, to deploy a verification service for dating apps — most notably, Tinder. Last year, Tinder launched a World ID pilot program in Japan. That pilot was apparently a success because World announced that Tinder would be launching its verification integration in global markets —including the U.S. The program integrates a World ID emblem into the profiles of users who have gone through its verification processes, thus authenticating them as a real person.
Image Credits:World
World is also courting the entertainment industry by launching a new feature called Concert Kit, where musical artists can reserve a certain number of concert tickets for World ID-verified humans. This is designed to ensure that fans are safe from scalpers who often use automated ticket-buying bots to scarf up seats. Concert Kit is compatible with major ticketing systems, including Ticketmaster and Eventbrite, and the company is promoting it via partnerships with 30 Seconds to Mars and Bruno Mars — both of whom plan to use it for their upcoming tours.
The event was full of many other announcements, including some aimed at businesses. A Zoom/World ID verification integration seeks to battle a supposed deepfake threat to business calls, and a Docusign partnership is designed to ensure signatures come from authentic users.
The company is also working on a number of features in anticipation of the Wild West of the agentic web, including one called “agent delegation,” in which a person can delegate their World ID to an agent to carry out online activities on their behalf. A partnership with authentication firm Okta has also created a system (currently in beta) that verifies that an agent is acting on behalf of a human. The system is set up so that a World ID can be tied to a specific agent and then, when the agent goes out into the web to operate on that person’s behalf, websites will know a verified person is behind the behavior, said Okta’s chief product officer, Gareth Davies, at the event.
So far, it’s been difficult for World to scale, due largely to the verification process itself. For much of the company’s history, to get its gold standard, you had to travel to one of its offices and have your eyeballs scanned by an Orb — a fairly inconvenient (not to mention weird) experience.
Image Credits:World
However, World has continually made moves to increase the ease and incentive structure for verification. In the past, it offered its crypto asset, Worldcoin, to some members who signed up and has distributed its Orbs into big retail chains so that users can verify themselves while they’re out shopping or getting a coffee. Now the company is announcing that it is significantly expanding its Orb saturation in New York, Los Angeles, and San Francisco. The company also promoted a service where interested users could have World bring an Orb to their location for remote verification.
In a conversation with TechCrunch, Sada also shared that World has attempted to solve the scaling problem by creating different tiers of verification. The highest tier is Orb verification, but below that, World has previously offered a mid-level tier, which uses an anonymized scan of an official government ID via the card’s NFC chip.
The company also introduced a low-level tier, or what Sada called “low friction”— meaning low effort, I guess, but also “low security” — which involves merely taking a selfie.
Selfie Check, which Sada’s team presented during the event, is designed to maintain user privacy.
“Selfie is private by design,” said Daniel Shorr, one of TFH’s executives, during the presentation. “That means that we maximize the local processing that’s happening on your device, on your phone, which means that your images are yours.”
Selfie verification obviously isn’t new, and fraudsters have long managed to spoof it. “Obviously, we do our best, and it’s like one of the best systems that you’ll see for this. But it has limits,” Sada told TechCrunch. Developers looking to integrate World’s services can choose from the three different verification tiers depending on the level of security that’s important to them, he noted.
#Sam #Altmans #project #World #scale #human #verification #empire #stop #Tinder #TechCrunchDocuSign,sam altman,Tinder,World,Worldcoin,zoom](https://techcrunch.com/wp-content/uploads/2026/04/Screenshot-2026-04-17-at-1.55.00-PM.png?w=680 "Sam Altman’s project World looks to scale its human verification empire. First stop: Tinder. | TechCrunch
At a trendy venue near the San Francisco pier, Sam Altman’s verification project World celebrated its next evolution and rapid expansion of its ambitions. And it’s starting with Tinder.
Tools for Humanity (TFH), the company behind the World project, announced Friday plans to integrate its verification tech into dating apps, event and concert ticketing systems, business organizations, email, and other arenas of public life.
“The world is getting close to very powerful AI, and this is doing a lot of wonderful things,” said Altman, speaking before a packed crowd at The Midway. “We are also heading to a world now where there’s going to be more stuff generated by AI than by humans,” he added. “I’m sure many of you [have had moments] where you’re like, ‘Am I interacting with an AI or a person, or how much of each, and how do I know?”
World (formerly Worldcoin) distinguishes itself from many of its ID verification peers by offering the ability to verify that a real, living human is using a digital service while still protecting that person’s anonymity. There is some complex cryptographic alchemy behind this (something called “zero-knowledge proof-based authentication”). The upshot: The company is creating what it calls “proof of human” tools, which are mechanisms that can verify human activity in a world rife with AI agents and bots.
Its chief tool for verification is a spherical digital reader called the Orb that scans a user’s eyes, converting their iris into a unique and anonymous cryptographic identifier (known as a verified World ID). This can then be used to access World’s services, although users can also access World’s app without one.
Altman kept his remarks brief on Friday (TFH’s co-founder and CEO, Alex Blania, was absent due to a last-minute hand surgery, Altman said). He then turned much of the presentation over to World’s chief product officer, Tiago Sada, and his team.
Sada explained that World was launching the newest version of its app (the last version was launched at an event in December), along with a plethora of new integrations for its technology.
World has been preparing, for some time, to deploy a verification service for dating apps — most notably, Tinder. Last year, Tinder launched a World ID pilot program in Japan. That pilot was apparently a success because World announced that Tinder would be launching its verification integration in global markets —including the U.S. The program integrates a World ID emblem into the profiles of users who have gone through its verification processes, thus authenticating them as a real person.
Image Credits:World
World is also courting the entertainment industry by launching a new feature called Concert Kit, where musical artists can reserve a certain number of concert tickets for World ID-verified humans. This is designed to ensure that fans are safe from scalpers who often use automated ticket-buying bots to scarf up seats. Concert Kit is compatible with major ticketing systems, including Ticketmaster and Eventbrite, and the company is promoting it via partnerships with 30 Seconds to Mars and Bruno Mars — both of whom plan to use it for their upcoming tours.
The event was full of many other announcements, including some aimed at businesses. A Zoom/World ID verification integration seeks to battle a supposed deepfake threat to business calls, and a Docusign partnership is designed to ensure signatures come from authentic users.
The company is also working on a number of features in anticipation of the Wild West of the agentic web, including one called “agent delegation,” in which a person can delegate their World ID to an agent to carry out online activities on their behalf. A partnership with authentication firm Okta has also created a system (currently in beta) that verifies that an agent is acting on behalf of a human. The system is set up so that a World ID can be tied to a specific agent and then, when the agent goes out into the web to operate on that person’s behalf, websites will know a verified person is behind the behavior, said Okta’s chief product officer, Gareth Davies, at the event.
So far, it’s been difficult for World to scale, due largely to the verification process itself. For much of the company’s history, to get its gold standard, you had to travel to one of its offices and have your eyeballs scanned by an Orb — a fairly inconvenient (not to mention weird) experience.
Image Credits:World
However, World has continually made moves to increase the ease and incentive structure for verification. In the past, it offered its crypto asset, Worldcoin, to some members who signed up and has distributed its Orbs into big retail chains so that users can verify themselves while they’re out shopping or getting a coffee. Now the company is announcing that it is significantly expanding its Orb saturation in New York, Los Angeles, and San Francisco. The company also promoted a service where interested users could have World bring an Orb to their location for remote verification.
In a conversation with TechCrunch, Sada also shared that World has attempted to solve the scaling problem by creating different tiers of verification. The highest tier is Orb verification, but below that, World has previously offered a mid-level tier, which uses an anonymized scan of an official government ID via the card’s NFC chip.
The company also introduced a low-level tier, or what Sada called “low friction”— meaning low effort, I guess, but also “low security” — which involves merely taking a selfie.
Selfie Check, which Sada’s team presented during the event, is designed to maintain user privacy.
“Selfie is private by design,” said Daniel Shorr, one of TFH’s executives, during the presentation. “That means that we maximize the local processing that’s happening on your device, on your phone, which means that your images are yours.”
Selfie verification obviously isn’t new, and fraudsters have long managed to spoof it. “Obviously, we do our best, and it’s like one of the best systems that you’ll see for this. But it has limits,” Sada told TechCrunch. Developers looking to integrate World’s services can choose from the three different verification tiers depending on the level of security that’s important to them, he noted.
#Sam #Altmans #project #World #scale #human #verification #empire #stop #Tinder #TechCrunchDocuSign,sam altman,Tinder,World,Worldcoin,zoom")
![Sam Altman’s project World looks to scale its human verification empire. First stop: Tinder. | TechCrunch
At a trendy venue near the San Francisco pier, Sam Altman’s verification project World celebrated its next evolution and rapid expansion of its ambitions. And it’s starting with Tinder.
Tools for Humanity (TFH), the company behind the World project, announced Friday plans to integrate its verification tech into dating apps, event and concert ticketing systems, business organizations, email, and other arenas of public life.
“The world is getting close to very powerful AI, and this is doing a lot of wonderful things,” said Altman, speaking before a packed crowd at The Midway. “We are also heading to a world now where there’s going to be more stuff generated by AI than by humans,” he added. “I’m sure many of you [have had moments] where you’re like, ‘Am I interacting with an AI or a person, or how much of each, and how do I know?”
World (formerly Worldcoin) distinguishes itself from many of its ID verification peers by offering the ability to verify that a real, living human is using a digital service while still protecting that person’s anonymity. There is some complex cryptographic alchemy behind this (something called “zero-knowledge proof-based authentication”). The upshot: The company is creating what it calls “proof of human” tools, which are mechanisms that can verify human activity in a world rife with AI agents and bots.
Its chief tool for verification is a spherical digital reader called the Orb that scans a user’s eyes, converting their iris into a unique and anonymous cryptographic identifier (known as a verified World ID). This can then be used to access World’s services, although users can also access World’s app without one.
Altman kept his remarks brief on Friday (TFH’s co-founder and CEO, Alex Blania, was absent due to a last-minute hand surgery, Altman said). He then turned much of the presentation over to World’s chief product officer, Tiago Sada, and his team.
Sada explained that World was launching the newest version of its app (the last version was launched at an event in December), along with a plethora of new integrations for its technology.
World has been preparing, for some time, to deploy a verification service for dating apps — most notably, Tinder. Last year, Tinder launched a World ID pilot program in Japan. That pilot was apparently a success because World announced that Tinder would be launching its verification integration in global markets —including the U.S. The program integrates a World ID emblem into the profiles of users who have gone through its verification processes, thus authenticating them as a real person.
Image Credits:World
World is also courting the entertainment industry by launching a new feature called Concert Kit, where musical artists can reserve a certain number of concert tickets for World ID-verified humans. This is designed to ensure that fans are safe from scalpers who often use automated ticket-buying bots to scarf up seats. Concert Kit is compatible with major ticketing systems, including Ticketmaster and Eventbrite, and the company is promoting it via partnerships with 30 Seconds to Mars and Bruno Mars — both of whom plan to use it for their upcoming tours.
The event was full of many other announcements, including some aimed at businesses. A Zoom/World ID verification integration seeks to battle a supposed deepfake threat to business calls, and a Docusign partnership is designed to ensure signatures come from authentic users.
The company is also working on a number of features in anticipation of the Wild West of the agentic web, including one called “agent delegation,” in which a person can delegate their World ID to an agent to carry out online activities on their behalf. A partnership with authentication firm Okta has also created a system (currently in beta) that verifies that an agent is acting on behalf of a human. The system is set up so that a World ID can be tied to a specific agent and then, when the agent goes out into the web to operate on that person’s behalf, websites will know a verified person is behind the behavior, said Okta’s chief product officer, Gareth Davies, at the event.
So far, it’s been difficult for World to scale, due largely to the verification process itself. For much of the company’s history, to get its gold standard, you had to travel to one of its offices and have your eyeballs scanned by an Orb — a fairly inconvenient (not to mention weird) experience.
Image Credits:World
However, World has continually made moves to increase the ease and incentive structure for verification. In the past, it offered its crypto asset, Worldcoin, to some members who signed up and has distributed its Orbs into big retail chains so that users can verify themselves while they’re out shopping or getting a coffee. Now the company is announcing that it is significantly expanding its Orb saturation in New York, Los Angeles, and San Francisco. The company also promoted a service where interested users could have World bring an Orb to their location for remote verification.
In a conversation with TechCrunch, Sada also shared that World has attempted to solve the scaling problem by creating different tiers of verification. The highest tier is Orb verification, but below that, World has previously offered a mid-level tier, which uses an anonymized scan of an official government ID via the card’s NFC chip.
The company also introduced a low-level tier, or what Sada called “low friction”— meaning low effort, I guess, but also “low security” — which involves merely taking a selfie.
Selfie Check, which Sada’s team presented during the event, is designed to maintain user privacy.
“Selfie is private by design,” said Daniel Shorr, one of TFH’s executives, during the presentation. “That means that we maximize the local processing that’s happening on your device, on your phone, which means that your images are yours.”
Selfie verification obviously isn’t new, and fraudsters have long managed to spoof it. “Obviously, we do our best, and it’s like one of the best systems that you’ll see for this. But it has limits,” Sada told TechCrunch. Developers looking to integrate World’s services can choose from the three different verification tiers depending on the level of security that’s important to them, he noted.
#Sam #Altmans #project #World #scale #human #verification #empire #stop #Tinder #TechCrunchDocuSign,sam altman,Tinder,World,Worldcoin,zoom](https://i2.wp.com/techcrunch.com/wp-content/uploads/2026/04/Screenshot-2026-04-17-at-1.55.00-PM.png?w=680&ssl=1 "Sam Altman’s project World looks to scale its human verification empire. First stop: Tinder. | TechCrunch
At a trendy venue near the San Francisco pier, Sam Altman’s verification project World celebrated its next evolution and rapid expansion of its ambitions. And it’s starting with Tinder.
Tools for Humanity (TFH), the company behind the World project, announced Friday plans to integrate its verification tech into dating apps, event and concert ticketing systems, business organizations, email, and other arenas of public life.
“The world is getting close to very powerful AI, and this is doing a lot of wonderful things,” said Altman, speaking before a packed crowd at The Midway. “We are also heading to a world now where there’s going to be more stuff generated by AI than by humans,” he added. “I’m sure many of you [have had moments] where you’re like, ‘Am I interacting with an AI or a person, or how much of each, and how do I know?”
World (formerly Worldcoin) distinguishes itself from many of its ID verification peers by offering the ability to verify that a real, living human is using a digital service while still protecting that person’s anonymity. There is some complex cryptographic alchemy behind this (something called “zero-knowledge proof-based authentication”). The upshot: The company is creating what it calls “proof of human” tools, which are mechanisms that can verify human activity in a world rife with AI agents and bots.
Its chief tool for verification is a spherical digital reader called the Orb that scans a user’s eyes, converting their iris into a unique and anonymous cryptographic identifier (known as a verified World ID). This can then be used to access World’s services, although users can also access World’s app without one.
Altman kept his remarks brief on Friday (TFH’s co-founder and CEO, Alex Blania, was absent due to a last-minute hand surgery, Altman said). He then turned much of the presentation over to World’s chief product officer, Tiago Sada, and his team.
Sada explained that World was launching the newest version of its app (the last version was launched at an event in December), along with a plethora of new integrations for its technology.
World has been preparing, for some time, to deploy a verification service for dating apps — most notably, Tinder. Last year, Tinder launched a World ID pilot program in Japan. That pilot was apparently a success because World announced that Tinder would be launching its verification integration in global markets —including the U.S. The program integrates a World ID emblem into the profiles of users who have gone through its verification processes, thus authenticating them as a real person.
Image Credits:World
World is also courting the entertainment industry by launching a new feature called Concert Kit, where musical artists can reserve a certain number of concert tickets for World ID-verified humans. This is designed to ensure that fans are safe from scalpers who often use automated ticket-buying bots to scarf up seats. Concert Kit is compatible with major ticketing systems, including Ticketmaster and Eventbrite, and the company is promoting it via partnerships with 30 Seconds to Mars and Bruno Mars — both of whom plan to use it for their upcoming tours.
The event was full of many other announcements, including some aimed at businesses. A Zoom/World ID verification integration seeks to battle a supposed deepfake threat to business calls, and a Docusign partnership is designed to ensure signatures come from authentic users.
The company is also working on a number of features in anticipation of the Wild West of the agentic web, including one called “agent delegation,” in which a person can delegate their World ID to an agent to carry out online activities on their behalf. A partnership with authentication firm Okta has also created a system (currently in beta) that verifies that an agent is acting on behalf of a human. The system is set up so that a World ID can be tied to a specific agent and then, when the agent goes out into the web to operate on that person’s behalf, websites will know a verified person is behind the behavior, said Okta’s chief product officer, Gareth Davies, at the event.
So far, it’s been difficult for World to scale, due largely to the verification process itself. For much of the company’s history, to get its gold standard, you had to travel to one of its offices and have your eyeballs scanned by an Orb — a fairly inconvenient (not to mention weird) experience.
Image Credits:World
However, World has continually made moves to increase the ease and incentive structure for verification. In the past, it offered its crypto asset, Worldcoin, to some members who signed up and has distributed its Orbs into big retail chains so that users can verify themselves while they’re out shopping or getting a coffee. Now the company is announcing that it is significantly expanding its Orb saturation in New York, Los Angeles, and San Francisco. The company also promoted a service where interested users could have World bring an Orb to their location for remote verification.
In a conversation with TechCrunch, Sada also shared that World has attempted to solve the scaling problem by creating different tiers of verification. The highest tier is Orb verification, but below that, World has previously offered a mid-level tier, which uses an anonymized scan of an official government ID via the card’s NFC chip.
The company also introduced a low-level tier, or what Sada called “low friction”— meaning low effort, I guess, but also “low security” — which involves merely taking a selfie.
Selfie Check, which Sada’s team presented during the event, is designed to maintain user privacy.
“Selfie is private by design,” said Daniel Shorr, one of TFH’s executives, during the presentation. “That means that we maximize the local processing that’s happening on your device, on your phone, which means that your images are yours.”
Selfie verification obviously isn’t new, and fraudsters have long managed to spoof it. “Obviously, we do our best, and it’s like one of the best systems that you’ll see for this. But it has limits,” Sada told TechCrunch. Developers looking to integrate World’s services can choose from the three different verification tiers depending on the level of security that’s important to them, he noted.
#Sam #Altmans #project #World #scale #human #verification #empire #stop #Tinder #TechCrunchDocuSign,sam altman,Tinder,World,Worldcoin,zoom")
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