The Distillery: Revolut's India Roll-out, and AT&T, Verizon and T-Mobile's Satellite Collaboration

June 2026

Telecoms & Connectivity

Juniper Research

Analyst House

In this edition:

• Revolut begins India roll-out to 450,000 waitlisted users, but with neobank competition so fierce in this market, what can Revolut do to differentiate itself? 
• U-Cell and ZTE deploy a new AI-RAN solution that improves energy efficiency and could point the way to a sustainable green future in telecoms.
• AT&T, Verizon and T-Mobile collaborate on satellite-enabled coverage which could signal an end to coverage being a point of differentiation for MNOs.
• Our latest free reports exploring the cost of payments and systems fragmentation with Payabl., and the global state of the cross-border payments market with Thunes.

FINTECH & PAYMENTS

Revolut Begins India Roll-out to 450,000 Waitlisted Users

Revolut has begun to roll out services in India; granting access to the 450,000 users who signed up to their app earlier this year.  These users are now being onboarded into the company's beta programme; gaining access to a localised version of the Revolut app.

Through the beta offering, enrolled users can use UPI payments, digital wallets, multi-currency cards and virtual cards. This expansion has been in the works since 2021; fuelled by an acquisition of Arvog Forex in 2022 to secure local remittance and multi-currency accounts to Indian customers. Over the last year, Revolut received a prepaid payment instrument licence from the Reserve Bank of India, which allows it to integrate with the widely used UPI network, and issue local prepaid cards. These developments have positioned Revolut well for its eventual Indian launch; ensuring that all services are in place before the roll-out began.

Distilled…

🟣 Heavy Neobank Competitive Environment: India presents as a significant growth opportunity, which many companies are working to realise. As a European-based digital-only bank, Revolut may struggle when competing with multiple other local digital payments fintechs. PhonePe and Paytm and both popular apps that provide money transfer capabilities, savings, and insurance. These each have 700 million and 300 million Indian users respectively. Revolut may find it difficult to break into a market where its basic capabilities are already provided by competitors who are entrenched in the local market.

🟣 Cross-border Remittance Payments Forms Revolut’s Competitive Edge: Revolut has extensive experience in the cross-border payments market, and rose to prominence in Europe with its initial offering of fee-free FX services for international card payments, as well as its simple user interface for sending digital remittance payments. As India is one of the largest recipients of remittances, Revolut’s global capabilities may be able to carve a niche within those engaging in cross-border payments.

MORE FINTECH INSIGHTS

💸 Sophisticated Microfinance Services Spend to Surpass $22 Billion By 2030 [Research]

📱 Monzo Takes Another Step Towards Super-app Status with the Launch of Its Mobile Plan [Blog]

🏦 Pay by Bank Pursues the American Dream [Blog]

FINTECH & PAYMENTS

Free Report: Solving Financial Fragmentation for Modern Businesses

For most businesses, fragmented payments and systems are no longer just an operational issue. They’re a direct constraint on growth.

This free whitepaper, produced in collaboration with Payabl., shows that around 80% of the impact is recoverable, but only when fragmentation starts being treated as a strategic priority.

Download the full report for more insights

GET THE WHITEPAPER

TELECOMS & CONNECTIVITY

Ucell and ZTE’s AI-RAN Solution Improves Data Energy Efficiency by 10%

On 26th May 2026, ZTE and Ucell announced they had completed deployment of an AI-powered energy-saving solution in Uzbekistan. The solution has improved network energy efficiency ratio (data traffic delivered per kilowatt‑hour); meaning 10.6% more data can be delivered for every unit of electricity consumed.

The green energy solution covers the entirety of Ucell’s commercial RAN network; deploying dual‑layer AI architecture to dynamically optimise energy use from real‑time traffic, to lower both carbon emissions and operational costs. The solution also automatically exits the energy‑saving mode if data delivery KPIs fall below set thresholds, to ensure a good user experience and network reliability.

Distilled…

🟣 ZTE and Ucell have stressed that the solution is designed to ensure no impact to network user experience by conducting real‑time monitoring before, during, and after energy‑saving actions. The solution monitors preset KPIs for data speed and throughput, and will automatically exit energy‑saving mode if the network becomes too slow.

🟣 The partners say the successful implementation sets a benchmark for green network operations in the region; showcasing how intelligent AI automation can drive both ecological and economic benefits in modern telecoms. Andrey Shishkovsky, CEO of Ucell, added: "[This is a] decisive step toward reducing our carbon footprint and improving operational efficiency. The results prove that smart networks are not just the future – they are already delivering tangible benefits to our business and the planet today."

🟣 Green initiatives are proving a key differentiator for telcos, as consumers increasingly demand sustainable connectivity and the sector pushes towards achieving net zero. According to data from GSMA Intelligence, renewables accounted for approximately 30% of total telco energy consumption in 2024, up 10 percentage points on 2023, while grid power continues to provide most of the sector's energy, with about 75% consumed by mobile RAN networks.

MORE TELECOMMUNICATIONS INSIGHTS

🛰️ Direct to Cell: Monthly Active Users to Reach Over 130 Million by 2031 [Research]

🌍Juniper Research Predicts the US and South Korea Will Lead 6G Launches in 2029 [Research]

📲 Learning from 5G - How MNOs Can Make 6G a Success [Whitepaper]

📈 AI Will Monetise 5G By Making It Cheaper [Blog]

FINTECH & PAYMENTS

Free Report: The Thunes Cross-border Payments Interoperability Index 2026

Where does cross-border payment friction actually sit? And which countries are addressing it best?

Thunes and Juniper Research have published the first Cross-Border Payments Interoperability Index, ranking 50 countries across digital infrastructure, financial inclusion, cross-border connectivity and market readiness, to answer such questions.

This global report reveals a widening gap between seamless domestic payments and fragmented global rails, where dissatisfied users are accelerating new trends as they seek cross-border solutions that actually meet their needs.

Download now for more insights:

GET THE WHITEPAPER

TELECOMS & CONNECTIVITY

The End of the Dead Zone? Why Mobile Operators Are Embracing Satellite Connectivity

What happens when the three largest mobile operators in the US decide that competing on network coverage no longer makes sense? The recent decision by Verizon, AT&T, and T-Mobile to collaborate on satellite-enabled coverage signals a significant shift in telecom strategy. For decades, network reach was one of the industry’s most important competitive battlegrounds. Today, however, the emergence of direct-to-device satellite connectivity is encouraging operators to view ubiquitous coverage as a shared infrastructure challenge, rather than a point of differentiation.

For the wider telecom ecosystem, this development reflects the growing integration of satellite and terrestrial networks. As coverage gaps become easier to address, connectivity is likely to become more consistent across remote, rural, and hard-to-reach environments. This has implications for a range of sectors, including transportation, energy, agriculture, aviation, and maritime, where reliable connectivity has traditionally been difficult to achieve. It also highlights the increasing importance of collaboration between mobile operators, satellite providers, device manufacturers, and other technology partners as the market adapts to a more interconnected network landscape.

Distilled…

🟣 Satellite-terrestrial convergence is creating new revenue opportunities. Operators and technology providers can leverage integrated networks to deliver new enterprise, IoT, and industry-specific services.

🟣 Partnerships will be critical to success. Collaboration between mobile operators, satellite providers, device manufacturers, and ecosystem players will be essential to bringing scalable solutions to market.

🟣 Competitive differentiation is shifting up the value chain. As coverage becomes more ubiquitous, success will increasingly depend on service innovation, enterprise solutions, and customer experience, rather than network reach alone.

GET THE WHITEPAPER

THE LAST DROP

🎤 TNS on the Evolving Challenges and Opportunities Shaping Enterprise Communications in 2026 [Interview]

🎤 Sinch on the Trends and Challenges in the RCS for Business Market [Interview]

🚀 SpaceX’s IPO Setting the Standard for Terrestrial Telcos [Blog]

💱 Cross-border Payment Transactions to Hit $63 Trillion by 2030 Globally [Research]

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