How UPI could revolutionise consumer credit in India

Consumer credit in India is growing rapidly, but it is not reaching everyone. The industry primarily caters to affluent urban professionals. However, there is a push to broaden access and make growth more sustainable. The cost of adding new borrowers is a concern for lenders, especially for lower-income earners. One solution being explored is using India's smartphone-based payment protocol, Unified Payments Interface (UPI), to offer credit. This would reduce costs and allow lenders to serve a wider group of borrowers.


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