Pine Labs’ latest industry report, supported by McKinsey, points to “credit line on UPI” (CLOU) as the big growth driver for credit-linked payments at checkout, as India’s lending landscape undergoes rapid changes.
India has 330 million credit-ready consumers but 150–200 million remain underserved, a gap that embedded credit products like CLOU aim to address. By 2030, the report estimates, credit-linked payment products could generate as much revenue as home and auto loans. The push will be led by UPI’s 65 million QR-enabled merchants and…

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