UPI empowered marginal borrowers, boosted credit access: Study

A research paper revealed UPI’s transformative impact on India’s financial landscape. Since its 2016 launch, UPI has facilitated seamless digital transactions for millions, becoming the dominant retail payment method. This widespread adoption, fueled by affordable internet access, has boosted credit access, particularly for underserved borrowers, while maintaining low default rates. The success story holds global implications for digital finance.