Pine Labs sees credit line on UPI as India’s next credit growth driver

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…