New Delhi, Aug. 18 -- The rapid growth of India's Unified Payments Interface (UPI) is putting pressure on traditional payment revenue streams, pushing banks and fintech companies to look towards lending, merchant solutions and other value-added services to generate revenues, according to an August 2026 McKinsey Financial Services Practice report.

The report, titled - "How instant payments are transforming the financial landscape", said India has emerged as one of the world's leading instant-payment markets, with UPI processing more than 19 billion transactions every month, accounting for nearly a third of the country's total transaction volume.

As instant payments gain scale, however, the economics of the payments business are also chan...