4 in 5 lower-middle class Indians now use UPI: Report

India’s lower-middle class is embracing digital finance like never before, with UPI usage climbing to 80% in 2025, up from 72% last year, according to Home Credit India’s Great Indian Wallet 2025 report. Online loan applications have reached 50%, now equal to offline channels, and digital retail payments have grown to 51% of all transactions, up from 42% in 2024. Cities like Hyderabad (93%) and Kolkata (87%) lead in UPI adoption, though nearly half of users say they may stop using it if fees are introduced.