Mumbai, Oct. 7 -- Shashvat Nakrani, Co-Founder of BharatPe, on Tuesday lauded India's Unified Payments Interface (UPI) as a transformative force in the fintech space.

Speaking to ANI at a Global Fintech Festival event in Mumbai, Nakrani highlighted how UPI has not only digitised small merchants but also drawn attention from developed economies globally.

"UPI has become nothing short of a revolution in this country, and any developed economies are really looking at India and this model to implement in their country," Nakrani said.

Looking ahead, he noted the shift from debit to credit-based transactions within the UPI ecosystem.

"Right now UPI is mostly debit transactions. So now we have started coming in with credit card on UPI, credi...