India, Sept. 23 -- In a bid to further increase the usage of the Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) is reportedly working on allowing users to convert their payments into EMIs.

The payments body is set to allow fintech companies to integrate the feature to allow users to convert their UPI payments into EMIs, Economic Times reported.

The feature would be similar to payments made via cards at PoS terminals, the report said, citing sources.

Notably, the NPCI already has two credit products for UPI - RuPay credit cards and credit line on UPI.

The credit line on UPI feature was launched in 2023. It allows individuals and small businesses to obtain pre-sanctioned credit lines from banks, whic...