Same issue for me. Usually, the payments are processed within half an hour. But today, it has been like almost 3 hours now and since I needed the money urgently, I haven't received any processing email from upwork. I got the initial confirmation email though.
ok , so we are facing the same issue..its been 8 hours for me now and i also received initial confirmation but no processing confirmation from Upwork.I will wait a bit and may be should contact Upwork support.