The Unified Payments Interface (UPI) was officially launched at Paris’ Eiffel Tower on Friday, according to the Indian Embassy in France, and is part of Prime Minister Narendra Modi’s “vision of taking UPI global.”
The UPI was first revealed during the Republic Day event in France.
In a post on X, the Indian Embassy in France wrote, “UPI formally launched at the famous Eiffel Tower during the massive Republic Day reception. Implementing PM @narendramodi’s declaration and the ambition of expanding UPI globally.”
The UPI is India’s mobile-based payment system, allowing customers to make payments around the clock using a virtual payment address generated by them. UPI is a system that connects several bank accounts to a single mobile application (of any participating bank), combining various banking capabilities, smooth fund routing, and merchant payments under one umbrella.
Journey of UPI to France
In 2023, according to the joint India-France declaration, the two countries pledged to support a vibrant ecosystem and develop partnerships that would empower their people and guarantee their full participation in the digital century. An agreement to deploy the Unified Payment Interface (UPI) throughout France and Europe was signed by NPCI International Payments Limited (NIPL) and Lyra Collect, a French company.
Prime Minister Narendra Modi declared in July of last year that France and India had decided to use the UPI payment system and that it would start at the famous Eiffel Tower. Indian visitors to France would now be allowed to pay with rupees, according to PM Modi.
While addressing the Indian community at La Seine Musicale in Paris on July 14, PM Modi remarked, “Be it India’s UPI or other digital platforms, they have brought a major social shift in the country, and I am delighted that India and France are both striving in the same direction. India and France have decided to deploy UPI in France. I will follow the arrangement. However, it is your responsibility to move forward. Friends, in the future days, it will commence from the Eiffel Tower, which implies that Indian tourists will be able to make purchases in rupees using UPI at the Eiffel Tower.”
French President Emmanuel Macron recently visited India as the Chief Guest for the Republic Day Parade. During his tour, Macron and Prime Minister Narendra Modi visited a tea stand in Jaipur and had tea together. Macron paid with UPI there. Earlier, PM Modi introduced the UPI digital payment system to Macron as the two leaders were visiting a small business in Jaipur’s Hawa Mahal.
How will UPI work at the Eiffel Tower?
The NPCI said in a statement that its affiliate, NPCI International Payments (NIPL), has partnered with Lyra, a French e-commerce and proximity payments firm, according to PTI. This collaboration has helped to guarantee that the UPI payment system is accepted in European countries, beginning with the Eiffel Tower.
Indian visitors visiting the Eiffel Tower may now scan a QR code created on the merchant’s website to make a payment. Eiffel Tower is France’s first merchant to accept UPI payments. The service will soon be available to additional businesses in the tourist and retail sectors throughout France and Europe. According to the statement, Indian tourists currently make up the second largest group of international visitors to the Eiffel Tower.
Global Vision of UPI
India has made tremendous progress in developing the worldwide network of its digital payment systems, such as RuPay and UPI (Unified Payments Interface), with Europe being one of the most recent locations to accept Indian payment systems.
France, the United Arab Emirates, Saudi Arabia, Bahrain, Singapore, Maldives, Bhutan, and Oman are among the countries that have adopted various Indian payment methods. This means that Indians will be able to make payments in these nations using UPI and other methods.
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