In a landmark move, India officially introduced the Unified Payments Interface (UPI) at the iconic Eiffel Tower, signaling the realization of Prime Minister Narendra Modi's vision to globalize UPI. The momentous occasion took place at the Republic Day Reception, showcasing India's commitment to encouraging digital payments on the global stage.
The official X handle of India's Embassy in France shared images of the event, stating, "UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. Implementing PM @narendramodi's announcement and the vision of taking UPI global." Responding to this, Prime Minister Modi expressed his enthusiasm, remarking that the event marked a significant step toward making UPI a global phenomenon and commending it as a positive example of promoting digital payments while strengthening international ties.
Unified Payments Interface (UPI), initiated in 2016, is a revolutionary system that consolidates multiple bank accounts into a single mobile application, offering seamless fund routing, merchant payments, and various banking features. The National Payments Corporation of India (NPCI) stated that its subsidiary, NPCI International Payments (NIPL), has collaborated with French e-commerce and proximity payments provider Lyra to ensure the acceptance of UPI payments in France, beginning with the Eiffel Tower.
The Eiffel Tower, as the first merchant to offer UPI payments in France, is set to pave the way for similar services to be extended to other merchants in the tourism and retail sectors across France and Europe. This collaboration is particularly significant as Indian tourists rank as the second-largest group of international visitors to the Eiffel Tower. The process involves Indian tourists scanning a QR code generated on the merchant's website to initiate a payment, exemplifying the convenience and global applicability of UPI. The initiative aligns with the strengthening ties between India and France, showcasing the vibrancy of the Strategic Partnership during the 75th Republic Day reception. The official handle X expressed gratitude to Minister Delegate Prisca Thevenot for honoring the occasion, along with members of Parliament, business leaders, scholars, friends of India, and the Indian community in France.
(With Agency Inputs)
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