The Indian Embassy in France stated Friday that the Unified Payments Interface (UPI) was formally launched at the Eiffel Tower in Paris, and is part of Prime Minister Narendra Modi’s vision of taking UPI global. The UPI was officially launched on France’s Republic Day.
The Indian Embassy in France tweeted, “UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. 🇮🇳➡️🇫🇷 Implementing PM @narendramodi’s announcement & the vision of taking UPI global”, through its official ‘X’ handle.
The UPI is India’s mobile-based payment system, allowing people to make payments around the clock using a virtual payment address created by them.
UPI is a system that connects several bank accounts to a single mobile application (of any participating bank), combining various banking capabilities, seamless fund routing, and merchant payments under one umbrella.
According to the India-France joint statement of 2023, India and France are committed to maintaining a healthy ecosystem and building collaborations that empower their citizens and assure their full participation in the digital century.
NPCI International Payments Limited (NIPL) and France’s Lyra Collect have signed an agreement to implement the Unified Payment Interface (UPI) across France and Europe.
During his visit to France in July last year, Prime Minister Narendra Modi said that India and France have agreed to adopt the UPI payment method, which would begin from the iconic Eiffel Tower.
PM Modi announced that Indian tourists in France will now be able to pay in rupees.
French President Emmanuel Macron recently visited India as Chief Guest for the Republic Day Parade.
During his tour, Macron and Prime Minister Narendra Modi met at a tea stall in Jaipur and had tea. Macron paid with UPI there. PM Modi explained the UPI digital payments system to Macron as the two leaders were visiting a local shop in Jaipur’s Hawa Mahal.
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