World

Piyush Goyal Launches UPI At Galeries Lafayette In France

Commerce Minister Piyush Goyal on Tuesday launched the Unified Payments Interface (UPI) at the iconic Galeries Lafayette in Nice, France, marking another milestone in the global expansion of India’s digital payments ecosystem.

Taking to X, the Minister posted, “Bringing India’s world-class digital payments platform to one of France’s premier retail destinations marks another significant step in UPI’s global expansion. With the participation of Lyra Collect and NIPL, this initiative showcases India’s ability to deliver trusted, seamless, and interoperable digital solutions at scale.”

“The launch further strengthens the economic and technological ties between India and France, reflecting the growing depth and ambition of our strategic partnership,” the post read.

The launch will allow Indian travellers in France to make payments using familiar UPI platforms, reducing the need for physical currency exchange, carrying cash, or dealing with foreign exchange charges.

According to a senior official, the initiative will likely benefit French businesses by providing access to a large and digitally savvy Indian tourist base.

Merchants will likely gain from increased transaction volumes, streamlined cash management, lower costs associated with handling cash, and secure real-time settlements.

France becomes the second country this month to adopt UPI, following its launch in Cambodia on June 3.

The cross-border payment linkage was formally inaugurated in Phnom Penh in the presence of Chea Serey, Governor of the National Bank of Cambodia, and senior representatives from the Reserve Bank of India.

The first phase of the India-Cambodia partnership enables Indian travellers to make QR-based payments at more than 4.5 million Cambodian merchants through Bakong’s KHQR system.

A second phase will establish a fully bi-directional payment corridor, allowing Cambodian citizens visiting India to use domestic banking and payment applications to scan UPI QR codes across the country.

Md Shadan Ayaz

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