Picture : ANI / X
The Unified Payments Interface (UPI) has been formally launched at the Eiffel Tower in Paris, the Indian Embassy in France said and termed it as part of Prime Minister Narendra Modi’s “vision of taking UPI global.” The UPI was formally launched at the Republic Day reception held in France.
In a post on X, the Indian Embassy in France stated, “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.”
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. pic.twitter.com/abl7IPJ0To
— India in France (@IndiaembFrance) February 2, 2024
The UPI is India’s mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer. UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood.
In 2023, India and France committed to nurturing a thriving ecosystem and building collaborations that empower their citizens and ensure their full participation in the digital century, according to the India-France joint statement. NPCI International Payments Limited (NIPL) and France’s Lyra Collect executed an agreement to implement the Unified Payment Interface (UPI) in France and Europe.
During his visit to France in July last year, Prime Minister Narendra Modi announced that India and France have agreed to use the UPI payment mechanism and it will begin from the iconic Eiffel Tower. PM Modi said that Indian tourists in France will now be able to make payments in rupees.
