France becomes first EU country to launch India’s UPI Payment System
France launches India’s UPI Payment System, becomes first EU country to do so, with the service starting at the Eiffel Tower in Paris. The partnership between NPCI and Lyra marks the beginning of UPI’s availability in France, aimed at facilitating digital payments, with Prime Minister Modi commenting on its significance. UPI, a popular digital payment method in India since 2016, offers features such as interoperability, 24/7 availability, and immediate fund transfers.
France has become the first European country to adopt India’s Unified Payments Interface (UPI) service. The launch of UPI took place at the Eiffel Tower in Paris, France. The National Payments Corporation of India (NPCI) has partnered with Lyra, a French e-commerce and proximity company, through its international arm, NPCI International Payments (NIPL), to ensure the acceptance of unified payments interface payments in the country. This collaboration marks the beginning of UPI’s availability, starting with the Eiffel Tower, where Indian tourist rank as the second largest group of international visitors.
Prime Minister Narendra Modi’s posted in X remarking that “it marks a significant step towards taking unified payments interface global. This is a wonderful example of encouraging digital payments and fostering stronger ties”.
UPI, developed by NPCI in 2016, is recognized as one of the most popular digital payment methods in India. It offers various features that enhance consumer convenience, including interoperability across different banks and financial institutions, 24/7 availability, and immediate fund transfers directly to bank accounts.
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