The Indian Embassy in France formally launched the Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris. This significant event implements the vision of Prime Minister Narendra Modi to take India’s digital payment systems to a global stage. During a Republic Day reception in France, officials introduced the mobile-based system to the European market.
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 Global Expansion Reaches the Eiffel Tower
The formal launch at the Eiffel Tower marks a historical moment for the Indian digital payment ecosystem. India’s mobile-based system allows users to make round-the-clock payments through a virtual payment address. Specifically, the system merges several banking features and seamless fund routing into a single mobile application. Consequently, Indian tourists visiting the iconic monument now book their tickets online by scanning a QR code and paying in rupees. Because Indian visitors rank as the second-largest group of international tourists at the tower, this feature greatly enhances the travel experience.
Strategic Alliances and Digital Transformation
NPCI International Payments Limited (NIPL) and the French firm Lyra Collect executed a strategic agreement to implement the system. This partnership follows a commitment from India and France in 2023 to nurture a thriving digital ecosystem. During his visit to Paris in July of that year, Prime Minister Modi announced that both nations agreed to use the payment mechanism. Therefore, the collaboration ensures that citizens participate fully in the digital century. Furthermore, the partnership between NIPL and Lyra paves the way for wider acceptance across other European retail sectors.
Benefits for the Tourism and Retail Sectors
The introduction of this payment method brings a huge social transformation and simplifies international transactions. For instance, French President Emmanuel Macron recently used the system to make a payment at a tea stall in Jaipur during his visit to India. This interaction highlights the ease and security of the platform. Furthermore, the service will soon extend to other merchants in the tourism and retail space across France and Europe. This expansion allows Indian travellers to avoid the complexities of currency exchange and manage their expenses directly in their native currency.
| Feature | Description |
| System Type | Mobile-based instant payment system. |
| Availability | 24/7 service including holidays. |
| Authentication | Single-click 2-factor authentication. |
| Currency | Direct payments in Indian Rupees (INR). |
Courtesy: ndtv.com
