France Agrees to Use India’s UPI in the Country: Announced by Narendra Modi
Narendra Modi, India’s Prime Minister visited France and while addressing the Indians residing there, Modi announces that France will be using India’s UPI payment mechanism which will enable Indian tourists to make payments in Indian rupees.
Read more about it below.
India’s UPI Payment Mechanism to be Used in France
At La Seine Musicale in Paris, Indian PM, Narendra Modi announced that from now on, Indian tourists will be able to make payments in France in Indian rupees. The announcement was made upon an agreement with France and India regarding the acceptance of India’s UPI payment mechanism in France. The incorporation will start from the Eiffel Towers and Indians visiting the place, will be able to make payments in rupees, via UPI.
“Be it India’s UPI or other digital platforms, they have brought a huge social transformation in the country and I am happy that India and France are also working together in direction. India and France have agreed to use UPI in France. I will leave after the agreement. However, it is your job to move forward. Friends, in the coming days its beginning will be made from Eiffel Tower which means that Indian tourists will now be able to make payments in Rupees, through UPI, at Eiffel Tower” said Modi.
UPI or Unified Payment Interface is India’s own mobile-based payment system that enables anyone to make payments at any time instantly with the help of the unique virtual payment address created by the user.
To note, in 2022, NPCI(National Payments Corporation Of India) also signed a Memorandum of Understanding(MoU) with Lyra, the online payment system of France. This year, in early 2023, an agreement was also signed between India’s UPI and Singapore’s PayNow. NPCI is also planning to extend the UPI services to more countries including the USA, Europe, and also in countries of West Asia.
The recent announcement made regarding the acceptance of India’s UPI in France can be considered a significant step in the development of bilateral trade and tourism between the two countries.
