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France Launches UPI at Eiffel Post Macron's India Trip

 

The Unified Payments Interface (UPI) has been officially launched at the iconic Eiffel Tower in Paris, marking a significant step towards realizing Prime Minister Narendra Modi's vision of taking UPI global. The announcement came during the Republic Day reception in France, as highlighted by the Indian Embassy. UPI, India's mobile-based payment system, allows users to make round-the-clock transactions through a virtual payment address created by the customer.

The integration of UPI at the Eiffel Tower is a result of the commitment made by India and France during their collaborative efforts in 2023. NPCI International Payments Limited (NIPL) and France's Lyra Collect entered into an agreement to implement the UPI infrastructure in France and Europe, reflecting the growing influence of India's digital payment ecosystem.

The genesis of this collaboration traces back to Prime Minister Narendra Modi's announcement during his visit to France in July the previous year. He declared that India and France had agreed to adopt the UPI payment mechanism, with the Eiffel Tower serving as the symbolic starting point. Indian tourists in France would now have the convenience of making payments in rupees through the UPI system.

During a speech addressing the Indian community in Paris on July 14, PM Modi emphasized the transformative impact of UPI and other digital platforms in India. He expressed satisfaction in India and France working together in this direction, particularly highlighting the future implementation of UPI payments starting from the iconic Eiffel Tower.

The recent visit of French President Emmanuel Macron to India further strengthened the collaboration in digital payments. Macron, attending the Republic Day Parade as the Chief Guest, joined PM Modi in experiencing the UPI system at a tea stall in Jaipur. This demonstration showcased the practical application of UPI in facilitating seamless transactions, further cementing the ties between the two nations in the digital payment space.

The comprehensive integration of UPI in France not only signifies a milestone in India's digital prowess but also underscores the collaborative efforts between nations in fostering digital advancements for the benefit of their citizens. The symbolic launch at the Eiffel Tower serves as a testament to the global reach and acceptance of India's innovative digital payment solutions.

Feb. 3, 2024 12:51 p.m. 2511

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