Prime Minister Narendra Modi praised the formal introduction of the Unified Payments Interface (UPI) at the Eiffel Tower, hailing it as a significant stride in the global expansion of UPI. The launch took place during the Republic Day reception in France, aligning with PM Modi’s vision of making UPI a worldwide phenomenon. UPI, India’s mobile-centric payment system, consolidates diverse banking features, facilitating seamless fund transfers and merchant payments.
According to the joint statement in 2023, India and France committed to nurturing collaboration for a thriving digital ecosystem, leading to the implementation of UPI in France and Europe. NPCI International Payments Limited (NIPL) and France’s Lyra Collect signed an agreement to execute the Unified Payments Interface in the region. This initiative stems from PM Modi’s announcement during his July visit to France, where he disclosed the plan to use UPI for transactions starting from the iconic Eiffel Tower. Indian tourists in France can now make payments in rupees through UPI, as emphasized by PM Modi during an address to the Indian community in Paris.
A notable instance of UPI’s functionality occurred during French President Emmanuel Macron’s visit to India for the Republic Day Parade. Macron and PM Modi interacted at a tea stall in Jaipur, where Macron utilized UPI for a payment transaction. PM Modi had earlier elucidated the workings of UPI to Macron during a visit to a local shop near Hawa Mahal in Jaipur, underscoring the system’s convenience and global applicability.
