UPI Payment in France: An agreement has been reached between India and France regarding UPI i.e. Unified Payment Interface and now Indian people will be able to make payments in France with the help of UPI. Let the Prime Minister Narendra Modi is on a 2-day tour of Paris and this big announcement has happened during this time. PM Modi was addressing the Indian people in La Seine Musical, during which he announced this. That is, now if Indian people travel to France, then they do not need to carry much cash or Forex cards. They will be able to pay in UPI i.e. Indian Rupees. Although UPI payment has not yet started completely everywhere.
UPI payment will be started from Eiffel Tower and Indian tourists will be able to pay in rupees through UPI in Eiffel Tower. During the two-day visit, PM Modi held meetings with his French counterpart Elisabeth Borne and Senate President Gerard Larcher and emphasized on strengthening the multi-faceted cooperation and long-term strategic partnership between the two countries.
UPI very popular in India
India’s UPI system integrates multiple bank accounts into a single mobile application, allowing users to access various banking facilities, make easy fund transfers and make payments to merchants. UPI was launched by the National Payments Corporation of India (NPCI) in April 2016 as a pilot project involving 21 banks. Since then the use of UPI is continuously increasing in India. Today UPI payment is accepted from a tea seller to big malls and stores.
MoU was signed between India and France regarding UPI in 2022
Actually, talks started between India and France in 2022 regarding UPI. Then National Payments Corporation of India signed an MOU with Lyra. For those who do not know what lyra is, it is a fast and secure online payment service from France. In 2022 itself, UPI also signed an agreement with Singapore’s payment system PayNow to enable cross-border transactions between the two countries.
UPI will start soon in these countries as well
UPI payment has already been adopted by United Arab Emirates (UAE), Bhutan and Nepal. NPCI is currently in talks to expand UPI services to the United States of America, other European and West Asian countries. That is, soon Indians will be able to make payments in these places also with the help of UPI.