France has emerged as the first European nation to embrace digital transactions from India. Recently, India unveiled its Unified Payments Interface (UPI) at the iconic Eiffel Tower in Paris, marking a significant milestone. Indian tourists visiting the Eiffel Tower can seamlessly purchase tickets using UPI by simply scanning a QR code on the tower’s official website.
The Indian Embassy in France proudly announced the formal launch of UPI during the grand Republic Day Reception at the Eiffel Tower, echoing Prime Minister Modi’s vision of globalising UPI. In 2016, the National Payments Corporation of India (NPCI) established a UPI as an instant payment system. UPI revolutionised banking by consolidating multiple bank accounts into a single mobile application, facilitating effortless fund transfers and commercial payments.
NPCI’s subsidiary, NPCI International Payments (NIPL), collaborated with Lyra, a distinguished French e-commerce and proximity payments provider, to ensure the widespread acceptance of UPI in France.
India is home to the second-largest group of foreign visitors to the Eiffel Tower. With ambitious plans to extend this service to various merchants in the retail and tourism sectors across France and Europe, the Eiffel Tower emerges as the trailblazer, setting the precedent as the first establishment in France to embrace UPI payments.