PM Modi France Visit: Delivering good news to the Indian community in France, Prime Minister Narendra Modi announced that Indian travellers will soon have the convenience of utilising UPI for payments in the country.
To begin, Indian tourists will be able to purchase tickets in rupees to go to the first and second levels of Paris' Eiffel Tower.
India and France have reached an agreement to use UPI in France," PM Modi declared. "In the coming days, it will begin with the Eiffel Tower, which means Indian tourists will be able to pay in rupees."
This means that Indian tourists visiting France will now be able to pay in Indian rupees.
The introduction of UPI in France brings forth a world of exciting opportunities for Indian travellers. With UPI, they can bid farewell to the inconvenience of carrying cumbersome forex cards or substantial amounts of cash.
Instead, customers can make smooth payments with their cell phones.
PM Modi met with French colleague Elisabeth Borne and Senate President Gerard Larcher during his visit to France.
The discussions centred on expanding India and France's diversified cooperation and long-standing strategic alliance.
The UPI system in India merges numerous bank accounts into a single mobile app, allowing users to access various banking functions, conduct simple financial transfers, and pay merchants.
It also enables peer-to-peer collection requests, which can be scheduled and paid at one's leisure.
In April 2016, the National Payments Corporation of India (NPCI) performed a UPI test launch with 21 member banks. UPI usage has skyrocketed since then.
Tea dealers, for example, now accept UPI payments for sums as low as Rs 5 or Rs 10.
In 2022, NPCI reached an agreement with Lyra, a fast and secure online payment system in France. UPI also signed a deal with PayNow, Singapore's payment system, this year, facilitating cross-border transactions between the two countries.
The United Arab Emirates (UAE), Bhutan, and Nepal have already embraced the UPI system. NPCI International is engaged in discussions to expand UPI services to the United States, other European countries, and West Asian countries.
The launch of UPI in France signals another step forward in India's efforts to broaden the reach of its unique payment system. It not only makes it easier for Indian visitors to travel, but it also deepens links between India and France in the field of digital payments.