France adopts UPI: a milestone for digital payments

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The most popular payment system in India, UPI, will now be used in France. The Eiffel Tower has been chosen as the launchpad for India's and France's UPI payment system.

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Starting from the famous Eiffel Tower, tickets of Eiffel tower can now be bought using UPI, providing simple & secure transactions for Indian visitors in the country.

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There are various prospects for Indians to simplify their spending habits as a result of UPI's adoption in France. UPI eliminates the need for cumbersome currency cards and the hassle of carrying cash.

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The declaration is regarded as a significant step forward for bilateral trade & tourism between India & France.

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Prime Minister Modi stated that the two countries have been collaborating on archaeological projects for a long time.

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To enable seamless fund routing, merchant payments, and other banking functions, UPI consolidates several bank accounts into a single mobile application.

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In April 2016, the National Payments Corporation of India (NCPI) launched a trial programme with its 21 member banks. Since that time, UPI usage has significantly increased. Even street vendors take UPI payments for a cup of tea for as little as $5 or $10.

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In 2022, the NPCI signed an MOU with Lyra, France's quick & safe online payment system. This year, UPI & Singapore's Pay Now signed an agreement that allows users in either nation to make transactions across borders.

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Numerous nations have adopted UPI in part, including Singapore, the UAE, Oman, Saudi Arabia, Malaysia, France, the BENELUX markets (Belgium, the Netherlands, and Luxembourg), and Switzerland among others

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