France adopts UPI: a milestone for digital payments

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.

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.

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.

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

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

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

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.

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.

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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