France will adopt India’s UPI system
India and France have agreed to utilize the UPI payment system, enabling Indian travellers to pay in rupees when visiting France. Starting with the Eiffel Tower, the project will proceed to different parts of the country. It is anticipated that this move will increase bilateral trade as well as tourism between the two nations.
According to Prime Minister Narendra Modi’s announcement on Thursday, India and France have decided to utilize the iconic Eiffel Tower as the starting point for their UPI payment system. He said that from this point on, Indian visitors to France will be allowed to pay with rupees.
Addressing the Indian community at La Seine Musicale in Paris, PM Modi said, “Be it India’s UPI or other digital platforms, they have brought a huge social transformation in the country and I am happy that India and France are also working together in direction.”
“India and France have agreed to use UPI in France. I will leave after the agreement. However, it is your job to move forward. Friends, in the coming days its beginning will be made from Eiffel Tower which means that Indian tourists will now be able to make payments in Rupees, through UPI, at Eiffel Tower,” the Prime Minister said.
This development boosts the credibility of the indigenous UPI system as France becomes another European country to utilize it. UPI is also partially adopted by many countries such as Singapore, UAE, Oman, Saudi Arabia, Malaysia, France, BENELUX markets – Belgium, the Netherlands and Luxembourg – and Switzerland, among others.
The declaration is viewed as a significant advancement for India and France’s bilateral trade and tourism. The two nations have been collaborating on archaeological projects for some time, according to PM Modi.
“Very few people know that India and France are working on archaeological missions for a long time. It’s expanded from Chandigarh to Ladakh. Digital infrastructure is another sector that strengthens the ties between India and France,” PM Modi said.
He emphasized the people-to-people ties between France and India, calling them the “strongest foundation” of their alliance, according to the press.
“India and France are tackling many challenges of the 21st century. Therefore, at this crucial time, the importance of the strategic partnership between our countries has increased even more,” he added.
The Prime Minister was given a formal greeting at the airport as he landed in Paris on Thursday for a two-day official visit. Elisabeth Borne, the French prime minister, met him at the airport.
India’s mobile-based payment system, known as Unified Payments Interface (UPI), enables users to send payments at any time using a virtual payment address they create individually.
An agreement enabling users in any nation to conduct cross-border transactions was inked earlier this year between UPI and Singapore’s “PayNow.”
