Overview

• The Unified Payments Interface (UPI) was officially launched at the Eiffel Tower in Paris, marking a significant step towards globalizing the Indian payment system.
• Prime Minister Narendra Modi and French President Emmanuel Macron have endorsed the move, highlighting its potential to strengthen ties and promote digital payments.
• Indian tourists can now use UPI to make payments in France, starting with the Eiffel Tower, facilitating seamless transactions.
• The launch follows an agreement between NPCI International Payments Limited (NIPL) and France's Lyra Collect to implement UPI in France and Europe.
• The initiative is expected to benefit Indian tourists and open up new business opportunities for merchants in the tourism and retail sectors across France and Europe.