Prime Minister Narendra Modi announced UPI in France as a significant development during his visit to France on July 13, 2023. It was unveiled during a meeting with the Indian community in Paris. This move marks a milestone in the bilateral relationship between India and France, further strengthening ties and promoting seamless financial transactions between the two nations.
The UPI-France Agreement: Simplifying Payments for Indian Tourists
The agreement was signed in 2022 between the National Payments Corporation of India (NPCI) and Lyra, France’s fast and secure online payment system. This collaboration enables Indian tourists to make payments in Indian rupees at popular destinations in France, including the iconic Eiffel Tower, as well as other merchants that accept UPI.
UPI in France: Enhancing Bilateral Relations
The UPI availability in France represents a significant step forward in the bilateral relationship between India and France. It fosters closer ties by facilitating seamless financial transactions for Indian tourists and boosting trade between the two nations. The agreement reflects the mutual commitment to strengthen economic cooperation and promote ease of doing business.
UPI in France: Empowering Indian Tourists
With this available in France, Indian tourists visiting the country will experience greater convenience and ease while shopping and travelling. They will be able to make payments in Indian rupees using their UPI-enabled apps, eliminating the need for currency exchange or reliance on alternative payment methods. This development enhances the overall experience for Indian travellers, making France an even more attractive destination.
Expanding UPI’s Global Reach: A Growing List of Countries
This availability in France adds to the growing list of countries where this digital payment system is accessible. Currently, UPI is available in several countries, including Singapore, the United Arab Emirates, Oman, Saudi Arabia, Malaysia, France, Benelux (Belgium, Netherlands, and Luxembourg), Switzerland, the United States, Canada, Australia, Hong Kong, Oman, Qatar, and the United Kingdom. Moreover, Non-Resident Indians (NRIs) residing in these countries can also utilize UPI services as long as they possess a valid Indian bank account and a UPI-enabled app.
India’s Global Expansion Efforts: Expanding UPI’s Reach
India is actively working on expanding the global reach of UPI, striving to make it available in more countries worldwide. The Indian government aims to promote the adoption of UPI as a secure, fast, and convenient digital payment system, facilitating international transactions and promoting India as a global fintech leader.
Conclusion
Prime Minister Narendra Modi’s announcement regarding the UPI availability in France underscores the growing importance of digital payment systems in fostering international relations and promoting seamless financial transactions. This development simplifies payments for Indian tourists in France and contributes to the strengthening of bilateral relations between India and France. As UPI’s global presence expands, it brings greater convenience to travellers and facilitates economic cooperation between nations.
FAQs about UPI in France
- Can Indian tourists use UPI for all transactions? Indian tourists can use UPI for payments at merchants in France that accept this digital payment system, including popular attractions such as the Eiffel Tower.
- Is UPI available only for Indian tourists in France? No, UPI is available for Indian tourists as well as Non-Resident Indians (NRIs) residing in France, provided they have a valid Indian bank account and a UPI-enabled app.
- Which other countries offer UPI services? Apart from France, UPI is available in Singapore, the United Arab Emirates, Oman, Saudi Arabia, Malaysia, Benelux (Belgium, Netherlands, and Luxembourg), Switzerland, the United States, Canada, Australia, Hong Kong, Oman, Qatar, and also the United Kingdom.
- Will the list of countries offering UPI services continue to grow? Yes, India is actively working to expand the reach of UPI globally, with ongoing efforts to include more countries in the list of UPI-enabled nations.
- How does the availability of UPI in France benefit trade between India and France? This availability in France streamlines financial transactions between Indian tourists and French merchants, promoting trade and economic cooperation between the two countries.