On February 2, 2024, the Unified Payments interface was formally launched at the Eiffel Tower in Paris at the Indian Republic Day reception which means that tourists now visiting the iconic monument can conveniently book their trips using India ‘s payment mechanism.
According to an announcement by the National Payments Corporation of India (NPCI), their international arm NPCI International Payments (NIPL) has partnered with French e-commerce and proximity payments platform Lyra to facilitate the acceptance of the UPI Payments in Europe starting with the Eiffel Tower.
The Indian Embassy in France on February 2, 2024, tweeted “UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. Implementing PM Narendra Modi’s announcement and vision of taking UPI global.”
An official statement revealed that Indian tourists, who currently rank as the second largest group of international visitors to the Eiffel Tower, can now purchase tickets online using the UPI payment mechanisms. The transaction process is described as quick, easy and hassle-free allowing tourists to scan a QR code generated on the merchant’s website to initiate the payment.
Riteish Shukla, the CEO of NIPL, expressed his aspiration to promote NPCI Payments Solutions globally and establish an interoperable global payments system. “We aim at actively collaborating with financial institutions worldwide to establish partnerships and provide consumers with convenient and secure cross border payment solutions,” Shukla said.
Christophe Mariette, the Commercial Director of Lyra France, highlighted the company’s presence for 17 years in India and said, “For the players in thr French and European tourism ecosystem, this partnership represents a major advancement and the promise of new business opportunities to come,’ he said.
The launch of the UPI in France will also make it simpler for Indian tourists to remotely book hotels museum visits and other services for their stay in France. Apart from tourists, the acceptance of the UPI in France also will create opportunities for merchants in retail as well as tourism sector.
About the UPI
The Unified Payments Interface (UPI) which was launched in the year 2016, is a system that powers multiple bank accounts into a single mobile application of any participating bank and merging several banking features seamless fund routing and merchant payments into one hood.
With over 380 million users, the UPI has established itself as a prominent paying method in India as evidenced by its recent milestones. In January 2024, alone, the UPI recorded over 12.2 billion transactions, solidifying its position as the worlds most effective and instant payment system.