Modi’s X post read: “Great to see this- it marks a significant step towards taking UPI global. This is a wonderful example of encouraging digital payments and fostering stronger ties.”
What is UPI
Unified Payments Interface is an Indian instant payment system which was developed by the National Payments Corporation of India (NPCI) in 2016. This system powers multiple bank accounts into a single mobile app (of any participating bank).
NPCI explains that the service offered by the apps merges several banking features like seamless fund routing and merchant payments within a single platform.
UPI at Eiffel Tower: How will it work
In a statement, the NPCI said that its arm NPCI International Payments (NIPL) has tied up with French e-commerce and proximity payments company Lyra, reports news agency PTI. This partnership has helped ensure that the UPI payment mechanism is accepted in the European country, starting with the Eiffel Tower.
Indian tourists at Eiffel Tower can now scan a QR code generated on the merchant’s website and initiate a payment. Eiffel Tower is the first merchant to offer UPI payments in France. The service will soon be extended to other merchants in the tourism and retail space across France and Europe.
Currently, Indian tourists rank as the second largest group of international visitors to the Eiffel Tower, the statement noted.
Recently, the prime minister also invited Emmanuel Macron, President of France, as the Chief Guest for the 75th Republic Day celebrations in New Delhi on January 26.
The Times of India Gadgets Now awards: Cast your vote now and pick the best phones, laptops and other gadgets of 2023