India's UPI goes global: France's Eiffel Tower leads way, offers seamless transactions for Indians
This groundbreaking collaboration marks a significant milestone, with the iconic Eiffel Tower becoming the first merchant in the country to accept UPI payments, revolutionizing the transaction experience for Indian tourists.
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FollowNPCI International Payments Limited (NIPL) and Lyra, a renowned French specialist in e-commerce and proximity payments, have joined forces to introduce the Unified Payments Interface (UPI) in France. This groundbreaking collaboration marks a significant milestone, with the iconic Eiffel Tower becoming the first merchant in the country to accept UPI payments, revolutionizing the transaction experience for Indian tourists.
The announcement of this pioneering initiative took place at an event in Paris organized by the Indian Embassy to commemorate India's Republic Day. It underscores the growing significance of UPI as a preferred payment method, particularly for Indian tourists, who constitute the second-largest group of international visitors to the Eiffel Tower.
With the integration of UPI, Indian visitors to the Eiffel Tower can now seamlessly purchase tickets online using UPI-powered apps, streamlining the payment process and enhancing overall efficiency.
This strategic move not only simplifies transactions for Indian tourists but also presents new opportunities for merchants in France's tourism and retail sectors. The adoption of UPI in France signifies a paradigm shift in payment methods and heralds a new era of digital payments in the European market.
The collaboration between NIPL and Lyra represents a concerted effort to make NPCI's payment solutions globally accepted and to create a universally interoperable payment system. Ritesh Shukla, CEO of NIPL, emphasized the organization's commitment to expanding UPI's reach beyond Indian borders.
Christophe Mariette, Commercial Director of Lyra France, expressed pride in the partnership with the Indian government and NIPL, highlighting the significance of offering diverse payment methods globally. This collaboration not only strengthens ties between India and France but also unlocks new business opportunities for players in the French and European tourism ecosystem.
As UPI continues to gain momentum globally, its impact in India remains unparalleled. With a user base exceeding 380 million, UPI has firmly established itself as a leading payment method in the country. In January 2024 alone, UPI witnessed a remarkable milestone, recording over 12.2 billion transactions, further solidifying its position as the world's most efficient instant payment system.
In conclusion, the introduction of UPI in France marks a significant stride towards globalizing India's digital payment ecosystem. With the Eiffel Tower embracing UPI payments, the future of digital transactions looks promising, both in India and abroad.
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