UPI Heads To France: India's Acclaimed Payment Interface To Make Its Europe Debut
UPI is on its way to France! India's Unified Payments Interface (UPI) would soon work in France, along with RuPay cards.?
After the UAE, Nepal, Bhutan, and Singapore, the National Payments Corporation of India (NPCI) on Thursday claimed that UPI will be launched in France, marking a Europe-first for the acclaimed interface.
India, the home of UPI and "country of the year"
To this end, NIPL has signed a Memorandum of Understanding (MoU) with France-based payments solution provider Lyra Network, Union?Communications and Electronics and Information Technology Minister Ashwini Vaishnaw announced during his France visit for the Viva Technology 2022 event.
?"The whole world is watching that India is doing 5.5 billion UPI transactions in a month. This is a big achievement for India. Today¡¯s MoU with France is a big step towards the world," Vaishnaw told ANI.
Also read:?For The First Time, RBI Proposes Linking Credit Cards To UPI
India's Ambassador to Singapore, Jawed Ashraf told ANI that "we will have to discuss this with the central bank, regulator, as well as companies here in France. In France, there is very less use of digital payment. But it needs to be integrated and seamless. It lacks efficiency as we have in India."
The intricacies of how UPI will operate in France are not available yet. Will there be currency conversion charges? We don't know! When you send or receive money internationally via UPI, you may only use Wise or Western Union.
Also read:?Nepal Will Be First Foreign Country To Embrace India's UPI Payment Interface
Meanwhile, one of Europe's biggest start-up conferences Viva Technology 2022 recognised India as "country of the year" in light of the start up boom and technological advances that have taken place in India after the Covid-19 pandemic.
What do you think about taking UPI to France? Let us know in the comments below.?For more in the world of?technology?and?science, keep reading?Indiatimes.com.
References
A. (2022, June 17). RuPay Cards, UPI will be accepted in France soon, says Indian Ambassador. The Times of India.?
