INDIA on Friday (2) officially launched its Unified Payments Interface (UPI) at the renowned Eiffel Tower, marking a significant step towards realising prime minister Narendra Modi's vision of globalising UPI, which is an instant payment system developed by the Mumbai-based National Payments Corporation of India.
The official X handle of the India's embassy in France shared photos of the launch at the Republic Day reception, affirming the implementation of Modi's initiative and the ambition to expand UPI internationally.
“UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. Implementing PM @narendramodi's announcement & the vision of taking UPI global,” the official X handle of the Indian embassy in France posted on the social media platform.
UPI consolidates multiple bank accounts into a single mobile application, facilitating seamless fund transfers, merchant payments, and various banking services, as per NPCI.
Modi also lauded the event, tweeting, "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."
Incidentally, at the invitation of Modi, French president Emmanuel Macron was the chief guest for India's 75th Republic Day celebrations in New Delhi on January 26.
“The new energy in India-France ties from a historic year in the Strategic Partnership visible at 75th Republic Day réception!,” the official handle X posted and thanked the minister delegate in charge of democratic renewal, government spokesperson Prisca Thevenot for honouring the occasion.
It also thanked the members of Parliament, business leaders, scholars, friends of India & Indians in France.
It may be mentioned here that Modi announced the launch of the UPI from the Eiffel Tower during his visit to France in July last year. He said the Indian tourists could make payments in Indian currency through UPI using a mobile application.
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