Indian Prime Minister Narendra Modi, on a two-day visit to Paris, announced on Thursday that France had agreed to use the Unified Payments Interface (UPI), a one-stop mobile system that allows users to transfer money money between bank accounts.
“I will leave after signing the agreement,” Modi told the Indian diaspora, as reported The NationalFriday (14/7).
“It’s your responsibility to pass it on,” he said.
“This (UPI) will start from the Eiffel Tower. “Now Indian tourists can make their payments in rupees, through UPI, at the Eiffel Tower,” he explained.
France, and particularly Paris, is one of the most popular travel destinations for Indians, with up to 300,000 visitors each year, the French Embassy in India said.
Mobile payment methods will make it easier for tourists, as they will no longer have to carry cash.
UPI was launched in 2016 and has since become one of the most used payment methods in the country, especially after the pandemic, even street vendors and vegetable sellers accept the payment.
In May, UPI hit a record 9 billion transactions, the National Payments Corporation of India (NPCI) said.
NPCI, which launched UPI, last year signed a deal with a fast and secure French online payment system called Lyra.
India and Singapore also signed an agreement to integrate each country’s UPI systems to enable faster remittances.
The United Arab Emirates, Bhutan and Nepal have adopted the UPI system.
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