India Launches UPI Payment System Globally at Eiffel Tower

February 3, 2024

National Payments Corporation of India’s (NPCI) Unified Payment Interface (UPI) was formally launched at the Eiffel Tower in Paris on February 2, 2024. This marks an important step in taking UPI global. The launch coincided with India’s Republic Day celebrations in Paris. PM Modi welcomed the launch, calling it a significant milestone in taking UPI global and an encouraging example of promoting digital payments and stronger India-France ties.

UPI – India’s mobile payments system

UPI, launched in 2016, enables multiple bank accounts on a single mobile application. It merges various banking features and merchant payments seamlessly. The NPCI aims to extend UPI globally through its arm NPCI International Payments (NIPL).

Tie-up with French firm Lyra

NIPL has partnered with French e-commerce and payments company Lyra to enable UPI payments in France. Indian tourists are the second largest visitors to the Eiffel Tower. They can now use UPI to make payments by scanning a QR code on the merchant’s website. Founded in Toulouse in 2001, Lyra Payment has become a major payment services provider for banks, retailers, and maintenance firms in France and globally. With expertise in regulations, customer service, and technical solutions, Lyra Payment now operates in over 50 countries through 11 subsidiaries.

UPI payments to expand across Europe

The Eiffel Tower is the first merchant in France to offer UPI. The service will soon expand to other merchants in tourism, retail and across Europe. The launch highlights the strengthening India-France strategic partnership.

India-France Collaboration on Digital Payments

In 2023, India and France committed to nurturing a thriving ecosystem and building collaborations that empower their citizens and ensure their full participation in the digital century, according to the India-France joint statement. NPCI International Payments Limited (NIPL) and France’s Lyra Collect executed an agreement to implement the Unified Payment Interface (UPI) in France and Europe.

Recent Use of UPI French President Emmanuel Macron at Jaipur

Recently, French President Emmanuel Macron visited India to attend the Republic Day Parade as Chief Guest. During their visit, Macron and Prime Minister Narendra Modi visited a tea stall and interacted with each other over a cup of tea in Jaipur. Macron used UPI to make a payment there. Earlier, PM Modi explained the UPI digital payments system to Macron as the two leaders visited a local shop during their visit to Hawa Mahal in Jaipur.

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