INDIANS CAN USE UPI AT MORE PARIS SPOTS

You can now use UPI to pay in Paris' Galeries Lafayette. India's Unified Payments Interface (UPI) has marked a significant expansion with its launch at the Galeries Lafayette flagship store on Haussmann Boulevard in Paris.

Following a successful introduction at the iconic Eiffel Tower earlier this year, this move aligns with Prime Minister Narendra Modi's vision to internationalize UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.

The Indian Embassy in France announced on Thursday, "On July 3, 2024, UPI became operational at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This extends the acceptance of UPI in Paris following its successful debut at the iconic Eiffel Tower."

Ambassador Jawed Ashraf launched UPI in real-time at Galeries Lafayette in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group, highlighting the strategic collaboration between Lyra and NPCI. This initiative precedes the Paris Olympics scheduled to commence on July 26, 2024, which anticipates a significant influx of Indian visitors.

Reflecting on past achievements, Ambassador Ashraf recalled Prime Minister Modi's inaugural international launch of UPI in Singapore in 2018, underscoring UPI's evolving global journey. He expressed optimism that UPI would not only facilitate swift, secure, and efficient cross-border digital payments but also grow as a medium for cross-border remittances worldwide.

According to NPCI, UPI integrates multiple bank accounts into a single mobile application, providing seamless fund routing and merchant payments across participating banks. This advancement positions UPI as a comprehensive digital payment system, aligning with global fintech trends.