There is good news for all UPI users, as Indian UPI is also recognized in France. With this move, you can now book your ticket from France’s Eiffel Tower through an online payment podium because Indian tourists have now partnered with NPCI’s Lyra through a powered app.
India’s UPI is popular worldwide and can now be recognized in France; this facility makes it easy for Indians to book tickets to the Eiffel Tower through an online UPI payment option. Now, Indian tourists can securely access merchant websites and make online payments by scanning QR codes from UPI apps, and for this, NPCI has partnered with LYRA.
Not only France but now UPI can be used in eleven countries. However, the Eiffel Tower is the first merchant in France where UPI services have started, which can soon be rolled out in the rest of the country. It will also be implemented with multiple merchants and retail stores in the upcoming days.
So, tourists can also book hotel and museum tickets remotely in the coming days. In comparison with international visitors, Indian tourists occupy the second place in terms of visiting the Eiffel Tower as in January 2024, about 1220 crore UPI transactions have been done.
Ritesh Gupta, CEO of NIPL, said,
“At NIPL, our ambition is to enable acceptance of NPCI’s payment solutions in international markets and create a truly interoperable global payment system. We aim to actively collaborate with financial institutions worldwide to establish partnerships and provide consumers with convenient and secure cross-border payment solutions. Through this strategic partnership with Lyra, we have taken another step forward towards this goal,”.
Ritesh Gupta, CEO of NIPL, said
Also, Christophe Mariette, Commercial Director of Lyra France, said,
“It is a great pride to have the trust of the Indian government and NIPL to launch UPI in Europe. We have been present in India for 17 years, and this partnership confirms the strength of our collaboration with this vast country. We also demonstrate our ability to stay ahead of market trends and strengthen our ambition to offer all payment methods used worldwide. For the French and European tourism ecosystem players, this partnership represents a major advancement and the promise of new business opportunities to come.”
Christophe Mariette, Commercial Director of Lyra France
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During his visit to France, PM Narendra Modi announced that UPI payment would start from the Eiffel Tower. Addressing the Indian community, Paris PM Modi alleged
“Be it India’s UPI or other digital platforms, they have brought a huge social transformation in the country and I am happy that India and France are also working together in direction. India and France have agreed to use UPI in France. I will leave after the agreement. However, it is your job to move forward. Friends, in the coming days its beginning will be made from the Eiffel Tower which means that Indian tourists will now be able to make payments in Rupees, through UPI, at the Eiffel Tower,”
PM Narendra Modi
In 2023, the Indian government said that NRIs from ten countries could use UPI to send and receive money if their domestic bank accounts were connected to their phone numbers abroad. The list of other countries includes Canada, Hong Kong, Singapore, Australia, Oman, the US, Qatar, Saudi Arabia, the United Kingdom and the United Arab Emirates.
In February 2023, India and Singapore linked their online podium systems UPI and PayNow to enable instant transfers, and in Singapore, the route will include PayNow for UPI payments to work. For UPI in Singapore, the DBS Bank offers an exchange rate to the NPCI and the organizations a markup to the rate; after that, the rate and markup would be shown to the customer, and the transaction goes through only when the customer agrees.
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The NPCI’s settlement bank then orders the DBS bank to rit the beneficiary’s bank in Singapore dollars and share a part of the markup with these ending banks, and all banks share the same share. This acceptance of UPI in France opens up many opportunities for merchants across France and Europe operating in the tourism and retail sectors, as NPCI mentioned.
Lyra Network Mentioned,
“UPI integration in France is a transformative milestone, revolutionizing payment methods for businesses and individuals. It accelerates UPI adoption among French merchants, ensuring secure, interoperable cross-border transactions. ” Also, the Lyra Network added, “UPI’s introduction is a strategic move, fostering economic collaboration between India and France. In 2024, Lyra Network aims to enter the global UPI arena, empemphasizingS and Switch solutions and collaborating with fintech, banks, government projects, and merchants while expanding our customer base”.
Lyra Network Mentioned.
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