France to Implement India’s UPI Payment System: PM Modi
On Thursday, Prime Minister Narendra Modi announced that India and France have reached an agreement to implement the Unified Payments Interface (UPI) payment mechanism. This significant step will commence at the renowned Eiffel Tower. As a result, Indian tourists visiting France will now have the convenience of making payments in rupees.
While speaking to the Indian community in Paris at La Seine Musicale,PM Modi said, “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.”
PM Modi announced that India and France have reached an agreement to implement UPI in France. He emphasized that it is now the responsibility of the community to move forward with this initiative. The Prime Minister shared his excitement about the upcoming launch of UPI payments at the iconic Eiffel Tower, enabling Indian tourists to make transactions in Rupees through UPI. These statements were reported by ANI.
The announcement is regarded as a noteworthy advancement for bilateral trade and tourism between India and France. According to PM Modi, the two countries have been engaged in archaeological missions for a considerable period. This collaboration has expanded from Chandigarh to Ladakh. Additionally, PM Modi highlighted the significance of digital infrastructure in strengthening the ties between India and France.
Furthermore, PM Modi emphasized the people-to-people connection between France and India, considering it the “strongest foundation” of the partnership between the two nations, as reported by ANI.
According to the Prime Minister, “India and France are tackling many challenges of the 21st century. Therefore, at this crucial time, the importance of the strategic partnership between our countries has increased even more.”
During his two-day official visit to Paris, the Prime Minister received a ceremonial welcome at the airport. French Prime Minister Elisabeth Borne personally welcomed him upon his arrival.
In India, the Unified Payments Interface (UPI) is a mobile-based payment system that enables individuals to make round-the-clock payments. This system operates through a virtual payment address created by the customer.
Earlier this year, UPI and Singapore’s ‘PayNow’ signed an agreement. This agreement aims to facilitate users in both countries to make cross-border transactions.
Summary
India and France have agreed to implement India’s UPI payment system, allowing Indian tourists in France to make payments in rupees. The initiative will commence at the Eiffel Tower and is seen as a significant development for bilateral trade and tourism.
