News Brief

Indian Innovation Going Global: UPI Formally Launched At Eiffel Tower In France Days After Macron's India Visit

Kuldeep Negi

Feb 03, 2024, 03:37 PM | Updated 03:37 PM IST

UPI was formally launched at the iconic Eiffel Tower in Paris, France
UPI was formally launched at the iconic Eiffel Tower in Paris, France

India's real-time payment system, Unified Payments Interface (UPI), has been formally launched at the Eiffel Tower in Paris, the Indian Embassy in France said on Friday (2 February).

The Indian Embassy termed termed the launch of the service as part of Prime Minister Narendra Modi's "vision of taking UPI global."

In a post on X, the Indian Embassy in France said, "UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. Implementing PM @narendramodi's announcement & the vision of taking UPI global".

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Responding to the Indian Embassy's post, Prime Minister Narendra Modi expressed happiness over the launch of the UPI in France.

"Great to see this- it marks a significant step towards taking UPI global. This is a wonderful example of encouraging digital payments and fostering stronger ties," PM Modi said.

This move comes days after French President Emmanuel Macron visited India for a two-day trip on 25 and 26 January. He was the Chief Guest at the Republic Day parade in New Delhi.

The UPI is India's real-time mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer.

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood.

It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.

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Kuldeep is Senior Editor (Newsroom) at Swarajya. He tweets at @kaydnegi.

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