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India's Unified Payments Interface (UPI) has expanded its footprint to the heart of Paris, with the flagship store of Galeries Lafayette on Haussmann Boulevard now accepting UPI payments.
This landmark move is a step further in realising Prime Minister Narendra Modi's vision of globalising UPI, which is an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.
"On July 3, 2024, the Unified Payments Interface (UPI) became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower," read a press release by Indian Embassy in France.
Ambassador of India to France and Principality of Monaco Jawed Ashraf launched UPI by live use at the store in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group.
Recalling the success of the UPI launch at the Eiffel Tower in January 2024 and the meeting hosted for potential merchants with NPCI International in February 2024, the Ambassador welcomed the quick conclusion of the agreement and arrangement between Lyra and NPCI for the launch of UPI at the world-famous Galeries Lafayette ahead of the Paris Olympics starting July 26, 2024, which is expected to draw large number of Indian visitors.
"Ambassador recalled the first international launch of UPI in Singapore in 2018 by Prime Minister of India, Narendra Modi, and expressed satisfaction at the international journey of UPI," the release also said.
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He hoped that, in addition to quick, safe and efficient means of cross-border digital payments, UPI will grow as a medium of cross-border remittances and eventually become the digital payment system in countries across the world, it added.
As Paris gears up for the 2024 Olympics, this initiative aims to facilitate seamless transactions for a growing number of Indian visitors and underscores UPI's evolving role as a global digital payment solution.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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