Indian tourists visiting France can now rejoice as Prime Minister Narendra Modi announced that they will soon be able to make payments using the Unified Payments Interface (UPI).
In his address to the Indian community in France, PM Modi highlighted the convenience and benefits of UPI, which eliminates the need for forex cards or carrying large amounts of cash.
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This article explores how the introduction of UPI in France will transform the payment landscape for Indian tourists, providing them with a seamless and secure payment option while strengthening the bilateral ties between India and France.
UPI: Empowering Indian Tourists in France
The introduction of UPI in France is excellent news for Indian tourists, as it offers a user-friendly and efficient payment method.
UPI, an innovative payment system developed by the National Payments Corporation of India (NPCI), allows users to merge multiple bank accounts into a single mobile application.
This integration enables Indian tourists to access various banking features, make fund transfers, and conveniently pay merchants using their smartphones.
Benefits of UPI for Indian Tourists
With UPI, Indian tourists will no longer face the hassle of carrying cumbersome forex cards or large amounts of cash while traveling in France.
Instead, they can rely on their mobile phones for seamless and secure payments. UPI eliminates the need for currency exchange, enabling Indian tourists to pay directly in Indian rupees at selected locations, such as the Eiffel Tower in Paris.
The Expansion of UPI Globally
The success of UPI within India has paved the way for its international expansion. The NPCI signed a memorandum of understanding with Lyra, a French online payment system, in 2022.
Additionally, UPI established an agreement with PayNow, Singapore's payment system, enabling cross-border transactions between the two countries.
This demonstrates the growing recognition and acceptance of UPI as a reliable and efficient payment solution.
UPI's Impact on Digital Payments
The advent of UPI in France further strengthens India's efforts to promote its digital payment system globally.
UPI's adoption not only benefits Indian tourists but also strengthens the bilateral relationship between India and France in the realm of digital payments.
The introduction of UPI in France opens up exciting possibilities for enhanced cooperation in various sectors.