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India’s Mobile Payment Revolution Goes Global: UPI Launches at Eiffel Tower

UPI Launches at the Iconic Eiffel Tower in Paris
The Unified Payments Interface (UPI) formally launched at the Eiffel Tower in Paris, France on February 2nd, 2024. This event marks a significant milestone in expanding the reach of UPI globally, supporting the vision to take the mobile payments platform international. UPI, developed by National Payments Corporation in 2016, allows users to seamlessly conduct financial transactions across multiple bank accounts through a single smartphone application.
The global launch of UPI at an internationally recognizable landmark like the Eiffel Tower demonstrates the success and versatility of the platform. It also highlights the growing collaboration between India and France, who committed in 2023 to enable UPI payments in the European nation. The Eiffel Tower integration reflects the first phase of this agreement, with plans to spread UPI adoption to other merchants in tourism, retail, and other sectors across Europe. The Paris UPI launch represents a scientific and technological achievement for pioneering digital infrastructure in India.
About Unified Payments Interface (UPI)
The Unified Payments Interface (UPI) is a mobile payments system developed in 2016 to power streamlined banking services through a single smartphone application. This instant, round-the-clock platform merges numerous financial functionalities like fund transfers, merchant payments, and balance checks across multiple bank accounts into one unified hood.
Specifically, the UPI ecosystem allows participating banking apps to facilitate seamless money movements by linking savings and checking accounts via a virtual payment address. This technology eliminates the need to input additional sensitive information for transactions by enabling direct bank interactions through API systems. The architecture of UPI allows over 200 banks to channel billions of digital payments, cementing its position as a pioneering mobile payments solution in India.
UPI Launch in France
To facilitate the adoption of UPI payments in France, National Payments Corporation International (NIPL) strategically partnered with French financial technology provider Lyra. Founded in 2001 with headquarters in Toulouse, Lyra Payment specializes in payment servicing for banks, merchants, and global customers across 50 countries through 11 subsidiaries. This collaboration will allow Lyra to integrate UPI’s unique QR code-based payment flow across its expansive European client base.
The launch at the iconic Eiffel Tower, a top attraction among Indian tourists visiting France, demonstrates an inaugural use case to showcase UPI convenience to travelers. By simply scanning a QR code on the Eiffel Tower’s website, Indian visitors can now complete transactions in rupees through their UPI-linked bank accounts back home. This seamless user experience serves as a blueprint for Lyra to replicate across French merchants in tourism, retail, and other industries.
Expansion Plans for UPI worldwide
Strategic planning is underway between NIPL and Lyra Payment to expand integration to other major retail and tourism destinations across France, especially those frequented by Indian visitors. Guided by Lyra’s expertise in regional regulatory frameworks and technical workflows, this expansion strategy aims to transform UPI into a globally accepted visa-free payments platform.
The Eiffel Tower launch also holds symbolic significance in fortifying bilateral ties between India and France, who committed in 2023 to building an empowering digital ecosystem through collaborative research. As India continues to pioneer mobile payment solutions for the world, the joint UPI adoption exemplifies the strengthening strategic partnership between two leading nations.
India-France Collaboration
Demonstrating a strengthening strategic partnership, India and France committed in July 2023 to implement the Unified Payments Interface across Europe, beginning with France. This agreement paved the way to collaborate with homegrown French financial tech provider Lyra to integrate UPI’s QR code-linked payment rails across touchpoints like the Eiffel Tower. The deepening bonds were also visible during French President’s 2024 visit to India, when he utilized UPI to make purchases at local merchants. As India continues to build next-generation payment ecosystems, partnerships like the UPI integration highlight an expanding scope for technological collaboration with major global allies.
What is UPI?
UPI or Unified Payments Interface is an instant payment system developed by India’s NPCI that allows easy transactions across multiple bank accounts via a single smartphone application.
Which other places will adopt UPI payments in France?
Post its launch at the Eiffel Tower, there are plans to expand UPI payments to other major tourist and retail destinations across France.