India Current Update

UPI in France: Eiffel Tower sets the standard and provides Indians with easy transactions

<p>To launch the Unified Payments Interface (UPI) in France, NPCI International Payments Limited (NIPL) has partnered with Lyra, a top French authority in proximity payments and e-commerce.</p>
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<p>Through this agreement, a significant milestone has been reached: the famous Eiffel Tower has become the nation’s first merchant to accept UPI payments, making transactions easier for Indian visitors.</p>
<p>The transaction procedure has been streamlined for Indian visitors to the Eiffel Tower by enabling them to quickly buy tickets online using UPI.</p>
<p>At a celebration of India’s Republic Day held in Paris by the Indian Embassy, the news was made.</p>
<p>Considering that Indian visitors to the Eiffel Tower make up the second-largest group of foreign visitors, this action is quite significant.</p>
<p>With this advancement, Indian customers may now easily finish their payments online by using their UPI-enabled applications to scan the QR code created on the merchant website and perform safe online transactions.</p>
<p>In addition to providing Indian visitors with a practical method of payment, France’s approval of UPI creates new prospects for retailers and tourism-related businesses across Europe.</p>
<p>Although the Eiffel Tower was the first establishment in France to accept UPI payments, other retailers and travel agencies will soon be able to use this service as well.</p>
<p>Indian travelers will find it much easier to make reservations for hotels, museum visits, and other services in advance of their stay in France thanks to this.</p>
<p>Representatives from Lyra, including Alain Lacour, President of the Lyra Group, Christophe Mariette, Commercial Director of Lyra France, and Patrick Branco Ruivo, CEO of Société d’Exploitation de la Tour Eiffel, were among the notable guests at the announcement event. M. Jawed Ashraf, the Ambassador of India to France and Monaco, was also present.</p>
<p>Our mission at NIPL is to establish a worldwide interoperable payment system and increase the acceptance of NPCI’s payment solutions in foreign markets. In order to realize this goal, this collaboration with Lyra is a big step forward, according to NIPL CEO Ritesh Shukla.</p>
<p>“We are honored to have the Indian government’s and NIPL’s confidence in us to introduce UPI in Europe. This relationship not only shows how well we work with India, but it also shows how dedicated we are to providing a range of payment options all around the world. According to Christophe Mariette, Commercial Director of Lyra France, “this partnership brings forth new business opportunities for players in the French and European tourism ecosystem.”</p>
<p>UPI’s latest achievements demonstrate that, with over 380 million users, it has established itself as a dominant payment mechanism in India.</p>
<p>With more than 12.2 billion transactions in January 2024 alone, UPI cemented its status as the most effective instant payment system globally.</p>

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