France gets India’s UPI; Details here

NPCI International Payments Limited (NIPL) has partnered with Lyra, a key player in secure e-commerce and proximity payments in France, to bring the Unified Payments Interface (UPI) to the French market. The collaboration kicks off with the iconic Eiffel Tower, offering Indian tourists the convenience of booking tickets online through their UPI-powered apps.

Given that Indians represent the second-largest group of international visitors to the Eiffel Tower, this move holds significant importance. The partnership allows Indian tourists to securely make online transactions by scanning a QR code generated on the merchant’s website using their UPI apps, according to NPCI.

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NIPL’s CEO, Ritesh Shukla, expressed the company’s goal to actively collaborate with global financial institutions, providing consumers with secure cross-border payment solutions. Christophe Mariette, the Commercial Director of Lyra France, emphasized the partnership’s potential impact on the tourism sector, describing it as a major advancement for players in the French and European tourism ecosystem.

The collaboration follows Indian Prime Minister Narendra Modi’s announcement of the UPI agreement between India and France last year. The National Payments Corporation of India (NPCI) had signed a memorandum of understanding (MoU) with Lyra in 2022. The introduction of UPI payments in France enables Indian tourists to make transactions in rupees through UPI, potentially avoiding markup charges associated with credit and debit card payments for international transactions. This exemption is attributed to payments being made in rupees and the collaborative agreement between NPCI and France’s Lyra Network.