India Celebrates the Launch of UPI Payments Under the Eiffel Tower’s Glow
India took a historic step by launching the Unified Payments Interface (UPI) right at the foot of the breathtaking Eiffel Tower. The Indian Embassy in France shared this exciting news, highlighting it as a realization of Prime Minister Narendra Modi’s dream to introduce UPI to the world. This significant moment took place during the Republic Day reception in France, marking a new chapter in India’s digital journey.
Developed by the National Payments Corporation of India (NPCI) back in 2016, UPI has revolutionized the way Indians transact. This ingenious mobile-based payment system enables users to transfer money 24/7 using a unique virtual payment address, eliminating the need for bank account numbers or IFSC codes. UPI brings together various banking services and features under one umbrella, making banking seamless for everyone, whether it’s for sending money to friends or paying merchants.
The seeds for this landmark event were sown during Prime Minister Modi’s visit to France in July of the previous year. It was then that he announced the groundbreaking agreement between India and France, choosing none other than the iconic Eiffel Tower as the launchpad for UPI in France. Modi’s vision was clear – to simplify the lives of Indian tourists in France by enabling them to make payments in rupees, seamlessly connecting two cultures through technology. More details here.
