India launches UPI at Eiffel Tower in Paris, expanding global reach

# PM Modi Hails the Global Expansion of UPI

RNS: India marked a significant milestone by formally launching the Unified Payments Interface (UPI) at the iconic Eiffel Tower during its Republic Day Celebration in Paris.

Prime Minister Narendra Modi expressed his delight at witnessing UPI’s formal introduction at this historic venue and considered it a crucial step towards globalizing UPI.

PM highlighted this achievement as a remarkable example of promoting digital payments and strengthening international bonds.

The official launch of UPI took place during the Republic Day reception held in France. This initiative aligns with Prime Minister Modi’s vision of expanding UPI’s reach worldwide.

UPI, a mobile-based payment system, was developed by the National Payments Corporation of India (NPCI) in 2016. It empowers individuals to make round-the-clock payments using a virtual payment address they create.

UPI unifies multiple bank accounts within a single mobile application, providing a seamless platform for fund transfers and merchant payments.

During his visit to France in July the previous year, Prime Minister Modi announced India’s agreement with France to implement the UPI payment mechanism, starting from the iconic Eiffel Tower.

He highlighted that Indian tourists in France would now have the convenience of making payments in rupees, further enhancing their travel experience.

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