The development comes after Emmanuel Macron, President of France, attended the 75th Republic Day celebrations as the Chief Guest in New Delhi on January 26.
Great to see this- it marks a significant step towards taking UPI global. This is a wonderful example of encouraging digital payments and fostering stronger ties. https://t.co/jf1sTf41c5— Narendra Modi (@narendramodi) February 2, 2024
NPCI's partnership with Lyra
NPCI International Payments Limited has partnered with Lyra, a French leader in securing e-commerce and proximity payments and has announced the acceptance of a Unified Payments Interface (UPI) payment mechanism in France, starting with the Eiffel Tower.
“It is a great pride to have the trust of the Indian government and NIPL to launch UPI in Europe," said Christophe Mariette, Commercial Director of Lyra France. He said Lyra has been present in India for 17 years, and the current partnership with NPCI strengthens its collaboration with the country.
"For the players in the French and European tourism ecosystem, this partnership represents a major advancement and the promise of new business opportunities to come," Mariette said.
Benefitting Indians in France
The partnership has enabled Indian tourists, who are the second largest group of international visitors to the Eiffel Tower, to experience a seamless transaction process.
Visitors at the Eiffel Tower can simply scan a QR code generated on the merchant's website and use their UPI-powered apps to purchase tickets online. This makes the transaction process quick, easy, and hassle-free, thereby enhancing the overall experience for Indian tourists in France.
“At NIPL, our ambition is to enable acceptance of NPCI's payment solutions in international markets and create a truly interoperable global payment system," said Ritesh Shukla, CEO of NPCI International Payments Limited (NPIL).
What does it mean for the future of payments in France and Europe?
The acceptance of UPI in France is not just a win for Indian tourists but also opens up new avenues for merchants in the tourism and retail sectors across France and Europe.
While the Eiffel Tower is the first merchant to offer UPI payments in France, NPCI said the service will soon be extended to other merchants in the tourism and retail space, making it significantly easier for touring Indians to remotely book hotels, museum visits, etc., for their stay in France.
"We aim at actively collaborating with financial institutions worldwide to establish partnerships and provide consumers with convenient and secure cross-border payment solutions. Through this strategic partnership with Lyra, we have taken another step forward towards this goal," Shukla said.
Join our new WhatsApp Channel for the latest startup news updates