India and France have signed an agreement in the digital payments sector.
India’s unified payments interface (UPI) can now be used for retail payments in the European nation, thus becoming the first European country enable this.
Prime Minister Narendra Modi announced this while addressing the Indian community in Paris.
In June last year, the National Payments Corporation of India’s (NPCI) international arm signed a MoU with France’s Lyra Network for acceptance of UPI and RuPay in the European country.
Enabling UPI payments in France has further expanded the scope of payments through UPI in foreign countries.
With this, Indian tourists would now be able to make payments in France in rupee through UPI.
It will be started from Eiffel Tower. It will also encourage digital payments in France, which has a low use of digital payments.
Indians visiting France will no longer need to use credit cards or debit cards only for payments.
UPI payments have also been enabled in Singapore earlier this year.