India's Unified Payments Interface (UPI) has extended its reach to the heart of Paris, with the flagship Galeries Lafayette store on Haussmann Boulevard now accepting UPI payments.
This milestone reflects Prime Minister Narendra Modi's vision to globalize UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.
According to a press release from the Indian Embassy in France, on July 3, 2024, UPI went live at Galeries Lafayette, following its successful launch earlier at the Eiffel Tower.
Ambassador of India to France and Principality of Monaco Jawed Ashraf inaugurated the service in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group.
Highlighting previous milestones such as the UPI launch at the Eiffel Tower in January 2024 and meetings with NPCI International in February 2024, the Ambassador welcomed the swift agreement between Lyra and NPCI, timed before the Paris Olympics starting on July 26, 2024, which is expected to attract many Indian visitors.
The release also mentioned the first international UPI launch in Singapore in 2018 by Prime Minister Narendra Modi and expressed optimism about UPI's potential growth as a global digital payment system, facilitating efficient cross-border transactions and remittances.
As Paris prepares for the 2024 Olympics, this initiative aims to streamline transactions for a growing number of Indian tourists, underscoring UPI's role as a versatile global digital payment solution.
