India has introduced the Unified Payments Interface (UPI) at Paris’ renowned Galeries Lafayette department store following a successful debut at the iconic Eiffel Tower. UPI is a system that integrates multiple bank accounts into a single mobile application from any participating bank, combining various banking features, seamless fund routing, and merchant payments into one platform, according to the NPCI.
“On July 3, 2024, the UPI became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower,” the Indian Embassy in France said in a release on Thursday.
Ambassador @jawedashraf5 was delighted to launch @UPI_NPCI in the world famous @Galeries_Laf in Paris.
After the launch in Eiffel Tower in Jan 2024, expanding UPI across France.
A journey that PM @narendramodi began in 2018 with UPI in Singapore takes another step forward.… https://t.co/ValRJfoAuk
— India in France (@IndiaembFrance) July 4, 2024
Jawed Ashraf, the Ambassador of India to France and the Principality of Monaco, inaugurated the UPI system with a live demonstration at the store. He was joined by Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group, according to the release. “Delighted to launch @UPI_NPCI in the world-famous @Galeries_Laf in Paris. After the launch in the Eiffel Tower in Jan 2024, expanding UPI across France. A journey that PM @narendramodi began in 2018 with UPI in Singapore taking another step forward,” Ashraf said in a post on X.
This significant move aligns with Prime Minister Narendra Modi’s vision of globalizing UPI, an Indian instant payment system developed by the National Payments Corporation of India (NPCI) in 2016. Reflecting on the successful UPI launch at the Eiffel Tower in January 2024 and the February 2024 meeting hosted for potential merchants with NPCI International, the Ambassador welcomed the swift finalization of the agreement and arrangement between Lyra and NPCI.
This launch at the renowned Galeries Lafayette comes just ahead of the Paris Olympics starting on July 26, 2024, which is expected to attract a large number of Indian visitors, according to the release.