Rapid Fire
UPI Goes Global from Eiffel Tower
- 08 Feb 2024
- 1 min read
Recently, Unified Payments Interface (UPI) was formally launched at India's Republic Day celebration in Paris, France, at the iconic Eiffel Tower.
- This event marks a significant step towards globalizing UPI and promoting digital payments,
- Developed by the National Payments Corporation of India (NPCI) in 2016, UPI is an instant payment system that integrates multiple bank accounts into a single mobile application, simplifying various banking functions, fund transfers, and merchant payments.
- The partnership between NPCI's subsidiary, NPCI International Payments (NIPL), and France's Lyra Collect has led to an agreement to introduce UPI in France and Europe.
Read more: Unified Payments Interface
