India on Friday formally launched UPI at the iconic Eiffel Tower here, terming it as taking Prime Minister Narendra Modi's vision of taking Unified Payments Interface global.
Unified Payments Interface is an Indian instant payment system developed by the National Payments Corporation of India in 2016.
"UPI formally launched at the iconic Eiffel Tower at the huge Republic Day Reception. Implementing PM @narendramodi's announcement & the vision of taking UPI global," the official X handle of India's Embassy in France posted along with the photos of the event.
Replying to this, Modi said, "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."
UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing and merchant payments into one hood, according to NPCI.
Incidentally, at the invitation of Prime Minister Modi, Emmanuel Macron, President of France, was the Chief Guest for the 75th Republic Day celebrations in New Delhi on January 26. -- PTI