UPI Enters France! Indians In France Will Transfer Money, Make Payments Using UPI| UAE, Singapore Already Has UPI
The union communications and electronics & information technology minister Ashwini Vaishnaw has announced that soon UPI and Rupay cards will be accepted in France, giving a boost to the Unified Payments Interface (UPI) and Rupay.
Rupay In France
To make it happen, the National Payments Corporation of India International (NPCI International) and the international arm of National Payments Corporation of India (NPCI) has signed a memorandum of understanding (MoU) with Lyra Network, as per the report.
Here, Lyra Network is a French payment solutions company.
The Lyra Networks will allow Indians to pay using UPI and Rupay cards at terminals and machines offered by Lyra Networks, as per the MoU.
This move will definitely make life easier especially for students and tourists from India to make payments.
Payment Through UPI In UAE
The announcement comes just two months after NPCI International had announced a partnership with NeoPay, a payments subsidiary of UAE’s Mashreq Bank.
This deal will be allowing Indians in the UAE to make payments using UPI on the company’s terminals across the country.
While talking about the deal, the union minister Ashwini Vaishnaw said, “An MoU has been signed b/w NPCI, International and Lyra Network of France for ‘Acceptance of UPI & Rupay Card in France. India is doing 5.5 billion UPI transactions in a month. Today’s MoU with France is a big achievement for us,”.
UPI In Bhutan, Singapore And Nepal
The move will definitely give a boost to Rupay which has recently received a shot in the arm when the country’s central bank announced that Rupay credit cards will soon be linked to the UPI network.
This will allow users to make payments with their Rupay credit card by using UPI apps.
We already know that Indians can use UPI in countries like Bhutan and Singapore.
Presently, NPCI International is also in talks to enable UPI payments in Nepal.
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