Guwahati: After being named “nation of the year” at Europe’s largest start-up conference, Vivatech 2020, an Indian diplomat announced that India’s Unified Payments Interface (UPI) and RuPay cards will soon be authorized in France.
The National Payments Corporation of India (NPCI) and the Lyra Network of France signed a Memorandum of Understanding (MoU), said Jawed Ashraf in a media interview.
France has already started the procedure. “We attempted and succeeded in launching.” The majority of the merchandise accepts UPI and RuPay cards. I am certain that we can accomplish the same in Europe. We are attempting to launch UPI and RuPay cards in France soon. We will need to address this with the French central bank, regulator, and businesses. Digital payment is used very little in France. However, it must be smooth and interwoven. “It lacks the efficiency that we have in India,” Ashraf remarked.
‘India can push UPI to the European Union via France.’ He also shared his experience with the smooth and transparent digital payment mechanism and how beneficial it may be in France. When he didn’t have cash or a check to pay a doctor, Ashraf stated, “I had to go to an ATM to withdraw cash to make payment.”
“If UPI comes to France, the people will profit.” If we communicate the advantages of UPI with the French people, they will accept it. Regulators, banks, and businesses will all accept it. If we execute it at the Bank of France, I believe we will be able to push it through the European Union as well,” Ashraf stated. “We must begin with France.” Some banks, such as BNP Paribas, Societe Generale, and others, have a presence in India and are aware of UPI’s success,” the ambassador continued.
Meanwhile, India has been named “nation of the year” at Europe’s largest start-up conference, Viva Technology 2022. According to the Ambassador, both President Emmanuel Macron and Prime Minister Narendra Modi have made digital technology a vital pillar of their nations’ strategic alliance in the twenty-first century.