'Another significant step': Commerce Minister Piyush Goyal launches UPI in France
New Delhi, June 16
Commerce Minister Piyush Goyal on Tuesday launched Unified Payments Interface at the iconic Galeries Lafayette in Nice, France, which will enable Indian travellers visiting the country to make seamless payments abroad through familiar platforms.
"Bringing India's world-class digital payments platform to one of France's premier retail destinations marks another significant step in UPI's global expansion. With the participation of Lyra Collect and NIPL, this initiative showcases India's ability to deliver trusted, seamless, and interoperable digital solutions at scale," the minister said in a post on X after the launch.
"The launch further strengthens the economic and technological ties between India and France, reflecting the growing depth and ambition of our strategic partnership," he added.
This digital payment corridor represents a major shift in how commerce operates between the two countries, delivering immediate benefits of enhanced traveller convenience by eliminating the friction of physical currency exchange, carrying large amounts of cash, or navigating unfamiliar foreign exchange fees.
It will also give an economic boost to French businesses, which will gain immediate access to a massive, tech-savvy Indian visitor demographic, driving higher transaction volumes. The local merchants will also experience optimised cash management, lowered overhead costs associated with physical cash handling, and secure, real-time transaction settlements, a senior official said.
France is the second country this month in which UPI has been launched, after Cambodia on June 3. The breakthrough collaboration went live following a formal ceremony in Phnom Penh, attended by Chea Serey, Governor of the National Bank of Cambodia, alongside high-level representatives from the Reserve Bank of India (RBI). The event marked the completion of Phase 1 in establishing a cross-border QR payment linkage between the two nations through Bakong's KHQR, Cambodia's national QR code, the statement said.
The first phase enables millions of Indian travellers to make seamless QR payments at over 4.5 million Cambodian merchants, with a two-way corridor to follow. While the first phase prioritises incoming Indian travellers, the partnership is explicitly designed to scale. In the subsequent phase, the corridor will become fully bi-directional. Cambodian citizens visiting India will soon be able to use their domestic banking and digital payment applications to scan millions of UPI QR codes throughout India, completing a highly advanced, two-way interoperable financial network.
— IANS
Reader Comments
This is genuinely impressive. India's digital infrastructure is light-years ahead of what we have in the US. Meanwhile, our banking apps still crash during peak hours. Kudos to the Indian government for pushing UPI globally!
Great move but I hope they keep the transaction fees low for small purchases. UPI is supposed to be free or minimal cost, yaar. Don't want banks to start charging hidden fees abroad like they do sometimes here.
Absolutely brilliant! And Cambodia too? India is quietly dominating the digital payments ecosystem. From Chai tapris in Delhi to high-end boutiques in France - UPI is everywhere now. Proud moment! 🎉
As someone who travels to India for work regularly, I can say UPI is one of the best things about the country. It's fast, reliable, and works everywhere. Great to see France adopting this - makes life easier for Indian travelers and businesses alike.
One small concern - will this work offline or in areas with poor connectivity? France has good networks but still, sometimes tourists go to remote places. Also hope the security protocols are solid. Otherwise, fantastic initiative, commerce ministry!
Bhai, this is exactly what 'Vishwaguru' looks
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