UPI expands to Greece, enables instant money transfers: Piyush Goyal
New Delhi, June 30
India's Unified Payments Interface has now expanded to Greece, enabling eligible customers to transfer money at transaction costs significantly lower than conventional international transfers, Union Commerce Minister Piyush Goyal said.
Taking to X, Goyal said he witnessed a live demonstration of the Eurobank-NPCI International Payments Ltd (NIPL) partnership enabling UPI services at Eurobank headquarters in Athens.
He added that the development marks another milestone in the global expansion of India's digital payments ecosystem.
"Delighted to witness the live demonstration of the Eurobank-NIPL partnership enabling UPI services at Eurobank headquarters in Athens, alongside its CEO, Mr. Fokion Karavias, and CEO of Fairfax Digital Services, Mr. Sanjay Tugnait, marking another important milestone in the global expansion of India's digital payment ecosystem," he said.
Goyal further highlighted that as UPI is now live in Greece, eligible customers can now send money instantly, securely, and seamlessly, at transaction costs that are significantly lower than conventional cross-border transfer charges.
"With UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reducing drastically to a fraction of conventional transfer costs," he added.
Goyal lauded PM Narendra Modi for the increasing global acceptance of UPI. He further added that the rising adoption and appreciation of UPI reflects PM Modi's vision of creating a technology-led solutions that create value beyond borders and deepen partnerships for shared growth and prosperity.
"The increasing global acceptance and appreciation of UPI reflects the trust in PM @NarendraModi ji's vision of building technology-led solutions that create value beyond borders and deepen partnerships for shared growth and prosperity," he added.
Earlier this year, the Indian government signed MoU with 23 countries for the cooperation on India Stack / Digital Public Infrastructure (DPI). Further, UPI had been live in over eight countries, including -- UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar. "MoUs have been signed with Cuba, Kenya, United Arab Emirates and Lao People's Democratic Republic (LPDR) for Digilocker," as per a statement by Ministry of electronics & IT.
— ANI
Reader Comments
Great step for global payments, but I hope they also address the security concerns. With more countries adopting UPI, fraud risks could increase. Need robust safeguards before celebrating too much.
Impressive expansion! As someone who frequently sends money to family in India, the lower transaction costs are a huge relief. UPI is setting a global standard for instant, affordable transfers.
Proud moment for India! From street vendors in Mumbai to banks in Athens—UPI's journey is incredible. Just wish the government focuses on rural connectivity too, so everyone benefits equally. 👏
Kya baat hai! Greece is just the beginning. Soon UPI will be everywhere—Europe, US, Middle East. Makes life so easy for NRIs and students abroad. Thanks to PM Modi's vision. Jai Hind! 🇮🇳
Interesting development. Lower fees are welcome, but I wonder about interoperability with local Greek banks. Hope it's not just a limited rollout. Still, good to see India leading in digital payments.
This is the kind of 'Digital India' we want—global impact! UPI in Greece will make remittances cheaper for many families. Hope the infrastructure stays reliable during high
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.