UPI, RuPay in France: Why launch of UPI, RuPay Card services in France will be significant?

UPI in France: The National Payments Corporation of India International on June 16, 2022, signed a Memorandum of Understanding (MoU) with Lyra Network of France. As per the signed MoU, Indians will soon be able to pay with their UPI or RuPay Cards in France which will prove to be beneficial for the Indian students or the travelers. The news regarding the MoU signed for the UPI, RuPay launch in France was announced by the Union Minister of Electronics and Information Technology, Ashwini Vaishnaw. He also added that in France where there is a terminal or machine of Lyrca Network, India will be able to pay with the UPI and RuPay Card.

NPCI International has signed an MOU with Lyra Network of France for acceptance of UPI and RuPay cards in France.
@AshwiniVaishnaw @GoI_MeitY pic.twitter.com/MOwGyE2zPe

— NPCI (@NPCI_NPCI) June 16, 2022

UPI RuPay France: MoU signed between India and France

The National Payments Corporation of India International (NPCI International), the International arm of the National Payments Corporation of India (NPCI) has signed a Memorandum of Understanding (MoU) with Lyra Network, a French Payment Solutions Company.

The Union Minister Ashwini Vaishnaw informed that UPI is already an internationally accepted mode of payment as it is already used in UAE, Singapore and Bhutan and after France, the next focus of NPCI International is Nepal.

UPI RuPay France: Why the launch of UPI, RuPay card in France is significant?

With the launch of UPI, RuPay in France, Indians will be allowed to pay using the UPI and RuPay cards at terminals and machines offered by Lyra Networks. It will further make it easier, particularly for the students and tourists from India to make payments.

The move will also boost RuPay, which recently received a shot after the country’s central bank had announced that RuPay credit cards will soon be linked to the UPI network, allowing the users to make payments with their RuPay credit card by using UPI apps.

UPI, RuPay in France: In which other countries the services are available?

Apart from France, the Indians are eligible to use UPI in countries such as Bhutan and Singapore. The National Payments Corporation of India International (NCPI) is also in talks to enable UPI payments services in Nepal.

The launch of UPI RuPay in France has also come only two months after NPCI International had announced a partnership with NeoPay, a payments subsidiary of UAE’s Mashreq Bank, allowing the Indians in the UAE to make payments using UPI on the company’s terminals across the country.