India’s UPI launches in France through collaboration with Lyra Network
The National Payments Corporation of India (NPCI) has announced a partnership with French payment services firm Lyra Network, facilitating the acceptance of the Unified Payments Interface (UPI) payment method in France.
NPCI launches UPI in France
At an event in Paris, the NPCI declared that UPI, India’s instant payment system first introduced in 2016, can now be utilised when purchasing tickets for the Eiffel Tower.
The service is expected to be quickly rolled out to other tourism and retail vendors across the country.
Indian Prime Minister Narendra Modi wrote on X that the partnership “marks a significant step towards taking UPI global”, adding: “This is a wonderful example of encouraging digital payments and fostering stronger ties.”
NPCI International claims that UPI’s expansion will “make it significantly easier for touring Indians to remotely book hotels, museum visits, etc. for their stay in France”.
French-based payment management fintech Lyra Network states: “UPI integration in France is a transformative milestone.”
The firm’s CEO and MD, Rajesh Desai, explains that “UPI’s introduction is a strategic move, fostering economic collaboration between India and France.”
“In 2024, Lyra Network aims to enter the global UPI arena, emphasising POS and Switch solutions and collaborating with fintech, banks, government projects, and merchants while expanding our customer base,” he adds.
The move comes just weeks after Google Pay India entered into a Memorandum of Understanding (MoU) with the NPCI’s international payments subsidiary in a further bid to expand the reach of UPI globally.
