‘UPI to go live in France in three to four months..,’ says NIPL CEO Ritesh Shukla

According to Ritesh Shukla, the CEO of NPCI International Payments Limited (NIPL), he anticipates that it will take approximately three to four months for the Unified Payments Interface (UPI) to become operational in France.

As reported by ANI, Ritesh Shukla said that India and France have just signed the agreement and Prime Minister Narendra Modi announced it during his visit to France. He said that they are working on creating readiness on both sides with banks in India and merchants in France.

Speaking about the commencement of UPI operations in France, Shukla said, "We are working on creating readiness on both sides with banks in India and with merchants in France and I think it will take about three to four months for us to go live, so we are working towards making that happen."

Also Read: ‘France to soon start using India's UPI payment mechanism ’: PM Modi

Indian tourists visiting France will now have the convenience of paying for Eiffel Tower tickets and other attractions in rupees, following an agreement between both countries to utilize the Indian government's Unified Payments Interface (UPI).

Ritesh Shukla also mentioned that UPI-powered apps are already usable in Singapore, Bhutan, and the United Arab Emirates. Furthermore, they are actively collaborating with several other countries to implement UPI operations. In the next three to four months, UPI is expected to go live in two to three additional countries.

"So, basically, today UPI powered apps Bhim UPI can be used in countries like UAE, Singapore and Bhutan. And in addition to these, we are working with many other countries who are of importance to travellers from India within the region and wherever there is QR-based acceptance," Ritesh Shukla told ANI.

Also Read: India likely to offer digital infra to several countries

The mobile payment method will make it easier for tourists to do away with cumbersome Forex cards and avoid the need to carry cash.

Shukla further stressed that the focus is on the markets where there is good QR acceptance and markets that are important for travellers from India.

On Thursday, Prime Minister Narendra Modi announced that India and France have reached an agreement to utilize the Unified Payments Interface (UPI) payment mechanism, starting at the iconic Eiffel Tower. This will enable Indian tourists in France to make payments in rupees.

Also Read: UPI to enter North America, other Middle-Eastern countries soon: NIPL CEO

UPI is India's mobile-based payment system, facilitating round-the-clock payments through a virtual payment address created by customers. Ritesh Shukla emphasized that NPCI plays a crucial role in India's digital landscape, expressing pride in India's participation in the G20 event.

It further said, "Last week, NPCI International Payments Limited (NIPL) and France’s Lyra Collect executed an agreement to implement UPI in France and Europe. The payment mechanism is in its last phase of production and will go live by September 2023 with the iconic Eiffel Tower, Paris as the first merchant in France to accept UPI." 

(With inputs from ANI)