France becomes first Western Nation to accept UPI!!!
Unified Payments Interface (UPI) and RuPay cards will soon be accepted in france as NPCI international Payments Limited (NPCIL) on thursday announced that it has signed a Memorandum of Understanding (MoU) with French payment services company Lyra Networks. India has achieved a major achievement regarding the transaction of UPI and Rupay cards in france, which will directly benefit the indians going to France.
Earlier NPCI had partnered with firms including Discover Financial services (DFS) of the US, Royal Monetary Authority (RMA) of Bhutan, japan Credit Bureau (JCB) of japan, and Network for Electronic Transfer (NETS) of Singapore, followed by India. There is a new development of the Rupay card and UPI.
The parent company of the payments division made the disclosure on Social media. IT minister Ashwini Vaishnaw said in the announcement, "Considering india doing 5.5 billion UPI transactions per month, this strategic partnership will certainly prove to be a game-changer in the digital payments ecosystem." In July last year, NIPL partnered with Bhutan's central bank RMA to enable QR-based UPI transactions in the country. This was an extension of NIPL in the Bhutanese market as it was earlier accepting and issuing RuPay cards.
