I think UPI will be live in France in about three to four months: NIPL CEO Ritesh Shukla
Jul 18, 2023
Gandhinagar (Gujarat) [India], July 18 : NPCI International Payments Limited (NIPL) CEO Ritesh Shukla said he thinks that it will take about three to four months for Unified Payments Interface (UPI) to go live in France.
Speaking to 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.
Asked about when the operations of UPI will commence in France, Ritesh Shukla said, "So, we have just signed the agreement with them and the Honorable Prime Minister announced it during his visit to France last week. Now, given the agreement is in place, 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."
Indian tourists to France will be able to pay for tickets to the Eiffel Tower and other attractions in rupees after both countries agreed to use the Indian government’s Unified Payments Interface (UPI).
Ritesh Shukla said UPI-powered apps can be used in Singapore, Bhutan and the United Arab Emirates. He said that they are working with many other countries to start the operation of UPI. He announced that UPI will go live in another two to three countries in the next three to four months.
"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.
The mobile payment method will make it easier for tourists to do away with cumbersome forex cards and avoid the need to carry cash.
"The work is underway and in the next three to four months, we will be going live in another two to three countries. So, the plan is to ensure that Indians who are travelling from India, should be able to use their UPI-powered apps the same way that they are currently using in India. And our focus is in the markets where there is good QR acceptance and markets that are important for travellers from India," he added.
Prime Minister Narendra Modi on Thursday announced that India and France have agreed to use Unified Payments Interface (UPI) payment mechanism and it will begin from the iconic Eiffel Tower. PM Modi said that Indian tourists in France will now be able to make payments in rupees.
Notably, Unified Payments Interface (UPI) is India's mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer.
Ritesh Shukla said that NPCI plays a very important role in the digital landscape of India. He called G20 a proud event for all the Indians.
"India is the president of G20 this year and I think it's a proud event for all of us being Indians and I think the attempt here through this presence here in G20 Gandhinagar is to showcase the good work that our organization NPCI has done in India," Ritesh Shukla said.
"NPCI today plays a very, very important role in the digital payment landscape of India and we are very proud of what we have achieved. We are today actually the key growth driver for digital payments in India and we are looking at replicating or we are ready to replicate this kind of achievement in other countries. So the objective is to not only showcase what we have done in India but also to highlight that we are ready for collaboration at a global scale helping countries achieve similar digital public good in their own countries," he added.
India and France in the Horizon 2047 said, "India and France commit to nurturing a thriving ecosystem and building collaborations that empower their citizens and ensure their full participation in the digital century."
It further said, "In this spirit, last week, NPCI International Payments Limited (NIPL) and France’s Lyra Collect executed an agreement to implement Unified Payment Interface (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."
