PM Modi France visit: France, first country in Europe, likely to adopt UPI system

PM Narendra Modi's three days visit to France is expected to strengthen the bilateral ties between the countries. Even though the discussions are poised to be more on the defence side, both the countries will strengthen their ties in sectors like digital payment system, manufacturing and clean energy.

As per a report by Hindustan Times, discussions on establishing UPI system in France will be held. The deal is expected to be similar to that of the India-Singapore fast payment linkage. This will be the first in Europe if the Macron government decides to link their payment app Lyra with UPI. The report further stated that PM Modi would launch the linkage from an iconic location in Paris if the deal goes through.

In 2022, the NPCI signed an MoU with France's Lyra to accept UPI and Rupay in the country. India is also looking to expand the UPI services in US, Europe and West Asia.

In 2023, India and Singapore signed an agreement by which users of UPI and Singapore's PayNow can now send money across borders quickly, securely, and affordably via their respective mobile apps. UAE and Bhutan has also adopted India's UPI system so far.