India launches UPI in Galeries Lafayette’s flagship Paris store, targets Olympics 2024 boost

The Unified Payments Interface (UPI) has reached the heart of Paris, as the flagship store of Galeries Lafayette on Haussmann Boulevard started accepting UPI payments, ANI reported.

This landmark move is a step further in realising Prime Minister Narendra Modi's vision of globalising UPI, an instant payment system developed by the National Payments Corporation of India (NPCI) in 2016.

"On July 3, 2024, the Unified Payments Interface (UPI) became live at the flagship store of the world-renowned Galeries Lafayette in Haussmann, Paris. This expands the acceptance of UPI in Paris after a successful launch at the iconic Eiffel Tower," according to an Indian Embassy statement quoted by ANI.

Monaco Jawed Ashraf, Indian Ambassador to France and Principality of Monaco, launched UPI by using it live at the store in the presence of Nicolas Houze, CEO of Galeries Lafayette, and Alain Lacour, Chairman of Lyra Group.

Ashraf welcomed the quick conclusion of the agreement and arrangement between Lyra and NPCI for introducing UPI at the world-famous Galeries Lafayette ahead of the Paris Olympics starting July 26. He recalled the success of UPI launched at the Eiffel Tower in January 2024 and the meeting hosted for potential merchants with NPCI International in February 2024. The introduction of UPI at Galeries Lafayette is expected to draw hordes of Indian visitors.

"Ambassador recalled the first international launch of UPI in Singapore in 2018.. and expressed satisfaction at the international journey of UPI," ANI reported.

He hoped that UPI would grow as a medium of cross-border remittances and eventually become the digital payment system in countries across the world.

As Paris gears up for the 2024 Olympics, the introduction of UPI will facilitate seamless transactions for a growing number of Indian visitors and display UPI's evolving role as a global digital payment solution.