Published 12:07 IST, January 27th 2024
Won't Forget Chai Paid with UPI: Macron Finds Himself in Awe About India’s Digital Payment System
The global interest in UPI extends beyond France, with Japan and numerous other countries considering adoption of India;s digital payment method
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New Delhi: India's Unified Payments Interface (UPI) has been drawing attention from foreign leers, with French President Emmanuel Macron now expressing miration for technology during his recent visit. Macron was in awe of UPI when Prime Minister Narendra Modi paid for ir tea using digital payment method during a visit to a tea shop near Hawa Mahal in Jaipur.
In his speech at official banquet hosted by President Droupi Murmu, Macron recalled experience, saying, “I wouldn’t forget chai we shared toger because this was a chai paid with UPI… this is innovation.” He also noted how Modi's payment confirmation appeared on shop owner's phone, showcasing efficiency of UPI system.
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Furr during banquet, Macron expressed his honour to be part of India's Republic Day function and underlined just how strong relationship between India and France is. He highlighted warmth of ir meetings, describing m as friends meeting again with freshness of new discovery.“such an important day” (India’s Republic Day function) and said India and France h a strong relationship. “We don’t seem to be able to stay apart. Our meetings have warmth of friends meeting again, without losing freshness of new discovery. You were in July in France and I am here in Delhi today,” Macron said.
France & World Wants UPI
France has shown a keen interest in opting UPI from India. In July, during Modi's visit to France, it was announced that UPI would be used as a payment mechanism starting from Eiffel Tower, allowing Indian tourists in France to make payments in rupees. National Payments Corporation of India (NCPI) international arm also signed a memorandum of understanding (MoU) with France’s Lyra Network to accept UPI and RuPay.
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appeal of UPI is not limited to France. Japan has expressed interest after a visit by Japanese Digital Minister Kona Taro, who witnessed widespre use of UPI during his time in India. Following his return, Japan initiated discussions at a high-level meeting regarding option of UPI system. According to a top government official, "35-40 countries" are now considering opting UPI, with active engagement from India. Last year, Japan publicly stated its consideration of joining UPI system, joining or interested countries like Bhutan, Malaysia, UAE, Nepal, UK, Russia, Oman, Qatar, Australia, Thailand, Saudi Arabia, Singapore, Malaysia, Vietnam, Cambodia, South Korea, and Bahrain.
global interest in UPI reflects its success as a digital payment system, with various nations exploring its option to enhance ir own financial infrastructure. simplicity and effectiveness of UPI have left a lasting impression on leers worldwide, turning it into a symbol of India's technological innovation in realm of digital payments.
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12:07 IST, January 27th 2024