Highlights:
• National Payments Corporation of India International signed an MoU with France’s Lyra Network
• This will enable Indians to pay using UPI and Rupay cards in France
• UPI is already accepted in UAE, Singapore and Bhutan
Union communications and electronics and information technology minister Ashwini Vaishnaw has announced that UPI and Rupay cards will soon be accepted in France, providing yet another boost to the Unified Payments Interface (UPI) and Rupay.
NPCI International has signed MoU with Lyra Network
According to a report, The National Payments Corporation of India International (NPCI International), the international arm of National Payments Corporation of India (NPCI) has signed a memorandum of understanding (MoU) with Lyra Network, a French payment solutions company.
Indians can pay using UPI and Rupay cards
As part of MoU, Lyra Networks will allow Indians to pay using UPI and Rupay cards at terminals and machines offered by Lyra Networks, making it easier especially for students and tourists from India to make payments.
This comes just two months after NPCI International announced a partnership with NeoPay, a payments subsidiary of Mashreq Bank in the UAE, to allow Indians in the UAE to make payments using UPI on the company’s terminals throughout the country.
“An MoU has been signed b/w NPCI, International and Lyra Network of France for ‘Acceptance of UPI & Rupay Card in France. India is doing 5.5 billion UPI transactions in a month. Today’s MoU with France is a big achievement for us,” said union minister Ashwini Vaishnaw.
Boost Rupay
This will also boost Rupay, which recently received a shot in the arm after the country’s central bank announced that Rupay credit cards will soon be linked to the UPI network, allowing users to make payments with their Rupay credit card by using UPI apps.
Indians can already use UPI in countries like Bhutan and Singapore. NPCI International is also in talks to enable UPI payments in Nepal.
