Indian tourists can now purchase tickets for the iconic Eiffel Tower and pay via Unified Payments Interface (UPI), said NPCI International Payments Limited (NIPL). It partnered with Lyra Network, a French leader in securing e-commerce and proximity payments, to launch a UPI payment mechanism in France, starting with the Eiffel Tower.
How to book Eiffel Tower tickets through UPI?
To book tickets, Indian tourists can use their UPI apps to scan the QR code generated on the merchant’s website and initiate a payment. “While the Eiffel Tower is the first merchant to offer UPI payments in France, this service will soon be extended to other merchants in the tourism and retail space. This will make it significantly easier for touring Indians to remotely book hotels, museum visits, etc. for their stay in France,” NPCI International said in a release on February 2, 2024.
“This announcement is of particular significance considering that Indian tourists rank as the second largest group of international visitors to the Eiffel Tower,” it added.
“At NIPL, our ambition is to enable acceptance of NPCI’s payment solutions in international markets and create a truly interoperable global payment system. We aim at actively collaborating with financial institutions worldwide to establish partnerships and provide consumers with convenient and secure cross-border payment solutions,” said Ritesh Shukla, CEO of NIPL.
UPI in France: How it will bolster cross-border transactions
Further, the acceptance of UPI in France opens up more opportunities for merchants across France and Europe operating in the tourism and retail sectors, NPCI International mentioned. “UPI integration in France is a transformative milestone, revolutionising payment methods for businesses and individuals. It accelerates UPI adoption among French merchants, ensuring secure, interoperable cross-border transactions,” Lyra Network mentioned in a release on February 3, 2024.
Speaking about the plans of Lyra Network with UPI, Rajesh Desai, CEO and MD, of Lyra Network, said, “UPI’s introduction is a strategic move, fostering economic collaboration between India and France. In 2024, Lyra Network aims to enter the global UPI arena, emphasizing POS and Switch solutions and collaborating with fintech, banks, government projects, and merchants while expanding our customer base”.
In 2023, UPI accounted for 40% of global real-time payments. “Year-on-year, UPI witnessed a 59.2% growth in volume to Rs 9.33 billion and a 45.5% increase in value to Rs 14,75,464 crore by June. As of January 31, 2024, UPI transactions in value surged to Rs 18.41 lakh crore, as reported by the National Payment Corporation of India (NPCI). In terms of volume, transactions rose to 1,220.301 crore on January 31, up from 1202.023 crore in December,” according a released shared by Lyra Network.