UPI payments will soon be accepted in France

Upbeat with India being recognized as the "country of the year" at Europe's biggest start-up conference - Vivatech 2020, an Indian diplomat in France said that India's Unified Payments Interface (UPI) and Rupay cards will soon be accepted in France. In an exclusive interview with ANI, Jawed Ashraf, Indian Ambassador in France, said, "India has started the process in France by signing Memorandum of Understanding (MoU) between National Payments Corporation of India (NPCI), International and Lyra Network of France."

Ashraf said that when he was the Ambassador of Singapore, he tried to launch Bhim QR and Rupay cards in the city-state."We tried and successfully launched. Most of the merchandise are accepting UPI payments and Rupay cards. I strongly believe that we can do this in Europe also. We are trying to start UPI and Rupay cards soon in France. We will have to discuss this with the central bank, regulator, as well as companies here in France. In France, there is very less use of digital payment. But it needs to be integrated and seamless. It lacks efficiency as we have in India," said Ashraf.

He also shared his experience with the seamless and transparent mode of digital payment and how effective it could be in France.The Ambassador said that once he went to a doctor but didn't have the cash or cheque to pay.

"The doctor asked him to pay in cash or by cheque. He has to visit an ATM to withdraw the cash and pay the doctor. If UPI comes to France, then it will benefit the people of France. If we share the benefits of UPI with the people of France, then they will accept it. Regulators, banks, and companies will accept it. If we implement it in the Bank of France, then I think that we will also be able to push it for the European Union," Ashraf explained.

However, the Ambassador said, "We will have to start with France first. Some banks like BNP Paribas, Societe Generale, etc are having presence in India and they know the success story of UPI."As India is leading the digital technology world, Ashraf said that it has grabbed the issue of semiconductor shortage in the world."

India not only talked about the solution but also came with the products. If we talk about the Vande Bharat train which is made in India product, I am sure that we will see the Vande Bharat train in Europe within 5-6 years," said the Indian Ambassador to France.

Meanwhile, Europe's biggest start-up conference Viva Technology 2022 event has recognized India as the "country of the year."

The Ambassador said that both President Emmanuel Macron and Prime Minister Narendra Modi have made digital technology more broadly the central pillar of the strategic partnership in the 21st century.

Paul Hermelin, Chairman, Capgemini, said, "India might be better positioned in France, because Indian economics, Indian education, and young population keep playing a race with new technology."Roberto Balzaretti, Switzerland`s Ambassador to France, who visited the India Pavillion at Vivatech 2020, told ANI that India and Switzerland are going to bring together their intelligence.

"We have everywhere to build up to something together which makes sense. What I am seeing here at India Pavillion is fantastic. At the India Pavillion, I am seeing small drones that can carry vaccines in regions of the country. Indian startups are innovating technologies for the welfare of people. This is the only way that we can move forward, cooperate with a collaborative approach," said Balzaretti. 

The Swiss Ambassador said that India is a large country twice the size and more of Europe so it makes sense that there are more unicorns."That's one point, which is very good. The second point probably, it's good to have very fast-growing companies, but it must be for the benefit of everyone. If you have a relationship between unicorns and an environment that is favourable to developing new technologies for everyone, that's what we are looking for. India is a fantastic country and you have a fantastic population, a young population, and a fantastic idea of what you can do in the future. But you have to bring all that together. Competition is good, cooperation is even better," said Balzaretti.