Lyra partners with India's NIPL for UPI payments

Monday 5 February 2024 10:35 CET | News

France-based payment solutions provider Lyra has partnered with India-based NPCI International Payments Limited (NIPL) to introduce the UPI payment mechanism in France.


According to the announcement, this payment solution allows Indian tourists to book their visit to
the Eiffel Tower by purchasing tickets online, making the transaction process quick and easy. 

With over 380 million users, UPI became one of the main instant payment solutions in India, in 2022 it represented 46% of global real-time payments. In December 2023 alone, it registered over 12 billion transactions, underlining its widespread adoption. Moreover, UPI was extended abroad in 2023, when the Indian government allowed non-resident Indians (NRIs) from ten countries to use UPI to send and receive money if their domestic bank accounts were linked to their phone numbers abroad. The list of countries included Singapore, Australia, Canada, Hong Kong, Oman, Qatar, the US, Saudi Arabia, the United Arab Emirates, and the UK. 

Lyra has partnered with India-based NPCI International Payments Limited (NIPL) to introduce the UPI payment mechanism in France.


An interoperable global payment system

As the official press release shows, the number of Indian visitors to the Eiffel Tower has been increasing, prompting India as a promising market for the French tourism market. Therefore, Indian tourist can now use their UPI-powered apps to securely make online transactions by scanning the QR code generated on the merchant's website and initiating a payment. On top of that, the acceptance of UPI in France also opens up numerous opportunities for merchants across France and Europe, especially those operating in the tourism and retail sectors. 

While the Eiffel Tower is the first merchant to offer online UPI payments in France, this service will soon be extended to other merchants in the tourism and retail space. Therefore, this will make it easier for touring Indians to remotely book hotels, museums, and other activities for their stay in France.

Commenting on the announcement, NIPL stated that this partnership aims to promote NPCI's payment acceptance in international markets and create an interoperable global payment system. The company plans to continue to collaborate with financial institutions worldwide to establish partnerships and provide consumers with more convenient and secure cross-border payment solutions. 

On the same note, Lyra said that the company has been present in India for 17 years, and this partnership confirms the strength of its collaboration with the Indian government and NIPL. In addition, for the players in the French and European tourism ecosystem, this partnership also represents the next step for expansion and new business opportunities to come.

NIPL, the international arm of NPCI, is dedicated to expanding the reach of NPCI's real-time payment system d – Unified Payments Interface (UPI) and card scheme – RuPay, beyond India's borders. Over time, NPCI has provided a series of products and technological capabilities in the Indian domestic market, while also providing other countries with technological assistance, licencing, and consulting to create real-time payment systems and infrastructure development.

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Keywords: partnership, UPI, online payments, mobile payments, online transaction
Categories: Payments & Commerce
Companies: Lyra, NPCI, UPI
Countries: France, India
This article is part of category

Payments & Commerce






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