August 20th 2023.
The German Embassy in India has shown its admiration for India's digital infrastructure, calling it one of the country's success stories. The high praise for India's digital payment model came after Germany's Federal Minister for Digital and Transport, Volker Wissing, used Unified Payments Interface (UPI) to make a payment in India and was "very fascinated" by the experience.
The Embassy shared a video of the experience on X, wherein Wissing can be seen using UPI to make a payment to a vegetable seller. The Embassy stated, "One of India’s success story is digital infrastructure. UPI enables everybody to make transactions in seconds. Millions of Indians use it. Federal Minister for Digital and Transport @Wissing was able to experience the simplicity of UPI payments first hand and is very fascinated!"
Before the experience, Wissing attended the G20 Digital Ministers Meeting in Bengaluru on August 19. On the same day, Wissing had a discussion with host Minister @AshwiniVaishnaw on deepening Indo-German cooperation in IT and AI through Digital Dialogue.
UPI is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address created by the customer. India has partnered with other countries such as Sri Lanka, France, UAE, and Singapore on emerging fintech and payment solutions.
Prime Minister Narendra Modi recently announced that India and France have agreed to use Unified Payments Interface payment mechanism. Addressing the Indian community in Paris, PM Modi said, "Be it India's UPI or other digital platforms, they have brought a huge social transformation in the country and I am happy that India and France are also working together in this direction. India and France have agreed to use UPI in France. I will leave after the agreement. However, it is your job to move forward."
The agreement between India and France now allows for UPI-based payments to be accepted in Sri Lanka. This is yet another example of the success of India's digital infrastructure, and is proof of the progress that the country has made in terms of technology and digital payment systems.
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