German minister fascinated with India's digital payment network
German Embassy in India on Sunday hailed 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.
In the pictures and video posted by Germany Embassy in India on X, Wissing can be seen using the UPI to make a payment to a vegetable seller.
On August 19, Wissing attended the G20 Digital Ministers Meeting in Bengaluru. On August 18, Wissing arrived in Bengaluru to participate in G20 Digital Ministers Meeting.
In another tweet on X, German Embassy in India stated, "G20 Digital Ministers meeting in Bangalore is about to start. Minister @Wissing & our great host Minister @AshwiniVaishnaw have an insightful discussion on deepening Indo-German cooperation in IT and especially AI through our Digital Dialogue."
Notably, the UPI is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer.
So far, Sri Lanka, France, UAE, and Singapore have partnered with India on emerging fintech and payment solutions. Earlier in July, Indian Prime Minister Narendra Modi announced that India and France have agreed to use UPI payment mechanism.
Addressing the Indian community in Paris during his recent France visit, 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 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. Friends, in the coming days its beginning will be made from Eiffel Tower which means that Indian tourists will now be able to make payments in Rupees, through UPI, at Eiffel Tower," added the PM.