UPI Goes Live in Greece, Slashing Cross-Border Transfer Costs

India's Unified Payments Interface (UPI) has now expanded to Greece, enabling eligible customers to transfer money at transaction costs significantly lower than conventional international transfers, Union Commerce Minister Piyush Goyal said.

Taking to X, Goyal said he witnessed a live demonstration of the Eurobank-NPCI International Payments Ltd (NIPL) partnership enabling UPI services at Eurobank headquarters in Athens.

He added that the development marks another milestone in the global expansion of India's digital payments ecosystem.

Goyal further highlighted that as UPI is now live in Greece, eligible customers can now send money instantly, securely, and seamlessly, at transaction costs that are significantly lower than conventional cross-border transfer charges.

How is UPI strengthening India’s Digital Public Infrastructure (DPI) partnerships worldwide?

"With UPI now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reducing drastically to a fraction of conventional transfer costs," he added.

Goyal lauded PM Narendra Modi for the increasing global acceptance of UPI. He further added that the rising adoption and appreciation of UPI reflects PM Modi's vision of creating a technology-led solutions that create value beyond borders and deepen partnerships for shared growth and prosperity.

"The increasing global acceptance and appreciation of UPI reflects the trust in PM @NarendraModi ji's vision of building technology-led solutions that create value beyond borders and deepen partnerships for shared growth and prosperity," he added.

Earlier this year, the Indian government signed MoU with 23 countries for the cooperation on India Stack / Digital Public Infrastructure (DPI).

Further, UPI had been live in over eight countries, including -- UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar.

"MoUs have been signed with Cuba, Kenya, United Arab Emirates and Lao People's Democratic Republic (LPDR) for Digilocker," as per a statement by Ministry of electronics & IT.

(With inputs from ANI)