German Minister Gets Fascinated by the UPI System of India
Image Source: ANI
Volker Wissing, the Minister in the German Embassy, is fascinated by the UPI online payment system of India. Mr. Volker Wissing visited Bangalore regarding the G20 summit, and there he got a chance to try his hands on an online payment system while purchasing vegetables.
In the meeting of G20, the hosts Volker Wissing and Ashwini Vaishnaw had an insightful discussion on deepening Indo-German cooperation in IT and especially AI through our Digital Dialogue. His first experience of using online payment left him shocked and dazzled; he was impressed with the simplicity and the user-friendly interface of the application and the instant payment procedure.
The German Embassy took X to express his opinion on the application and wrote, “One of India’s success stories 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 firsthand and is very fascinated!” The NPCI (National Payments Corporation of India) was launched in 2016.
The UPI now witnesses around 9 billion transactions in a month, and the attractive feature is that it allows multiple bank accounts to get linked with a single application. The UPI was launched to make India a cashless country and to promote online payment. People got used to online transactions during the demonetization of 2016 and COVID times when social distancing was preferred.
Talking about international relations so far, Sri Lanka, UAE, and Singapore. India and Singapore signed a record-breaking agreement in February 2023 to link their respective payment accounts. France has also grabbed the opportunity to link the payment mechanism with India to enable the use of UPI transactions, starting with the most iconic destination, the Eiffel Tower.
-Varuni Gupta
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