The global reach of India's Unified Payments Interface (UPI) has expanded further with Eurobank launching a UPI-based remittance service for cross-border money transfers from Greece to India. The initiative marks a significant step in strengthening digital financial connectivity between the two countries and is part of Eurobank's strategic collaboration with the National Payments Corporation of India (NPCI) International Payments Limited.
Announcing the development, Union Commerce and Industry Minister Piyush Goyal described the launch as another major milestone in the international expansion of India's digital payment ecosystem. He said the introduction of UPI services at Eurobank will enable eligible customers in Greece to transfer money to India instantly, securely, and seamlessly. The new system is also expected to significantly reduce transaction costs, bringing them down to a fraction of what is typically charged through conventional cross-border remittance channels.
Highlighting the growing global recognition of India's digital payment infrastructure, Mr. Goyal said the increasing acceptance and appreciation of UPI reflects the confidence in Prime Minister Narendra Modi's vision of creating technology-driven solutions that deliver value beyond national borders. He noted that the expansion of UPI is not only making financial transactions more efficient but is also helping deepen international partnerships built on shared growth and prosperity.
During his visit to Greece, Mr. Goyal also met Eurobank Chief Executive Officer Fokion Karavias to discuss ways to further strengthen economic cooperation between India and Greece. The two leaders explored opportunities to expand bilateral business engagement and encouraged greater participation of Greek companies in India's fast-growing economy.
Their discussions also focused on identifying new avenues for collaboration in manufacturing and infrastructure development in Greece, with both sides expressing interest in enhancing investment and commercial ties. The meeting underscored the shared commitment of India and Greece to fostering stronger economic partnerships through innovation, technology, and strategic cooperation.
The launch of UPI-enabled remittance services by Eurobank is expected to benefit the Indian diaspora in Greece as well as businesses engaged in cross-border transactions. It further reinforces India's emergence as a global leader in digital payments and highlights the country's efforts to make fast, affordable, and secure financial services accessible across international markets.
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