India’s digital payments network has expanded its global footprint with the launch of a UPI-Based Remittance Service in Greece. The service has been introduced by Eurobank in collaboration with NPCI International Payments Limited (NIPL), enabling eligible customers in Greece to send money directly to India through a faster, more secure and cost-effective digital platform.
The launch marks another significant milestone in the international expansion of the Unified Payments Interface (UPI), which has emerged as one of the world’s fastest-growing digital payment systems. The new facility is expected to simplify cross-border remittances for individuals and businesses while reducing the costs associated with traditional money transfer channels.
Commerce and Industry Minister Piyush Goyal welcomed the development and described it as an important step in strengthening India’s digital payment ecosystem on the global stage. He noted that the service will allow customers to transfer funds instantly and securely while significantly lowering transaction costs compared to conventional remittance methods.
UPI-Based Remittance Service Strengthens India’s Global Digital Payments Network
The growing international adoption of UPI reflects India’s efforts to promote technology-driven financial solutions beyond its borders. Over the past few years, UPI has gained recognition for its speed, reliability and ease of use, handling billions of transactions every month within India.
UPI was launched in India in 2016 as a real-time payment system that allows users to transfer money instantly between bank accounts through mobile applications. Developed to promote digital transactions and financial inclusion, the platform has transformed everyday payments by enabling secure, round-the-clock transfers using smartphones, QR codes and virtual payment addresses. Today, UPI processes billions of transactions each month and has become a key pillar of India’s digital economy.
Several countries have already partnered with India to explore UPI integration for payments and remittances. The expansion into Greece adds another European destination to the network and is expected to benefit members of the Indian diaspora, students, professionals and businesses engaged in economic activities between the two countries.
Industry experts believe that lower remittance costs and real-time settlement capabilities can encourage greater financial connectivity between nations. Digital payment infrastructure is increasingly being viewed as an important pillar of economic cooperation and trade facilitation.
Piyush Goyal Discusses Investment and Economic Cooperation
During his visit to Greece, Piyush Goyal also met Eurobank Chief Executive Officer Fokion Karavias to discuss opportunities for expanding economic collaboration between the two countries. The discussions focused on strengthening trade ties, attracting investments and encouraging greater participation of Greek businesses in India’s growth story.
The meeting also explored avenues for cooperation in manufacturing, infrastructure development and other strategic sectors. Both sides highlighted the importance of creating stronger business linkages and leveraging emerging opportunities in rapidly growing industries.
India and Greece have witnessed increasing engagement in recent years across sectors such as shipping, logistics, renewable energy, technology and infrastructure. The strengthening of financial connectivity through the UPI-Based Remittance Service is expected to complement these broader economic initiatives.
The launch comes at a time when digital financial services are becoming a key component of international economic partnerships. Governments and financial institutions worldwide are investing in technologies that improve payment efficiency, reduce transaction costs and enhance customer convenience.
The introduction of the service in Greece also aligns with India’s broader vision of exporting successful digital public infrastructure models to partner nations. Indian digital platforms have increasingly attracted global attention for their scalability, accessibility and ability to support financial inclusion.
As India continues to expand the international reach of UPI, the latest development is expected to deepen financial integration between India and Greece while creating new opportunities for trade, investment and people-to-people connectivity. The successful rollout of the UPI-Based Remittance Service further reinforces India’s position as a leading innovator in the global digital payments landscape.
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