Indian Economy News

Eurobank launches UPI-based remittance service for cross-border transfers from Greece to India

India’s digital payments ecosystem has taken another significant step towards global expansion with the launch of a UPI-based remittance service by Eurobank for cross-border money transfers from Greece to India. Introduced in collaboration with National Payments Corporation of India (NPCI) International Payments Limited, the service allows eligible customers in Greece to send money instantly, securely and seamlessly to India using the Unified Payments Interface (UPI). The initiative is expected to substantially reduce remittance costs compared to conventional transfer channels while improving transaction speed and convenience. The rollout further strengthens UPI’s growing international presence and reinforces India’s position as a global leader in digital public infrastructure and fintech innovation.

Commerce and Industry Minister Mr. Piyush Goyal, who inaugurated the service during his visit to Greece, described the launch as another important milestone in the internationalisation of India’s digital payment ecosystem. The statement further emphasised that the increasing global adoption of UPI reflects confidence in India’s technology-driven digital infrastructure and its ability to deliver efficient, scalable and inclusive payment solutions beyond national borders. During the visit, Commerce and Industry Minister Mr. Piyush Goyal also met Eurobank Chief Executive Officer Mr. Fokion Karavias to discuss expanding the India-Greece economic partnership. The discussions focused on encouraging greater Greek investment in India while exploring opportunities for collaboration in manufacturing and infrastructure development in Greece. The initiative is expected to strengthen bilateral economic ties, facilitate smoother financial transactions for the Indian diaspora and businesses, and advance shared objectives of innovation, investment and sustainable economic growth. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.