Eurobank is the first bank in Europe to activate a cross-border payment service from Greece to India via UPI
India’s Unified Payments Interface (UPI) has been launched in Greece, marking another milestone in the country’s push to globalise its flagship digital payments platform. The latest expansion takes UPI’s international footprint to 10 countries, enabling Indian travellers to make instant and seamless digital payments abroad using familiar UPI-enabled applications.
On the occasion of Minister Goyal’s visit to Greece, Eurobank hosted a live demonstration at Eurobank Headquarters, showcasing its cross-border payment service from Greece to India. “The demonstration highlighted the seamless integration of the Eurobank Mobile App with India’s Unified Payments Interface (UPI), enabling simple, secure, fast and efficient cross-border payments.” – according to the press release.
According to the International Monetary Fund (IMF) report “Growing Retail Digital Payments (The Value of Interoperability)” (June 2025), the Unified Payments Interface (UPI) is the world’s largest retail fast payment system (FPS) by transaction volume. Furthermore, according to the ACI Worldwide report “Prime Time for Real-Time 2024”, UPI accounts for approximately 49% of global real-time payment transaction volume.
Shri Piyush Goyal, Minister of Commerce and Industry of India, stated: “Through UPI, India has built the world’s largest real time payments ecosystem, proving that innovation at scale can drive inclusion, trust and economic growth. We are pleased to partner with Eurobank in extending this success to Greece and Europe, strengthening trade, investment and people to people ties through seamless cross border digital payments”.
Mr Fokion Karavias, CEO of Eurobank, noted: “Today’s presentation marks another milestone in our strategic partnership with India. Following the opening of our Representative Office in Mumbai, we are proud to showcase our collaboration with NPCI International to enable UPI transactions between India and Europe. Eurobank remains committed to strengthening trade, investment, and connectivity, further reinforcing the role of Greece and Cyprus as strategic gateways to Europe”.
Mr Sanjay Tugnait, President & CEO of Fairfax Digital Services, stated: “The world’s two oldest democratic traditions continue to shape the future: Greece gave the world democracy, while India is leading the way in digital democracy through UPI. Together with NPCI International, Eurobank is bringing this innovation to Europe, enabling faster and safer remittances. This partnership reinforces Greece’s role as a natural gateway for India’s growing engagement with Europe, particularly as India and the EU move towards what has been described as the “Mother of All Trade Deals.”.
Eurobank is the first bank in Europe to activate a cross-border payment service from Greece to India via UPI, as well as the first Greek and Cypriot bank with a physical presence in the Indian market.
