Athens, Greece, July 2026: Eurobank UPI remittance services have officially been launched, making Eurobank the first bank in Europe to enable Unified Payments Interface (UPI)-based cross-border money transfers from Greece to India. The initiative has been introduced through a strategic collaboration with NPCI International Payments Limited (NIPL), the international subsidiary of the National Payments Corporation of India (NPCI).
The new service is expected to simplify international remittances while strengthening digital payment connectivity between Europe and India.
Eurobank UPI Remittance Goes Live
The Eurobank UPI remittance platform was demonstrated during the visit of Piyush Goyal, India’s Minister of Commerce and Industry, to Greece.
A live demonstration at Eurobank’s headquarters in Athens showcased the seamless integration between the Eurobank Mobile App and India’s Unified Payments Interface (UPI), allowing customers to transfer funds quickly, securely, and efficiently.
The launch marks a significant milestone in the expansion of India’s digital payment ecosystem into Europe.
First European Bank to Offer UPI-Based Transfers
With the launch of Eurobank UPI remittance, Eurobank becomes the first European financial institution to activate UPI-enabled international money transfers to India.
The initiative is designed to improve payment efficiency for:
- Indian expatriates
- Students
- Business travellers
- Families sending money home
- Cross-border businesses
The service also supports faster and more convenient financial transactions between Greece, Cyprus, and India.
Partnership with NPCI International
The new payment solution has been developed in partnership with NPCI International Payments Limited (NIPL), which is responsible for expanding India’s digital payment infrastructure globally.
The collaboration aims to:
- Enhance cross-border payment connectivity
- Simplify international remittances
- Support digital financial inclusion
- Strengthen India-Europe economic cooperation
The partnership also reflects the increasing global adoption of India’s Digital Public Infrastructure.
UPI Continues Global Expansion
According to the International Monetary Fund (IMF), UPI has become the world’s largest retail fast payment system by transaction volume.
Separately, the ACI Worldwide Prime Time for Real-Time Payments 2024 report estimates that UPI accounts for nearly 49% of global real-time payment transactions, highlighting its growing international importance.
The Eurobank partnership represents another step in extending UPI’s reach beyond India.
Leaders Highlight Growing India-Europe Cooperation
Speaking during the launch, India’s Commerce and Industry Minister Piyush Goyal described India’s Digital Public Infrastructure as a model for inclusive innovation and economic growth.
Eurobank Chief Executive Officer Fokion Karavias said the initiative strengthens the bank’s strategic relationship with India and builds on its existing presence through its representative office in Mumbai.
Sanjay Tugnait, President and CEO of Fairfax Digital Services, noted that the partnership demonstrates how digital innovation can strengthen economic and commercial ties between India and Europe.
Supporting Trade and Investment
The Eurobank UPI remittance initiative is expected to facilitate growing trade, investment, tourism, and commercial activity between Europe and India.
Eurobank also highlighted its role as the first Greek and Cypriot bank with a physical presence in India, positioning the institution as an important financial bridge between the two regions.
The initiative also supports the broader vision of the India–Middle East–Europe Economic Corridor (IMEC) by improving financial connectivity across participating economies.
Key Highlights
- Eurobank launches UPI-based remittance service.
- First European bank to integrate with India’s UPI.
- Service enables money transfers from Greece to India.
- Developed with NPCI International Payments Limited.
- Supports faster, secure, and seamless cross-border payments.
- Strengthens India-Europe digital payment connectivity.
FAQ
What is the Eurobank UPI remittance service?
It enables customers to transfer money from Greece to India using India’s Unified Payments Interface (UPI).
Who developed the service?
The platform was developed through a partnership between Eurobank and NPCI International Payments Limited.
Why is this launch significant?
Eurobank is the first European bank to introduce UPI-enabled cross-border remittance services.
What are the benefits?
The service offers secure, fast, and convenient international money transfers while strengthening financial connectivity between Europe and India.
Conclusion
The launch of the Eurobank UPI remittance service represents an important milestone in the global expansion of India’s digital payment ecosystem. By becoming the first European bank to integrate with UPI, Eurobank is simplifying cross-border remittances while supporting stronger trade, investment, and people-to-people connections between Greece, Cyprus, and India.
The initiative also reinforces the growing role of digital financial infrastructure in strengthening international economic cooperation and advancing seamless global payment solutions.
