India, Spain to Accelerate UPI–Bizum Payment Integration Talks

India and Spain have agreed to fast-track technical discussions on integrating India’s Unified Payments Interface (UPI) with Spain’s Bizum digital payments platform, marking another significant step in expanding the global reach of India’s digital payments ecosystem.

The decision was taken during Union Commerce and Industry Minister Piyush Goyal’s recent visit to Spain, where both countries explored ways to strengthen economic cooperation, increase investment flows and facilitate greater mobility of skilled professionals.

According to the Ministry of Commerce and Industry, the proposed interoperability between UPI and Bizum is expected to simplify cross-border digital transactions for businesses, tourists and consumers, while strengthening financial connectivity between the two countries.

Beyond digital payments, India and Spain identified new opportunities for collaboration across key sectors, including automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure.

As part of his wider Europe visit, Shri Goyal also held discussions in Brussels aimed at advancing India–European Union economic ties. He raised the issue of recognising additional Indian ship recycling yards and proposed launching an India–EU dialogue on skills, education and talent mobility.

The discussions also covered progress on the Investment Protection Agreement, Geographical Indications Agreement, cooperation under the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, duty concessions for Basmati rice and issues related to steel scrap trade.

During his visit to Finland, the minister met the leadership of KONE and Nokia, encouraging both companies to expand their manufacturing, research and development, exports and digital infrastructure investments in India.