BRICS Pay opens platform to more countries and eyes decentralised payment network

Source: ANI (Asian News International) | Original Published At: 2026-09-12 11:27:58 UTC

Key Points

• BRICS Pay is seeking to expand its cross-border payment network to more countries, its CEO Andrey Mikhaylishin said.
• The platform has already signed memorandums of understanding with companies in China, Belarus and Turkey.
• A trilateral agreement involving a BRICS Pay company from Russia, the Russian Direct Investment Fund and BRICS Pay India has been reported.
• The India-Russia agreement focuses on connecting India's UPI with Russian payment infrastructure, including technical capabilities, legislation and citizen services.
• BRICS Pay is being developed as an open, decentralised payment ecosystem that can link national payment systems.
• The platform aims to support B2B settlements and payments for tourists travelling between participating countries.
• BRICS Pay said it should not be viewed as a mechanism to replace the dollar, as users can still choose dollar-based payments.