BRICS Pay spotlights cross-border local-currency payments—not a new BRICS currency
Ahead of the Delhi BRICS summit, attention is shifting to payment-rail interoperability between systems such as UPI, Pix, CIPS and SPFS. For retailers, the relevant signal is easier local-currency settlement and payment acceptance across member markets, rather than the launch of a common currency.
What happened
BRICS Pay is set for rollout at the Delhi summit, linking India’s UPI with Chinese, Brazilian and Russian payment rails to enable local-currency trade
Key facts
- 90%
- 89.2%
- 2025
- 2022
Why this matters
Prioritize partnership or acquisition targets with multi-rail connectivity, local acquiring licenses and cross-border settlement capabilities in major BRICS consumer markets.