BRICS payment-link talks could lower friction for cross-border retail trade
BRICS members are expected to discuss linking fast-payment systems and CBDCs for cheaper trade settlement. India, already linked with the UAE, is pursuing similar payment corridors with Russia, Saudi Arabia, Egypt and Ethiopia.
What happened
BRICS members are expected to discuss linking fast-payment systems and CBDCs to lower cross-border trade settlement costs. India, which already has a UAE
Key facts
- 11-member BRICS
- September 12-13
- August 12-13
- 100% tariffs
Why this matters
Retailers, fintechs and payment providers should evaluate partnerships with local fast-payment and CBDC infrastructure players as BRICS settlement links develop.
What to watch
- Formal BRICS communique committing to common messaging, QR, identity, FX-conversion or settlement standards.
- New India payment-link agreements with Saudi Arabia, Egypt, Ethiopia or Russia, including merchant acceptance and remittance scope.
- Reserve Bank of India, UAE, Saudi, Egyptian or other central-bank pilot results for cross-border CBDC settlement.
- Major PSPs, card networks, wallet providers or marketplaces announcing corridor-specific merchant products.
- Evidence of lower cross-border merchant discount rates, FX spreads, chargeback losses or supplier payout times.
- Sanctions changes, capital-control measures or AML enforcement actions that constrain Russia-linked or other corridor transactions.
- Prioritize payment-service providers and acquiring banks with India-UAE, Gulf, Russia and Africa corridor capabilities.
- Map supplier and marketplace exposure by settlement currency, FX cost, payment failure rate and payout cycle across BRICS-linked markets.
- Design checkout orchestration that can add local instant-payment methods, QR schemes and wallet rails without rebuilding core payment flows.
- Negotiate local-currency supplier terms and evaluate treasury structures for reduced USD dependency where liquidity and hedging are adequate.
- Build compliance controls for sanctions screening, source-of-funds checks, transaction monitoring and country-specific data requirements before enabling new corridors.