EconomyWhat is BRICS Pay, and can it rival the West’s SWIFT payments system?
BRICS Pay is a decentralised digital payment system designed to enable international transactions in local currencies rather than the dollar. BRICS leaders backed investment in cross-border payment systems at their New Delhi summit, but the project remains in pilot and phased rollout stages and is not yet globally operational for all members. It would connect national systems and support settlement through QR codes, digital wallets and mobile apps.
AAl Jazeera★★★★☆2026-09-16 12:53Original
What is BRICS Pay, and can it rival the West’s SWIFT payments system?
Economy