Veytics Intelligence
2026-09-16 · Aljazeera

What is BRICS Pay, and can it rival the West’s SWIFT payments system?

The central theme of the BRICS bloc of nations is to push back against the global economic dominance of Western countries. That core value was very much at the centre of this year’s 18th BRICS Summit , which took place last week in India. At the September 12 and 13 summit in New Delhi, leaders committed to expanding local currency trading systems and cross-border payment systems by investing in BRICS Pay, an initiative of the BRICS Business Council.

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