BRICS Pay
for 
Retail Payments

VISA and Mastercard does not work in all BRICS countries

More than half of the world's population cannot afford to get a card. ​It's too expensive.

National payment cards does not work in BRICS+ countries

Developing payment infrastructures requires significant investment of time and resources.
Or it's need to make a new issue of co-badged cards.

National fast payment systems does not work in BRICS+ countries

Despite the fact that they seem to be the future, they are even less widespread than national payment cards.

See the video howBRICS Pay will work

BRICS Pay 
makes bridges

BRICS Pay for Retail Payments (BRICS Pay QR) is being developed as a system of bridges and payment gateways between existing international, national, and commercial payment systems. The goal of BRICS Pay is to provide seamless, reliable, and secure payments using QR codes in any country within the BRICS+ framework.  BRICS Pay aims to integrate with existing national payment systems and offer online wallets accessible through mobile applications, enabling users to make payments in their national currencies using smartphones. BRICS Pay is not directed against any payment systems, the focus is on cooperation and methods of diversifying payments, as well as providing cashless payment services around the world and especially for the poorest countries.

BRICS Pay Demonstration in Moscow

On October 17 and 18, 2024, at the BRICS Business Forum in Moscow, participants were able to test the system in real conditions. Each registered participant was given a promo card with a one-time QR code to top up their wallet in the BRICS Pay application and then pay at points of sale in the World Trade Center (WTC) connected to the system. 

Over the two days of the forum, more than 5,000 people registered in the application, many of whom used it to make purchases at WTC outlets.

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BRICS Pay 
in BRICS Business Council

The work on international coordination and development of BRICS Pay is coordinated by the BRICS Payments and Fintech Working Group's Target Group under the BRICS Business Council. The initiative to create the New International Payment System (NIPS) was proclaimed in 2018 in Durban during South Africa's chairmanship at the BRICS Business Council meeting. NIPS was highlighted as a key priority in South Africa's annual report for 2018. In 2019, a Russian initiative group developed the concept, name, and logo for BRICS Pay.From 2019 to 2023, architectural and technological development of the project was conducted, exploring and testing various technological solutions, including blockchain and cryptocurrency technologies. In 2024, the fundamental principles of BRICS Pay were agreed upon, and the project received approval from all national chapters of the Financial Services Working Group of the BRICS Business Council, as reflected in the Annual Report of the BRICS Business Council 2025.

BRICS BC Annual Report 2025