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BRICS Countries Navigate New Alternative Payment System for Stronger Cooperation

Summary by Global Times
This year is the first year following the expansion of BRICS, and the first post-expansion summit will be held in Kazan, Russia, from October 22 to 24. Concurrently with the summit, the new payment system BRICS Pay has drawn attention, highlighting the strengthening of economic and trade ties among BRICS countries.

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telesurtv.nettelesurtv.net
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One of the proposals discussed during the previous BRICS block summit last October 2024 in Kazan, Russia, was the possibility of creating a new alternative payment system to SWIFT, the main interbank payment network today. The interest was more strongly debated at the most recent XVII BRICS Summit in Rio de Janeiro, which took place on 5 and 6 July.

BRICS leaders propose to create an alternative payment system to Swift One of the proposals discussed during the previous BRICS block summit last October 2024 in Kazan, Russia, was the possibility of creating a new alternative payment system to SWIFT, the main interbank payment network today. The interest was discussed with more [...] The BRICS Leaders entry proposes at the Rio de Janeiro summit the creation of an alternative payment system to S…

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telesurtv.net broke the news in on Sunday, July 6, 2025.
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