BRICS Pay is a decentralised digital payment platform developed within the framework of the BRICS Business Council to enable fast, secure and seamless cross-border transactions. It is built on the principles of interoperability, sovereignty and inclusion, connecting national and commercial payment systems across BRICS+ countries into a resilient alternative financial infrastructure for businesses and individuals.
The project is officially recognised in the BRICS Business Council Annual Report 2024.
What BRICS Pay is not
- Not a SWIFT replacement. It is a parallel financial-messaging channel (DCMS), not a substitute for the existing network.
- Not a competitor to Visa or Mastercard. In retail (C2B) it integrates with the global card networks as one of the payment channels.
- Not anti-dollar — pro de-domination. A balanced financial order: USD, EUR and national currencies are used fairly side by side.
- Not a sanctions-evasion tool. Full FATF/OFAC compliance, KYC/AML on every transaction.
- Not a centralised service under one owner. Governance is via a DAO Consortium — no single owner.
What BRICS Pay stands for
- Technology, not politics. Focus on innovation, security, efficiency.
- Sovereignty, not isolation. Each country keeps control of its financial infrastructure.
- Interoperability, not replacement. Integrates with existing systems, expanding their reach.
- Evolution, not revolution. Builds on top of current infrastructure with no disruptive overhaul.
- Collaboration, not domination. An open platform for financial institutions, fintechs and regulators worldwide.
Goals
To build a fair, polycentric and technologically advanced financial ecosystem:
- Direct settlement in national currencies — no double conversion through USD/EUR.
- Less reliance on third-party messaging systems.
- Financial sovereignty without isolation.
- Full AML, KYC and local-regulation compliance.
- Financial inclusion for SMEs and individuals.
- Transparency and resilience through blockchain-based DCMS infrastructure.
Mission
UN Sustainable Development Goals
BRICS Pay contributes to the UN SDGs:
SDG 1
No poverty
SDG 2
Zero hunger
SDG 8
Decent work and economic growth
SDG 9
Innovation and infrastructure
SDG 10
Reduced inequalities
Who builds the project
- BRICS Business Council — initiator since 2018.
- BRICS Pay Consortium — a DAO-style alliance of banks, fintechs, regulators and tech providers (see the Consortium page).
- NB PAY FZCO (Dubai, UAE) — developer of the BRICS Pay app published in Google Play.
- Saint Petersburg State University — author of the DCMS messaging core.
- New Development Bank — financial backbone (about USD 32B across 96 projects since 2016).