‘BRICS Pay can connect national payment infrastructures’: CEO clarifies on de-dollarisation

BRICS Pay is looking to expand its cross-border payment network to more countries, with MOUs already signed with companies in China, Belarus and Turkey. BRICS Pay CEO Andrey Mikhaylishin told ANI that the platform is being developed as an open payment ecosystem that can connect national payment infrastructure. He said BRICS Pay is ready to share its source code and technology with countries seeking to join the network. An India-Russia agreement is also focused on connecting India’s UPI with Russian payment infrastructure. Mikhaylishin stressed that BRICS Pay is not designed to replace the US dollar.