BRICS Pay, a non-cash payment system using QR codes for foreigners, may become operational in Russia by the end of this year. This was stated by Andrey Mikhailishin, head of the BRICS Payments and Fintech target subgroup of the Russian part of the BRICS Business Council Financial Services working group. RBC.
BRICS Pay is planned to allow foreigners to pay with Visa and MasterCard cards in Russia. In the future, a similar function may be extended to “World” cards outside the Russian Federation.
During the BRICS Business Council meeting, participants were invited to try the system. To do this, they can register between October 17 and 18 and receive 500 “bonus” rubles that can be used towards any purchase at the World Trade Center.
President of the Federation Council of the Russian Federation Valentina Matvienko in August acceptedHe said the decision to create an independent BRICS payment system could be made as early as October. According to him, the relevant process is currently actively ongoing.
October 11, head of the Ministry of Finance of the Russian Federation Anton Siluanov statedIt was stated that a report on the creation of the BRICS payment system will be presented at the summit in Kazan.
Putin before said Regarding the preparation of an independent payment circuit with the BRICS countries.