BRICS will create a payment unified system in order to facilitate business between themselves.



According to an essay of the Russian Journal Izvêstia, the countries which compose the BRICS Group (Brazil, Russia, India, China and South Africa) will launch a payment unified system, the BRICS Pay, that will allow every kind of procurement between themselves.


The countries intent to create a special online wallet that matches the payment systems of each country of the group. It will look like the Samsung Pay and Apple Pay systems, for example.


Therefore, the first model will be launched on April in South Africa in an innovative way since the commerce will be able to happen even the buyer’s currency is different of the seller’s one.


Know more in https://br.rbth.com/economia/81962-sistema-unificado-pagamento-brics