The BRICS Pay system for foreigners may be launched in Russia by the end of the year

A new payment system is planned for launch in Russia by the end of 2025, allowing foreign tourists to make cashless payments via QR code. Designed for the convenience of visitors to the country, the service will be scaled up as demand grows.

According to business community representatives, the new platform will enable foreigners to pay using their regular international payment system cards. In the future, they will also be able to use alternative solutions, such as Chinese digital wallets. The BRICS Pay app is expected to be available soon in popular app stores, but for now it can be installed manually via a web browser. Users will connect to the service via their phone number and then link a bank card.

1.    Testing the BRICS Pay system

• The system is already being tested. Participants in a specialised forum were invited to try out the demo version by making real purchases with bonus funds at the shopping centre where the event is taking place.
• The technical implementation integrates with cash register equipment and POS terminals via QR codes, similar to existing solutions.
• Two options for interaction are being discussed: generating a code through a terminal, or integrating the system directly into cash register software. This should ensure maximum convenience for users and businesses alike.

2.    Availability of BRICS Pay in Russia:

The service will be available in more than just the capital. The main focus will be on tourist and business destinations — the cities that are most frequently visited by foreigners. Citizens of any country with cards in various currencies, including national and international ones, will be able to use the platform.

Next year, the system may also become available to Russian citizens, primarily in tourist destinations. Initially, the service will be available in Turkey, Egypt, Sri Lanka and the Maldives. There is also a possibility that migrant workers will be able to use the service to transfer funds to cards accessible to their families in their home countries.

Experts believe that the system has the potential for large-scale implementation. Russian banks already have the necessary infrastructure, and interest in new forms of payment is growing amid changes in the global financial landscape. However, implementation could be hindered by foreign policy risks, given that the topic of alternative international payments is attracting increased attention from countries pursuing sanctions policies.

3.         The strategic role of BRICS Pay in achieving financial independence

The situation with international payments in Russia remains limited following the suspension of international payment systems in the country. Using cash abroad is still the main alternative for Russians. Solutions such as BRICS Pay are being developed to change this situation.

The development of such initiatives is also facilitated by work on creating an alternative financial infrastructure. Measures under consideration include simplifying cross-border transfers between national banks, settling in local currencies, integrating digital currencies and forming a unified depository system for countries interested in independent financial policy. According to experts, these steps could significantly reduce the cost of cross-border transactions and stimulate economic growth.

The new payment system forms part of a broader strategy to strengthen financial independence and simplify settlements between countries seeking to reduce their reliance on traditional international financial instruments.