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Wire · technology

BRICS Pay to enable local-currency payments; India-Russia to sign MoU on UPI-Faster ...

10 September 2026 · By · Wire by Fusion42

Published

10 September 2026

Topic

technology

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at aninews.in →

◆ Verified

Fusion42 · 10 September 2026 · Fusion42 review

BRICS Pay is developing a cross-border payment system that connects national payment networks of BRICS countries, enabling local currency payments for travellers and businesses, with India and Russia set to link UPI and Faster Payment Systems through an MoU.

This Wire brief sits within Fusion42's coverage of Fintech, and 2 sources have reported it between 7 Sep 2026 and 10 Sep 2026.

◆ ◆ The Wire takeaway

You now have a clear route to enable near-instant local currency payments between India and Russia using their national payment systems. This opens a door to new customers and lower transaction friction in cross-border trade and travel.

◆ Coverage

2 sources · first reported 7 Sep 2026 · latest 10 Sep 2026

◆ Related on Wire

◆ Topics

Fintechbrics-payupirussia-indiacross-border-paymentslocal-currencydigital-payments