BRICS tasks payment group with advancing cross-border payment solutions

September 13, 2026 at 11:00 AM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

BRICS leaders instructed the bloc's Payment Working Group to continue developing practical cross-border payment solutions, according to the New Delhi Declaration adopted at the 18th BRICS summit. The declaration emphasizes that such payments must be fast, inexpensive, accessible, efficient, transparent, and secure.

Key Facts

The New Delhi Declaration was adopted at the 18th BRICS summit.
The BRICS Payment Working Group (BPTF) was tasked with continuing to seek practical solutions for cross-border payments.
The declaration states that cross-border payments must be fast, inexpensive, accessible, efficient, transparent, and secure.
The declaration notes that national priorities of member countries will be respected and that no single solution fits all.

Payment Working Group Mandate

The BRICS Payment Working Group (BPTF) was instructed to continue exploring effective cross-border payment mechanisms. The group's work builds on guidance from the Kazan and Rio de Janeiro declarations under the BRICS Cross-Border Payments Initiative. BRICS leaders acknowledged progress in studying the interaction of national payment and exchange systems among member countries. Discussions also covered facilitating trade and investment settlements in national currencies.

Declaration Principles

The New Delhi Declaration emphasizes that national priorities of member countries will be respected. It states that no single solution suitable for all exists. BRICS called on the Payment Working Group to continue work based on achieved results to develop practical solutions meeting the criteria of speed, low cost, accessibility, efficiency, transparency, and security.