https://sputniknews.in/20240130/russia-discussing-integration-of-payment-infrastructure-with-brics-6383142.html
Russia Discussing Integration of Payment Infrastructure With BRICS
Russia Discussing Integration of Payment Infrastructure With BRICS
Sputnik India
Russia is discussing with BRICS countries the integration of national financial messaging systems as an alternative to SWIFT, with 159 foreign participants... 30.01.2024, Sputnik India
2024-01-30T13:55+0530
2024-01-30T13:55+0530
2024-01-30T13:55+0530
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unified payments interface (upi)
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A total of 159 foreign participants from 20 countries have already joined the Russian system, the official added.The Bank of Russia's Financial Transmission Messaging System (FTMS) was created in response to the risks of possible disconnection of Russian banks from SWIFT. This is an international interbank system through which information and payments can be transferred. It involves more than 11,000 major organisations from almost all countries of the world.
https://sputniknews.in/20240123/russia-will-do-its-best-to-ensure-egypts-integration-into-brics-putin-says-6307467.html
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russia, brics, india, unified payments interface (upi), china, economics, rising economies, global economy
russia, brics, india, unified payments interface (upi), china, economics, rising economies, global economy
Russia Discussing Integration of Payment Infrastructure With BRICS
Russia is discussing with BRICS countries the integration of national financial messaging systems as an alternative to SWIFT, with 159 foreign participants from 20 countries already joining the Russian system.
"Russia has a Financial Messaging System that is an alternative to SWIFT. Some other countries have similar infrastructure. We are discussing the interaction of such platforms, but the interest and technical readiness of our partners are important here," Elvira Nabiullina told Sputnik, commenting on whether the BRICS countries are ready to integrate national financial communication systems.
A total of 159 foreign participants from
20 countries have already joined the Russian system, the official added.
The Bank of Russia's Financial Transmission Messaging System (FTMS) was created in response to the risks of possible disconnection of Russian banks from SWIFT. This is an international interbank system through which information and payments can be transferred. It involves more than 11,000 major organisations from almost all countries of the world.
