Overview of BRICS Pay

BRICS Pay is introduced as a new concept aimed at facilitating currency exchange among BRICS nations, allowing users to transact in multiple currencies without the need for traditional dollars. Essentially, this service functions as a foreign exchange card, enabling users to pay in the local currency of any participating country. This approach aims to disintermediate banks, which have traditionally dominated the foreign exchange sector, minimizing the need for expensive currency conversion kiosks. The marketing strategy highlights its benefits, such as a free initial balance, to entice users and promote the service.