- 3 weeks ago
- #bricspay
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🚨 EXCLUSIVE: First Interview with BRICS PAY Founder Andrey Mikhailishin reveals BRICS Pay truth about new financial system BRICS technology explained.
Get unprecedented access to BRICS Pay CEO interview with chairman Andrey Mikhailishin in this groundbreaking Think BRICS exclusive. Discover what BRICS Pay really is - not a SWIFT replacement or BRICS currency alternative, but an evolutionary BRICS payment system connecting existing infrastructures. Mikhailishin explains BRICS Pay explained as bridges between national payment systems like Russia's Fast Payment System, Brazil's PIX, China's UnionPay, and India's UPI.
Learn how BRICS digital payment technology works through two channels: C2B retail payments and B2B business transactions. The BRICS Pay Card prototype unveiled during Russia's presidency represents a new financial system BRICS approach to cross-border payments. This isn't BRICS vs SWIFT confrontation - it's collaborative Finance technology integration.
Discover BRICS Pay 2025 implementation challenges, including Western sanctions obstacles and regulatory compliance across BRICS+ member countries. Mikhailishin reveals current Russia deployment status and expansion plans to CIS, Middle East regions. The BRICS alternative to SWIFT operates as decentralized consortium, welcoming global participation beyond BRICS money transfer capabilities.
Understand the difference between BRICS Pay and BRICS Bridge (mBridge-style central bank digital currencies project). Get insider perspective on security measures, AML/KYC compliance, and why this represents evolution, not revolution in global Economy payments infrastructure.
This interview focuses on BRICS Pay fundamentals rather than technical blockchain specifications, cryptocurrency details, or specific launch dates for individual countries. Mikhailishin doesn't provide investment advice, detailed banking fee comparisons, or complete regulatory frameworks for all BRICS nations.
The discussion excludes step-by-step user interface demonstrations and specific partnership agreements with banks or institutions. While touching on Finance and Economy integration, this video avoids deep de dollarization political implications or comprehensive geopolitical analysis of the new technology's broader impact on global monetary systems.
#bricspay #brics #dedollarization
00:00 - Andrey Mikhailishin reveals insights about BRICS Pay and its vision for global finance.
03:05 - BRICS Pay aims to evolve global payment systems connecting various national infrastructures.
06:30 - BRICS PAY develops cashless payment solutions for foreign visitors in Russia.
09:53 - BRICS Pay aims to complement, not oppose existing payment systems.
12:57 - Western sanctions hinder BRICS Pay implementation across member countries.
16:14 - BRICS Pay project welcomes global participation without restrictions for citizens.
19:16 - BRICS PAY develops secure financial infrastructure cautiously.
22:11 - Difference between BRICS Pay and
Get unprecedented access to BRICS Pay CEO interview with chairman Andrey Mikhailishin in this groundbreaking Think BRICS exclusive. Discover what BRICS Pay really is - not a SWIFT replacement or BRICS currency alternative, but an evolutionary BRICS payment system connecting existing infrastructures. Mikhailishin explains BRICS Pay explained as bridges between national payment systems like Russia's Fast Payment System, Brazil's PIX, China's UnionPay, and India's UPI.
Learn how BRICS digital payment technology works through two channels: C2B retail payments and B2B business transactions. The BRICS Pay Card prototype unveiled during Russia's presidency represents a new financial system BRICS approach to cross-border payments. This isn't BRICS vs SWIFT confrontation - it's collaborative Finance technology integration.
Discover BRICS Pay 2025 implementation challenges, including Western sanctions obstacles and regulatory compliance across BRICS+ member countries. Mikhailishin reveals current Russia deployment status and expansion plans to CIS, Middle East regions. The BRICS alternative to SWIFT operates as decentralized consortium, welcoming global participation beyond BRICS money transfer capabilities.
Understand the difference between BRICS Pay and BRICS Bridge (mBridge-style central bank digital currencies project). Get insider perspective on security measures, AML/KYC compliance, and why this represents evolution, not revolution in global Economy payments infrastructure.
This interview focuses on BRICS Pay fundamentals rather than technical blockchain specifications, cryptocurrency details, or specific launch dates for individual countries. Mikhailishin doesn't provide investment advice, detailed banking fee comparisons, or complete regulatory frameworks for all BRICS nations.
The discussion excludes step-by-step user interface demonstrations and specific partnership agreements with banks or institutions. While touching on Finance and Economy integration, this video avoids deep de dollarization political implications or comprehensive geopolitical analysis of the new technology's broader impact on global monetary systems.
#bricspay #brics #dedollarization
00:00 - Andrey Mikhailishin reveals insights about BRICS Pay and its vision for global finance.
03:05 - BRICS Pay aims to evolve global payment systems connecting various national infrastructures.
06:30 - BRICS PAY develops cashless payment solutions for foreign visitors in Russia.
09:53 - BRICS Pay aims to complement, not oppose existing payment systems.
12:57 - Western sanctions hinder BRICS Pay implementation across member countries.
16:14 - BRICS Pay project welcomes global participation without restrictions for citizens.
19:16 - BRICS PAY develops secure financial infrastructure cautiously.
22:11 - Difference between BRICS Pay and
Category
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NewsTranscript
00:00Hi and welcome. Today we are speaking with a man behind one of the most talked about
00:07innovations in global finance. I'm glad to present Andrei Mikhailyshin, the chairman and
00:18founder of BricsPay. Welcome Andrei. Hello, I'm nice to meet you. Dear friends, you might have heard
00:26about BricsPay on YouTube, on social media, maybe even in videos claiming that it's a new currency
00:35or a system meant to replace SWIFT or challenge US dollar. But today we are going to cut through
00:43all the hype and finally hear the truth straight from the official source. Andrei, one more time,
00:51welcome and thank you for your time. Thank you for your invitation. I'm very glad to
00:58give my information, my knowledge and my experience in BricsPay build for your and for your audios.
01:08In this exclusive interview, dear friends, God knows how many times I bothered Andrei with my messages
01:16asking him to come. So, and I hope today Andrei will explain what BricsPay really is, how it works,
01:26and what it means for the future of international payments. Well, let's get started. You might know,
01:36I see a lot of news about creation of alternative payment system within Brics pretty often.
01:43This is a topic that's being discussed at the highest levels by heads of states and ministers,
01:51so their working groups, of course. First, concrete talks about setting up a new payment system between
01:59member countries happened during Russia's presidency, and it was shown also a prototype of the BricsPay
02:09card. After the summit in Kazan, things did come a little bit. To be honest, when Brazil took the
02:18presidency, a lot of experts were, how to say, sceptical about the fact that Brazil will be involved
02:29in creating a new payment system. But even before the summit in Rio, President Lula said that the Brics
02:39countries are all for a transparent and secure payment platform. Andrei, please, it would be great if you
02:49could give us a simple overview of what BricsPay will be and how it will work. In simple terms, because
02:59the great number of our viewers, including myself, we are very far from the world of fintech and some
03:05technical issues about the implementation of that project. Anastasia, you touch a lot of sites
03:17about BricsPay, and I take the thoughts to explain everything. Firstly, I'd like to say that maybe I'm not a
03:29founder. As a founder, it's a good role of my role in BricsPay. I think it's more reflectable as a
03:38chairman,
03:39because I've had a lot of efforts, a lot of experts, companies, international companies from different
03:53countries to make abilities for building BricsPay solutions. I'd like to say that BricsPay is not
04:03about some revolution, but we talk about evolution. We create a new principle architecture of BricsPay
04:13of payment infrastructure, and we have a lot of work, and we divide all of this work on the stages.
04:24On the first stage, we create bridges between existing payment systems. It will be such a Visa,
04:33MasterCard, SWIFT, etc., as well as a national payment system. In many countries, it's
04:42open payment infrastructure. And for example, one of the latest news is that Europe launched their
04:51own payment infrastructure. It's a blue code to provide services for the European citizens to use
05:02their own payment solutions. In Russia, we have a fast payment system. In Brazil, the peaks
05:10and a low cards in China, China UnionPay, WeChatPay, Alipay, in India, RuPay, UPI, etc., etc., etc.
05:22And today, a few national payments have bridges between each other to give abilities to use the
05:31national payment services behind the countries. And BricsPay is a project that connects all existing
05:46payment systems. And we make our infrastructure not against the dollar, or against SWIFT, or against
05:54visa, etc., etc., and all. We made our efforts to connect each other, to give abilities, peoples and businesses
06:07make payments between the borders. It's the main idea about what we work and for what we build BricsPay.
06:21BricsPay have two hands. In one hand, it's a C2B retail payments. In another hand, it's a B2B
06:30payments for the businesses. B2B, we can business to business or bank to bank. And we give efforts to
06:38peoples to use their payment solutions, their national payment solutions, as well as Visa or MasterCard,
06:50to make cashless, seamless payments behind the world. Today, we build infrastructure to give abilities on the
07:02first step for the foreign visitors in Russia to make cashless payments around the Russians,
07:15around Russia. We build, fully built international infrastructure. Right now, we have a lot of work inside Russia.
07:26Unfortunately, to make infrastructure behind the Russian borders, it's more easy that have built connections inside Russia.
07:37It depends on different parts, different peoples, and some one is not very good people, I wouldn't like to say.
07:48But we finished our hard work in Russia. And we will be ready in one or two months to start
08:01the services for the foreign citizens in Russia to make payments.
08:07On the other stages, we provide these abilities for behind the Russian borders in different countries,
08:17in CIS countries, in Middle East countries, etc., etc.
08:23As I said before, we make bridges between the national payment infrastructure,
08:29as well as we can provide technology and solutions for the countries that want to build their own
08:40infrastructure. We collect companies, technical companies, infrastructure companies,
08:49that have a full stack of technologies to build national payment infrastructure.
08:56And we call it BricsPay Consortium. And consortium don't have any head companies or any head peoples.
09:05Our idea is like DAO, Decentralized Autonomic Organizations. We use different approaches, different...
09:21We take into account national regulations in the payment infrastructure, in the working of the company,
09:30and we create such a big community that provide for us, for people, for businesses, technologies to build something new.
09:46Yes, it's an alternative payment infrastructure, but not against any existing payments,
09:53payments infrastructure, payments companies in the world.
09:56Thank you. Thank you, Andrey. It's very important to know that it is not against
10:04anyone. Yes, often we see, we see and we hear and we read and that Brics is against West. BricsPay
10:12against Swift. No, we should say it one more time. It's not against anyone. It's an alternative.
10:19Yeah, I think that it's some click bait about authors of such materials, but it's not true.
10:29That's not true. As I understood well, you are a head of the working group from the Russian side.
10:36And so you know very well how goes this project inside Russia. So can you update what stage?
10:44Yeah, you're right. I'm a chairman of Brics Payments and Fintech, a tax force in a financial services
10:54working group from the Russian chapter in the Brics Business Council. Inside Russia, we all agree that
11:04it's very important and very needed services for the Russian peoples and for the foreign peoples who
11:11traveling inside the Russia. We have a good relationship with the Russian central bank.
11:17We have a negotiation and we have relationships with the different Russian banks. But here is very
11:28sensitive questions because inside Russia, all top banks are under sanctions. Of course,
11:37we want to give abilities to businesses to make payments behind the sanctions. But we want to work
11:47together with the SWIFT, with the Visa, MasterCards, etc. And we must take into account the legislation of
11:57their fatherland government. For example, USA, where Visa is based. And we must take into account the
12:09sanctions and restrictions that have a Visa. And we don't have abilities to work directly with the Russian's
12:21biggest banks because they are under Western sanctions. And we make some special infrastructure, some
12:34operational companies that not catch, that not touch sanctions banks in Russia. And it's some
12:43obstacles that don't give abilities for us to start immediately. We must,
12:51take into account all of these points. I see. So, we may say that the main obstacle to
13:01the fast implementation of the BRICS Pay project, it's Western sanctions and coordinations among
13:10motherland banks, Visa and MasterCard. You see that right now in BRICS, we have 10 member countries and
13:21another nine partner countries. Are all of them involved in this project or some involved, others not? Or maybe,
13:31I don't know, Russia and Brazil working more closely, China and India not so close in this issue. So, how
13:40how the process goes among the countries?
13:44Stacey, your question is very interesting. It's different. We have different cases in a different time.
13:54I'd like to say that mostly of all countries involved in discussions about BRICS Pay project.
14:02In the past year when Russia was head of BRICS, all countries, only Ethiopia don't
14:14link to our discussions about BRICS Pay, but all other countries have some decisions, make decisions
14:23about BRICS Pay. In this year, it's a very short time for making some new cases for discussions about
14:37all projects in a financial services working group, because Brazil has only half a year for us,
14:49for our together work, and BRICS Pay project in the annual report of the BRICS Business Council
14:572025 in the discussions. And we have good relationships with the United Arab Emirates, with Iran,
15:07some interesting links with the relationships with the Indian and a part of China. Furthermore,
15:17more our partner today fly to the Beijing and he will have meetings with the One Pass, New Silk Road
15:34in China,
15:37and discuss our technologies of BRICS Pay to make
15:42and payment infrastructure for the One Pass, for the One Belt, One Road.
15:51Yeah, the Belt and Strong initiative, yeah.
15:53Yeah, Indonesia is a new participant country, full participants in BRICS. They are today built there
16:04on BRICS Business Council, but our colleagues from Indonesia have relationships with our working group,
16:17and we talk about, involve colleagues in a BRICS Pay project. As well as some of countries from the
16:28as a partnership, partner countries for the BRICS, we have good relationships with Turkey, with
16:39Belarus, etc. As well as we working together with countries that are not, not have a status of full
16:50a full participant or a partner country in BRICS. BRICS Pay is a totally open project, and we welcome for
17:03all
17:03countries to make a new infrastructure for the BRICS Pay project.
17:12Well, our viewers are worldwide, and anticipating the question, will citizens of countries that are not
17:21part of the BRICS group be able to use this payment system?
17:25Yes, of course. As I said, we don't have any restrictions for citizens from other countries,
17:39but I'd like to say that in other countries have some restrictions. For example, if we want to provide
17:46the services for the American citizens from USA, we must support the legislation and regulations from the U.S. states,
17:57and we are not ready to open our companies in the U.S. and support the legislations, but I think
18:07maybe
18:07some time later we will be ready to make that. On the other hand, if we talk about European Union,
18:16we must support,
18:18for example, GDPR. We need to open companies inside the European Union, from one of the countries in the
18:27European Union, and support data security for the European citizens. Maybe we
18:37do that, but sometimes later. On the other hand, we have an approach today, you know, about a black list
18:50of the FATF.
18:52Unfortunately, for example, Iran is in the black list, and on the start, we cannot support countries in a black
19:03FATF list. But I think step by step, we create some infrastructure, some decisions, some organizations
19:13that we provide such services for such countries, for citizens from countries in the black list of FATF.
19:24Well, I see, it's a lot of obstacles. It's not so easy as we suppose it could be, should be,
19:32even among BRICS countries.
19:34Well, yeah, yeah, I'd like, sorry, I'd like to say that really war today is very difficult, very,
19:40a lot of interconnections and links between
19:46in the financial service. And we don't want to make a revolution.
19:52We, we step, we create our infrastructure step by step. We, we, for evolution.
20:01Okay, I see. One more question about the security and transparency of the payments made by BRICS
20:13pay. So, because you know that today there is a lot of issues with terrorism and financing terrorism
20:23and so on, and some illegal, I don't know, transactions. How do BRICS pay cover these movements?
20:33Of course, we used, for example, on the start, we will be used some, some sub technologies for the AML,
20:42KYC
20:44services. Of course, we, we work together with the regulators in the countries. In Russia, we work with
20:52central, in different, in all countries, we have relationships with, with central banks. And of course,
21:00we need to support, um, the national regulations, uh, against, uh, uh, terrorism, etc. And of course,
21:10we, uh, support all national, uh, requires for the AML, KYC and KYT services. Know your transactions. Yeah.
21:21It's very, it's very, it's very important part, uh, for, uh, our, uh, technologies and for our services.
21:30Uh, all people that, uh, for example, if we talk about, uh, um, uh, C2B, uh, BRICS pay for the
21:38retails,
21:38uh, uh, I, I'm sure, I, I think on the next video, I will show, uh, how, uh, we can,
21:46how, how our users
21:48will be have, uh, abilities to, uh, uh, make, uh, BRICS pay account. And you can see that, uh, it's
21:57need to, uh, provide, uh, securities, provide AML, KYC, uh, services, uh, uh, uh, but only after that,
22:08we can open for our, uh, users, uh, account in a BRICS pay application.
22:17Thank you. One more question. And I think we will close for today. Now we know a little bit more
22:26about BRICS pay, but there is another, uh, set expression we, we often see and hear on YouTube,
22:34that is BRICS bridge. And a lot of us, we do not understand the difference. What is BRICS pay?
22:42Okay. But what is BRICS bridge? Can you explain us the difference between, uh, those projects?
22:49Okay. Yeah. Uh, BRICS bridge is, um, uh, on the first step, it's real, uh, it was, uh, idea of
22:55Russian
22:56minister of finance. And after that, uh, Russian central bank, uh, uh, catch this project and, uh,
23:05some transformation, uh, today, uh, BRICS bridge is a project about central bank digital currencies to
23:13create, um, some infrastructure to make payments, uh, on the central bank side, uh, central banks to
23:22central banks, uh, uh, payments based on their, uh, national digital currency. It's very simple.
23:31It's like as an, um, bridge project, uh, in, uh, for, um, China, uh, Hong Kong, uh, United Arab Emirates,
23:41Thailand, and Saudi Arabia. It's the same, the very like, uh, project for the BRICS countries,
23:49countries. But I know, uh, that it's, uh, some difficult to, uh, uh, in a discussion, uh, uh,
23:55in the discussions, uh, uh, uh, about BRICS bridge projects, uh, between, uh, uh, BRICS central banks.
24:03And as I know, I think it's correct that, uh, this, uh, uh, project transforms, they call, uh, transform from,
24:11from the, uh, another one because BRICS bridge is very like, uh, uh, as a M bridge project and the
24:20Chinese side not support, uh, uh, this name, uh, uh, of project. And, uh, if we divide, uh, BRICS pay
24:29and BRICS bridge, uh, BRICS bridge project is a project for, uh, digital, uh, national currencies,
24:36for central bank, digital currencies, and it's about payments, uh, between central banks of BRICS
24:44countries. BRICS bridge projects, it's, uh, fully support, uh, cashless, uh, payments and, uh, as well as
24:54CBDC, uh, then, uh, when, uh, this project has started in our countries. It's this project for business
25:02to business bank to bank and people to, uh, uh, people to, to companies, uh, payments, uh, for in,
25:11in retail, uh, everyday work. But, uh, I think maybe in the future, uh, these projects can, uh, make
25:21to get to, to, to, to, uh, to operate together. Maybe BRICS pay will be, uh, use infrastructure, uh,
25:30BRICS bridge, but I think it's in the future. Okay. So there is a possibility they will be combined
25:37somehow. Maybe. Yeah. Yeah. So the, the thing that I understood for myself today that that's a lot of
25:46work to do, and, um, it's not so fast as we're supposed to be to think that implementation of BRICS
25:54pay among BRICS countries. It's just as simple as, I don't know, to take a coffee. Well, yeah, yeah.
26:04Sorry. I want to add that we don't have a, we don't, uh, give a money from, uh, any, uh,
26:11any country.
26:12Uh, we don't have a money of, uh, our governments. Uh, we built it's fully independent from the political
26:20engagement people, political, uh, maybe some companies or funds, uh, and we, uh, we're looking
26:29for investing from the businesses that will use, uh, uh, our decision. We don't have unlimited, uh,
26:39financial infrastructure and finance from, from the governments. It's, uh, it's, uh, uh, it's not
26:47an obstacle, but, uh, uh, we, uh, maybe we will be, uh, forward, uh, move forward more quickly, but, uh,
26:58we don't want any political engagement. That's interesting to know, actually.
27:05Well, dear friends, uh, we close for today and, um, now, dear viewers, you have more knowledge
27:13than most people in the world, actually, about BRICS Pay. Keep following ThinkBRICS and we will
27:21bring you all the latest updates about what is happening in the world of BRICS. Andrei, I can't
27:29thank you enough for accepting my invitation and for taking the time to, to come to us, to chat,
27:37to talk to us. And I really hope that we get to see you around more often, both as friends
27:44and as
27:44the guests of our, our channel. Um, and, um, actually, um, as you mentioned before, we are going to do
27:54that
27:54and we will make a set of videos explaining how BRICS Pay is working and what news and updates of
28:04this
28:04project. Right? Yeah. Yeah. Keep in touch and thank you for invitation. Thanks for your interesting for
28:12our team. Uh, it's really, I think it's very important for all of us. Thank you and keep in touch.
28:19Thank you. Thank you very much. Bye-bye. Dear friends, if you are just discovering our channel,
28:27I would love you to subscribe and share this video. Keep following ThinkBRICS. Thank you for watching.
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