25Sep 2026

UGI USER
blockchain payments BRICS payments CBDC CIPS cross-border payments digital currency financial infrastructure fintech geoconomics global payment systems international payments mBridge payment rails SPFS SWIFT alternatives
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SWIFT Alternatives: New Global Payment Systems

ALTERNATIVES TO THE SWIFT PAYMENT SYSTEM: THE EMERGING GLOBAL PAYMENTS LANDSCAPE Why in the News? The recent BRICS Summit renewed discussion on increasing trade and payments in national currencies, amid growing concerns over the use of financial sanctions and the dominance of the SWIFT–dollar correspondent banking system. Proposals involving CBDC interoperability and alternative payment infrastructures …

05Nov 2025

UGI USER
BRICS BRICS Pay CIPS cross-border payments Current Affairs de-dollarization digital currency Economic diplomacy financial sovereignty global payment system International Trade multipolar financial order New Development Bank Sanctions SPFS SWIFT UPI UPSC mains
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BRICS vs SWIFT: Rising Payment Alternatives 2025

HOW BRICS IS CHALLENGING SWIFT Syllabus: GS-2: Bilateral, Regional and Global Grouping and agreements involving India. Why in the News? The BRICS grouping — Brazil, Russia, India, China, and South Africa, along with new members such as Iran — is advancing efforts to challenge Western financial dominance through initiatives like BRICS Pay, a proposed cross-border …

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SWIFT Alternatives: New Global Payment Systems

BRICS vs SWIFT: Rising Payment Alternatives 2025