Home/India/Tech & InnovationArticle
Tech & Innovation

UPI becomes India’s calling card as BRICS weighs linking payment rails

India is using the BRICS summit to pitch its Unified Payments Interface as a template for cross-border settlement, with New Delhi proposing links between member central bank digital currencies. UPI now handles half the world’s real-time digital payments.

BRIC Team
By BRIC Team · BRIC.TV
Published Sep 11, 2026 · 2 min read · 175 views
UPI becomes India’s calling card as BRICS weighs linking payment rails

Key Takeaways

  • •UPI processes around 50% of the world’s real-time digital payments
  • •India has proposed linking BRICS central bank digital currencies for cross-border settlement
  • •Faster cross-border payments and wider national-currency use are on the leaders’ agenda
  • •No BRICS member has agreed to a common currency

India arrived at its own BRICS summit with one exportable piece of infrastructure, and it spent Thursday selling it. The Unified Payments Interface now handles roughly half of all real-time digital payments made anywhere in the world, and Narendra Modi put that number in front of the BRICS Business Forum at Bharat Mandapam before the leaders’ sessions opened.

"India’s UPI has, on a population scale, given digital transaction and financial inclusion new heights," the prime minister said.

The pitch behind the statistic is narrower than the statistic suggests. New Delhi is not proposing that other members adopt UPI. It is proposing interoperability — that national instant-payment systems and, eventually, member central bank digital currencies be linked so a payment can clear across borders without routing through a correspondent bank in a third country.

Payments agenda

That sits on the leaders’ agenda alongside faster cross-border payments and wider settlement in national currencies. All three are versions of the same problem: members that trade heavily with each other still clear most of it in a currency none of them issues, paying spreads and settlement lag for the privilege.

The technical case is easier than the political one. Instant-payment rails are national systems built to national rulebooks, with their own identity layers, message formats and settlement finality rules. Linking two is a bilateral project measured in years. Linking eleven, plus ten partner countries, is not a summit deliverable — it is a decade of plumbing.

What a summit can produce is a mandate to start. India has spent its chairship year building the case in meetings rather than communiqués: more than 350 BRICS gatherings across 25-plus Indian cities, a large share of them technical, before any leader landed.

The distinction New Delhi keeps drawing is between settlement plumbing and monetary politics. Linking payment systems lowers the cost of trading in rupees, reais or dirhams. It is not a common currency, and India has been careful to say so — there is no agreement among members on one, and the subject carries a direct cost. US President Donald Trump has threatened 100% tariffs on countries pursuing what he has characterised as anti-dollar initiatives.

That threat shapes the language more than the engineering. A member can build interoperable rails and describe them as trade facilitation. The same rails described as de-dollarisation invite retaliation. India, which runs a large trade relationship with the United States, has every reason to keep the framing technical.

Digital trade and artificial intelligence also feature in the economic sessions running Friday and Saturday, part of an agenda that stretches from supply-chain resilience to energy security and climate finance. Leaders are expected to issue a New Delhi Declaration before the summit closes.

#BRICS#BRICS Summit 2026#New Delhi#India#TECH

Related Articles

China boosts Hua Hong with state funds for Wuxi fab expansion

China boosts Hua Hong with state funds for Wuxi fab expansion

Hua Hong Semiconductor receives increased state funding to expand its Wuxi fab, focusing on legacy chip production to enhance China's domestic supply chain. This move aims to counter US restrictions and strengthen China's semiconductor self-reliance.

James Whiteson

Oct 16, 2026•2 views
China competition and 2029 oversupply fears hit memory chip stocks hard

China competition and 2029 oversupply fears hit memory chip stocks hard

Memory chip stocks like SK Hynix and Samsung are down due to fears of Chinese competition and oversupply. Analysts Ben Barringer and Kevin Cassidy doubt ChangXin Memory Technologies' impact on market balance, while a South Korean column predicts a RAM oversupply by 2029.

Shagun Pandey

Oct 15, 2026•9 views
Cerebras CEO explores AI scaling limits at TechCrunch Disrupt

Cerebras CEO explores AI scaling limits at TechCrunch Disrupt

Cerebras CEO Andrew Feldman will explore AI scalability challenges at TechCrunch Disrupt in San Francisco from October 13-15. The event will address the future of tech across various sectors, including AI, robotics, and biotech.

Utkarsh Aggrawal

Oct 11, 2026•10 views
Ukraine drone strike damages Yandex data centre near Moscow

Ukraine drone strike damages Yandex data centre near Moscow

Yandex's data center near Moscow was hit by a Ukrainian drone strike, marking the third attack on the company this week. The strike has disrupted services, and tensions rise as Ukraine and Russia continue to target each other's infrastructure.

Shagun Pandey

Oct 11, 2026•5 views
AI adoption by 90% of UK lawyers challenges billable hour model

AI adoption by 90% of UK lawyers challenges billable hour model

AI adoption in the U.K. and Ireland legal sectors is prompting firms to reconsider the billable hour, with nearly 90% of professionals using AI. This shift is challenging traditional billing and training methods, potentially altering how lawyers work and learn.

Shagun Pandey

Oct 10, 2026•11 views
Turnitin report highlights reduced AI reliance with Clarity platform

Turnitin report highlights reduced AI reliance with Clarity platform

Turnitin's report shows reduced AI reliance for students using its Clarity platform across the US, UK, and A/NZ. This transparency fosters critical thinking and eases student anxiety about AI detection.

Ramesh Gupta

Oct 8, 2026•10 views