Impact of a BRICS integrated payment system on cross-border e-commerce

Abstract

This article examines what a BRICS integrated payment system can be and how it may affect the cross-border e-commerce dynamics. First, we show how the current international transaction system works, its geopolitical consequences and what a BRICS independent payment system implies. Second, we examine the current e-commerce scenario in BRICS, its main challenges, and what can be improved in it with the help of the proposed exclusive financial network. In conclusion, we review the current situation and make some necessary comments.