the new international payment system in «brics …
TRANSCRIPT
THENEWINTERNATIONALPAYMENTSYSTEM
IN«BRICSPLUS» FORMAT&
ITS«BRICSPAY» RETAILSEGMENT
OLEGPREKSIN– JERRYMASHAMBAFINANCIALSERVICESWORKINGGROUP
JOHANNESBURG,APRIL3-4,2019
GEOGRAPHICALLAYOUTOFSETTLEMENTSTHROUGHTHENEWINTERNATIONALPAYMENTSYSTEM(NIPS)
Asia plusAsiaplus
Africaplus
LatinAmericaplus
Banks
Banks
Belarus
Armenia
Banks
Banks
Banks
ROUTERCLOUD
EAEС-plus
The development of the New InternationalPayment System Project (NIPS) was highlighted bythe heads of the BRICS Business Council nationalchapters among the priority items of commoninterest,where the progress has been achieved.
NIPSPROJECTINTHEFIFTHANNUALOFTHEBRICSBUSINESSCOUNCIL
NIPS initiative has been championed by the Councilalongside a few others at the presentation of theAnnual Report to the BRICS leaders at the 10th Summit
open
PPP
ROUTER CLOUD
NUA
PROPOSEDDISTRIBUTEDROUTERSTRUCTURE
New Unit of Account
NIPS
SDRBASKETANDTHENEWUNITOFACCOUNT
The Special Drawing Rights (SDR) basket may be taken for a basis
The basket of the New Unit of Account (NUA) can include national currencies of all the BRICS countries
$41,73%
€30,93%
£8,09%
Ұ10,92%
¥8,33%
TENTATIVE BASKET OF THE NEW UNIT OF ACCOUNT (NUA)(the exchange rate will be calculated in real time)
$37,73%
€30,93%
£8,09%
R1%
₹1%
₽1%
Ұ10,92%
¥8,33%
R$1%
SDR BASKET
NUA
EXEMPLARYCONTENTSOFTHEE-WALLETFORUSEINNIPS- BRICSPAYTRANSACTIONS
NIPSBRICSPAYSYSTEMMAINCOMPONENTS
Private users and point of
sales
Private users and point of
sales
NIPSProcessinginfrastructure
Anchor (clearing) banks and partner financial
institutes of BRICS countries
RETAIL SEGMENT
ROUTER
NIPSBrazil
ROUTER
NIPSRussia
ROUTER
NIPSIndia
ROUTER
NIPSChina
ROUTER
NIPSRepublicofSouthAfrica
Distributed Processing
Centers
Information inquiries: Private user’s (Tourist’s) ID and transaction dataFinancial flows
Tourist’sHomeBank
PartnerBankintheCountryofDestination
NationalProcessingCenter
ProcessingCenter intheCountryofDestination
Merchant(PointofSale)
SAMPLEPILOTTRANSACTION:ATOURISTFROMONEBRICSCOUNTRYMAKESAPURCHASEINANOTHER
Tourist(PrivateNIPSUser)
2 121
3
3
Sequence of actionsand their refectionin mutual settlements
12
ROUTER
NIPS
THEFIRSTDEMOPURCHASEUSINGBRICSPAYWALLET
NIPS Entry Points
PROSPECTSOFTHENIPSPROJECTFURTHERDEVELOPMENT
Banksandotherfinancialinstitutions
NewCurrencyUnit(NUA)&ContingentReserveFund
POSandATMs Groundstationsforinformationtransmision,processingandstorage
MFIMultilateral
FinancialInstitution
NUA NCU
BRICSPAY
• BRICS Pay Internet system allows the user tomanage his account 24 hours a day from anycomputer or mobile device, to pay for variousservices and commodities, to transfer funds, paytaxes and a lot of other things.
• The participating banks and other financial entitiesreceive a developed functionality of paymentservices for their customers, as well as the abilityto accept online payments to merchants withwhom they have signed contracts from anycustomers participating in the system.
• The BRICS PAY platform is being developed by theinitiative group ready to be formalized into amanagement company with the purpose toprepare its pilot operations at the earliestconvenience.
BRICSPayisaninternationalpaymentsystem,offeringtotheparticipatingbanks andotherfinancial institutionsInternetandMobilebankingplatforminacloudformat.
FORA-BANK
FORA-BANK:theversatileprivatecommercialbankprovidingvariousservicestoindividualsandbusinesscustomers– SMEsaswellastoleadingenterprises
Key products:§ Commercialcredits&guaranteesAcquiring§ Financingexternaleconomicactivity§ Bankingcards§Depositsafes§Moneytransfers
Solutions:§Havingtheirownprocessingcenterbasedontheleadingtechnologyplatform§ AcquirerandissuerofnationalpaymentcardMIR§ BeingamemberofVISAandMasterCardasacquirerandissuer§Developingnewpaymentmethods
JOYSDIGITAL
Joys is a payment service provider on block-chain platform that allows to add almost any digital financial assets and token as a legal means of payment for purchases in all countries.
Key features:• Legalize the turnover of сrypto-assets• Allow to use any digital financial assets• Ready product• Huge potential for scaling • Unique solution for the digital market
Advantage:• Own independent infrastructure in more than 30
countries• Beneficial for customers, stores, insurers, real estate
developers, brokers etc.• Suitable for any projects with their own digital assets• Doesn’t require special hardware or software in stores
Presentin>30countries
