Singapore-based Nexus Global Payments has appointed the joint venture between Payments Network Malaysia and Singapore’s Network for Electronic Transfers as the Nexus Technical Operator. The company is describing the move as a key step in the development of its global payments network.
According to a statement released Monday, the NTO will lead the designing, building and ongoing operation of the company’s platform. Working alongside Amazon Web Services and Endava, the joint venture will ensure the platform meets international standards and incorporates best practices from multiple real-time payment systems worldwide.
As technical operator, PayNet and NETS will be responsible for maintaining the core infrastructure and managing the onboarding of organizations that run domestic instant payment schemes, which will allow banks and non-bank financial institutions connected to those national systems to participate in the Nexus network for cross-border transactions.
“Our partnership with PayNet and NETS is a major milestone towards our vision for an interoperable global payments network. With our chosen partners’ proven expertise and commitment to innovation, we are confident that Nexus will be resilient, aligned with international standards from day one, and ready for future global scale. Nexus is shaping a future where cross-border payments are instant, accessible, and seamlessly connected,” NGP CEO Andrew McCormack said in a statement.
