PayNet and NETS’s joint venture has been named Nexus Technical Operator, concluding the process by Nexus Global Payments.
Nexus Global Payments (NGP), a not-for-profit organisation that manages the Nexus global payments scheme, has appointed Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) joint venture as the Nexus Technical Operator (NTO).
The evaluation considered technical capability, operational resilience, and alignment with Nexus’ vision for global interoperability, and PayNet and NETS emerged as the preferred partner due to their proven track record.
The newly appointed NTO will work closely with global firms Amazon Web Services and Endava to deliver the technical design and development of the Nexus platform. The NTO will be responsible for operating and maintaining the Nexus infrastructure, ensuring compliance with global standards, and delivering robust cybersecurity and operational resilience.
It will also coordinate the onboarding of entities that are responsible for managing domestic instant payment schemes that will connect to Nexus.
Andrew McCormack, CEO of Nexus Global Payments, said: “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.”
Lawrence Chan, Group CEO of NETS, said: “This appointment reflects a strong vote of confidence in our ability to build and operate payment infrastructure at scale and reinforces Singapore’s pivotal role in advancing cross-border payment innovation.”
Praveen Rajan, CEO of PayNet, said: “Through DuitNow and our regional interoperability efforts, we’ve shown what’s possible and now we’re ready to scale that impact globally through Nexus. We’re proud to be part of this next chapter in building a more connected, inclusive, and seamless global payment ecosystem.”
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