Nexus Global Payments (NGP), a not-for-profit organization focused on global interoperable payments, has appointed a joint venture between Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) as its Nexus Technical Operator (NTO). This decision follows a competitive procurement process and represents a step in establishing a global payments infrastructure designed for instant, accessible, and seamlessly connected cross-border transactions.
The evaluation criteria for the NTO selection included technical capability, operational resilience, cost efficiency, and alignment with Nexus’ vision for global interoperability. The PayNet and NETS joint venture was selected based on the proven track record of these two ASEAN payment networks and their commitment to innovation and collaboration.
In their role, the newly appointed NTO will collaborate with global firms Amazon Web Services (NASDAQ ‘AMZN’) and Endava (NYSE ‘DAVA’) to develop the technical design of the Nexus platform. Amazon Web Services, a global cloud technology leader, provides cloud computing and generative AI solutions. Endava is tasked with end-to-end design and engineering, applying an AI-native approach and industry expertise to build a resilient and future-ready solution. This collaboration aims to ensure the Nexus platform meets international standards, is scalable from inception, and incorporates best practices from various payment system environments.
The NTO’s responsibilities include building, operating, and maintaining the Nexus infrastructure, ensuring compliance with global standards, and delivering robust cybersecurity and operational resilience. Additionally, the NTO will coordinate the onboarding of entities responsible for managing domestic instant payment schemes, allowing banks and non-bank entities participating in these systems to join the Nexus network.
Andrew McCormack, CEO of NGP, stated that the partnership with PayNet and NETS is a significant milestone towards their vision for an interoperable global payments network. He expressed confidence that with the chosen partners’ expertise and commitment to innovation, Nexus will be resilient, aligned with international standards, and prepared for future global scale.
Praveen Rajan, CEO of PayNet, commented that being selected as the Nexus Technical Operator alongside NETS is an honor for Malaysia. He noted it reflects trust in Malaysia’s domestic capabilities and growing track record in cross-border payments, citing DuitNow and regional interoperability efforts as examples ready for global expansion through Nexus.
Lawrence Chan, Group CEO of NETS, also conveyed honor in the appointment, emphasizing it as a vote of confidence in their ability to operate payment infrastructure at scale and reinforcing Singapore’s role in advancing cross-border payment innovation. He mentioned NETS Group’s involvement in establishing the first bilateral cross-border linkage between Singapore and Thailand in 2021 and expressed excitement to apply this innovative spirit to a network-to-network ecosystem.
PayNet serves as Malaysia’s national payments network and shared infrastructure provider, operating services such as DuitNow Transfer and DuitNow QR. It plays a role in modernizing Malaysia’s digital payment agenda. NETS, Singapore’s leading payment solutions provider, has over forty years of experience in secure, efficient payment systems in Singapore and has expanded to offer regional connectivity. The joint venture combines PayNet’s domestic expertise with NETS’ technical capabilities to deliver a platform for Nexus.
This NTO selection marks progress toward Nexus’s initial live deployment across its first group of countries. Technical development is scheduled to commence in early 2026, with a targeted go-live date in 2027. Nexus aims to simplify cross-border payments by connecting domestic real-time payment systems, thereby reducing reliance on intermediaries, cutting costs, and enabling international money transfers within seconds through familiar banking or payment applications.
Nexus Global Payments (NGP), founded in March 2025, is a not-for-profit organization dedicated to managing the Nexus scheme and expanding its reach. Nexus is a global payments scheme that standardizes connections between instant payment system (IPS) operators, allowing them to integrate once to access a growing network of countries. NGP’s mission to enable instant, secure, and efficient international payments aligns with the G20 Roadmap for Enhancing Cross-Border Payments targets for speed, cost, accessibility, and transparency. Its founding partners include central banks and IPS operators from India, Malaysia, the Philippines, Singapore, and Thailand.
