Nexus Global Payments (NGP) has appointed Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) joint venture as the Nexus Technical Operator (NTO).
This follows a competitive procurement process involving global bidders and marks a major milestone in building an interoperable global payments infrastructure, NGP said in a statement on Monday.
The evaluation of bidders considered technical capability, operational resilience, cost efficiency, and alignment with Nexus’ vision for global interoperability.
PayNet and NETS joint venture emerged as the preferred partner due to the proven track record of the two leading ASEAN payment networks behind it and their commitment to innovation and collaboration.
The newly appointed NTO will work closely with leading global firms Amazon Web Services and Endava to deliver the technical design and development of the Nexus platform.
Amazon Web Services is a global cloud technology leader that has made cloud computing and generative AI accessible to organizations of every size and industry whilst Endava leads the end-to-end design and engineering, applying its artificial intelligence (AI)-native approach and deep industry expertise to build a resilient, future-ready solution.
This global delivery capability and collaboration ensures that Nexus is built to meet international standards, scalable from inception and reflects best practices drawn from a wide range of payment system environments.
The NTO will be responsible for building, 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 to enable the banks and non-bank entities participating in these domestic systems to be part of the network.
“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,” said Andrew McCormack, Chief Executive Officer, NGP.
He added Nexus is shaping a future where cross border payments are instant, accessible, and seamlessly connected.
Praveen Rajan, Chief Executive Officer, PayNet, the appointment of NGP reflects the trust in PayNet’s domestic capabilities and its growing track record in enabling cross-border payments.
“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,” he added.
Lawrence Chan, Group Chief Executive Officer, NETS, also said this appointment reflects a strong vote of confidence in the firm’s ability to build and operate payment infrastructure at scale and reinforces Singapore’s pivotal role in advancing cross-border payment innovation.
“The NETS Group was involved in establishing the first bilateral cross-border linkage between Singapore and Thailand for account-to-account transfers in 2021 and we are excited to bring this spirit of innovation to enable seamless cross-border payments through a ‘network-to-network’ ecosystem,
“We look forward to advancing the vision of borderless payments, working collaboratively towards a modern, real-time international payment network infrastructure,” he added.
PayNet is Malaysia’s national payments network and shared infrastructure provider, operating services such as DuitNow Transfer and DuitNow QR.
It plays a central role in modernizing and innovating Malaysia’s digital payment agenda. NETS is Singapore’s leading payment solutions provider, backed by over forty years of experience in delivering secure, efficient payment systems in Singapore and expanding in recent years to offer regional connectivity.
The joint venture combines PayNet’s domestic expertise and NETS’ technical capabilities to deliver a world-class platform for Nexus.
This partnership reflects a shared commitment to innovation and financial inclusion across Asia and beyond.
The selection of the NTO represents pivotal progress toward Nexus’s first live deployment across its initial cohort of countries.
With technical development scheduled to begin in early 2026 and go-live targeted for 2027, this trajectory reflects NGP’s unwavering commitment to delivering a sustainable, scalable, and globally interoperable solution—one that redefines speed, transparency, and accessibility in international transactions, said the statement.
Korea, Indonesia to launch cross border QR payment service in April