PayNet, NETS to build Nexus cross-border payments hub

Nexus Global Payments has appointed a joint venture between Malaysia's Payments Network Malaysia (PayNet) and Singapore's Network for Electronic Transfers Singapore (NETS) as Network Technical Operator for its cross-border instant payments scheme. Amazon Web Services (AWS) and Endava will support the platform's technical design and development alongside the operator.

The award follows a competitive procurement process involving bids from global suppliers. Nexus assessed bidders on technical capability, operational resilience, cost efficiency, and alignment with its approach to interoperability between domestic instant payment systems.

PayNet and NETS will be responsible for building, operating, and maintaining the Nexus infrastructure. They will also manage compliance with global standards and oversee cybersecurity and operational resilience.

Nexus is designed to connect domestic real-time payment systems through standardised links between instant payment system operators. It aims to reduce reliance on intermediaries in cross-border payments and enable users to send and receive money internationally within seconds through existing banking and payment apps.

Under the programme's delivery model, AWS and Endava will work with the operator on the technical design and development of the Nexus platform. AWS will provide cloud infrastructure services, while Endava is expected to lead end-to-end design and engineering for the build.

A key task for the operator will be coordinating the onboarding of domestic instant payment scheme operators that connect to Nexus. This process will determine how banks and non-bank payment providers participating in domestic schemes gain access to the network.

Andrew McCormack, Chief Executive Officer of Nexus Global Payments, called the partnership "a major milestone" toward an interoperable global payments network. He said Nexus is intended to be resilient, aligned with international standards from day one, and ready to scale globally.

Regional operators

PayNet operates Malaysia's national payments network and shared infrastructure. Its services include DuitNow Transfer and DuitNow QR, which are central rails in Malaysia's domestic digital payments market.

NETS runs payment and clearing infrastructure in Singapore, including services that support account-to-account transfers. It also operates the national debit scheme and provides merchant acquiring and acceptance services across a wide network.

PayNet Chief Executive Officer Praveen Rajan said the appointment recognises Malaysia's domestic payments capability and its role in regional cross-border linkages. He said PayNet's work through DuitNow and regional interoperability efforts positions it to help scale Nexus globally.

NETS Group Chief Executive Officer Lawrence Chan pointed to Singapore's experience linking payment systems internationally, including the 2021 bilateral linkage with Thailand for account-to-account transfers. He said NETS aims to apply that experience to support seamless cross-border payments through a "network-to-network" ecosystem.

Build timeline

The selection of the technical operator sets a delivery path toward Nexus's first live deployment across an initial cohort of countries. Technical development is scheduled to begin in early 2026, with a go-live target of 2027.

Nexus Global Payments, the not-for-profit organisation that manages the scheme, was founded in March 2025. It presents Nexus as a standardised approach that allows instant payment system operators to integrate once and reach multiple cross-border corridors through a single framework.

The scheme's founding partners include central banks and instant payment system operators from India, Malaysia, the Philippines, Singapore, and Thailand. Additional participants are expected to join as the network expands.

Across Asia and elsewhere, more jurisdictions are building bilateral and multilateral links between domestic real-time payment systems as demand for instant transfers grows and policymakers seek cheaper, faster cross-border alternatives. Nexus sits alongside these efforts, focusing on standardised network connections between domestic schemes rather than one-off bilateral integrations.

Next, the operator and its technology partners will begin detailed design and engineering work for the Nexus platform as the programme moves from procurement into delivery.