Nexus Global Payments (NGP) has appointed a joint venture between Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) as the Nexus Technical Operator (NTO), following a competitive procurement process involving international bidders.
The joint venture was selected for its technical capability, operational resilience, cost efficiency, and alignment with Nexus’ goal of global payments interoperability.
The NTO will work with Amazon Web Services and Endava to deliver the technical design and development of the Nexus platform. AWS provides cloud infrastructure and AI capabilities, while Endava leads end-to-end design and engineering.
The NTO will be responsible for building, operating, and maintaining the Nexus infrastructure, ensuring compliance with global standards, robust cybersecurity, and operational resilience.
It will also coordinate the onboarding of entities managing domestic instant payment schemes that connect to Nexus.
Andrew McCormack, CEO of NGP, said:
“Our partnership with PayNet and NETS is a major milestone towards our vision for an interoperable global payments network. Nexus is shaping a future where cross‑border payments are instant, accessible, and seamlessly connected.”
Praveen Rajan, CEO of PayNet, added:
“Being selected as the Nexus Technical Operator reflects trust in Malaysia’s capabilities. Through DuitNow and regional interoperability efforts, we are ready to scale this impact globally.”
PayNet operates Malaysia’s domestic payment infrastructure, including DuitNow Transfer and DuitNow QR. NETS provides payment solutions in Singapore and regional connectivity.
The joint venture combines their expertise to support Nexus’ goal of connecting domestic real-time payment systems. It also aims to reduce intermediaries and enable near-instant cross-border transactions.
Technical development begins in early 2026, with a target go-live in 2027.
Featured image credit: Nexus Global Payments (NGP)
