Nexus Global Payments connects domestic Instant Payment Systems (IPS) to enable real-time, low-cost cross-border transactions. Its multilateral framework provides a single integration point for IPS to access a global network, streamlining international payments for participating systems.
Funding
Funding not disclosed
Founders
Product
Problem
Domestic instant payment systems (IPS) are efficient for intra-country transactions, but cross-border payments remain slow, costly, and complex. This fragmentation limits the speed and accessibility of international financial flows for individuals and businesses.
Solution
Nexus Global Payments (NGP) provides a multilateral payment scheme that connects domestic Instant Payment Systems (IPS) to enable secure, real-time cross-border transactions. By establishing a single integration point, NGP allows participating IPS to access a global network, thereby reducing the need for bespoke bilateral connections. This approach aims to enhance the speed, reduce the cost, and increase the accessibility of international payments, aligning with global targets for improving cross-border transaction efficiency. NGP is managed as a not-for-profit organization by its central bank partners.
Target Audience
The primary customers are domestic Instant Payment System operators and central banks seeking to expand their payment capabilities for international transactions.
Features
- Multilateral IPS connectivity framework for standardized cross-border transaction routing.
- Single integration point for domestic IPS to access a global network of participating systems.
- Facilitates near-instantaneous settlement of international payments.
- Designed to reduce transaction costs and increase accessibility for cross-border financial flows.
- Operates as a not-for-profit organization managed by its central bank partners.
- Supports the G20 Roadmap for Enhancing Cross-border Payments targets.