Nexus appoints PayNet and NETS joint venture
09 February 2026 Singapore
Image: Abu/stock.adobe.com
Nexus Global Payments has appointed a joint venture between Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) as the Nexus Technical Operator (NTO).
The firms say that the appointment follows a process involving international bidders and the development of NTO aims to enable interoperability between domestic instant payment systems.
The selection process assessed bidders on technical capability, operational resilience, cost efficiency and alignment with Nexus’ interoperability objectives.
The PayNet–NETS joint venture was selected based on the operational experience of the two Association of Southeast Asian Nations (ASEAN) payment networks and their approach to collaboration and technology delivery.
As NTO, the joint venture will work with Amazon Web Services (AWS) and Endava on the technical design and development of the Nexus platform.
AWS will provide cloud infrastructure, while Endava will lead system design and engineering.
The NTO will be responsible for building, operating and maintaining the Nexus infrastructure, ensuring compliance with global standards, and delivering cybersecurity and operational resilience.
The NTO will also coordinate the onboarding of operators of domestic instant payment schemes connecting to Nexus, enabling banks and non-bank participants within those systems to access the network.
Andrew McCormack, CEO at NGP, says: “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.
“Nexus is shaping a future where cross-border payments are instant, accessible, and seamlessly connected.”
Praveen Rajan, CEO of PayNet, adds: “Being selected as the Nexus Technical Operator alongside NETS is a significant honour for Malaysia. It reflects the trust in our domestic capabilities and our 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. We’re proud to be part of this next chapter in building a more connected, inclusive, and seamless global payment ecosystem.”
Lawrence Chan, group CEO at NETS, comments: “We are deeply honored to be selected as the Nexus Technical Operator, in partnership with PayNet. This appointment reflects a strong vote of confidence in our 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.”
The firms say that the appointment follows a process involving international bidders and the development of NTO aims to enable interoperability between domestic instant payment systems.
The selection process assessed bidders on technical capability, operational resilience, cost efficiency and alignment with Nexus’ interoperability objectives.
The PayNet–NETS joint venture was selected based on the operational experience of the two Association of Southeast Asian Nations (ASEAN) payment networks and their approach to collaboration and technology delivery.
As NTO, the joint venture will work with Amazon Web Services (AWS) and Endava on the technical design and development of the Nexus platform.
AWS will provide cloud infrastructure, while Endava will lead system design and engineering.
The NTO will be responsible for building, operating and maintaining the Nexus infrastructure, ensuring compliance with global standards, and delivering cybersecurity and operational resilience.
The NTO will also coordinate the onboarding of operators of domestic instant payment schemes connecting to Nexus, enabling banks and non-bank participants within those systems to access the network.
Andrew McCormack, CEO at NGP, says: “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.
“Nexus is shaping a future where cross-border payments are instant, accessible, and seamlessly connected.”
Praveen Rajan, CEO of PayNet, adds: “Being selected as the Nexus Technical Operator alongside NETS is a significant honour for Malaysia. It reflects the trust in our domestic capabilities and our 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. We’re proud to be part of this next chapter in building a more connected, inclusive, and seamless global payment ecosystem.”
Lawrence Chan, group CEO at NETS, comments: “We are deeply honored to be selected as the Nexus Technical Operator, in partnership with PayNet. This appointment reflects a strong vote of confidence in our 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.”
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