Nexus Overview

Nexus is a blueprint for instant cross-border payments

Around 60 countries now have instant payment systems, which allow payments between bank accounts in just seconds. Connecting them together through platform could enable cross-border payments that are faster, cheaper, easier to access and more transparent.
This BIS Innovation Hub project provides a blueprint for a scalable cross-border payments network, Nexus, that would connect IPSs in multiple countries, enabling them to offer cross-border payments that reach their destination within 60 seconds.
The BIS Innovation Hub is now developing a technical prototype of Nexus. We are working with the Monetary Authority of Singapore, Bank of Italy, Bank Negara Malaysia, BCS in Singapore and PayNet in Malaysia to connect the payment systems of Singapore, Malaysia and the euro area in an experimental proof-of-concept.
The project complements the ongoing work of the G20, FSB and CPMI to enhance cross-border payments.

3 Minute Overview

Read the Summary Report

The short report explains the benefits of linking IPSs to provide cross-border payments. It addresses the challenges that would need to be overcome and explains how a bridging platform like Nexus could streamline this process. It makes recommendations for IPSs that are upgrading or rebuilding their technology to allow for cross-border interoperability.

Technical Docs

This site contains detailed technical docs, covering:
  • the payment processes through Nexus, including message flows
  • the functionality required by IPS operators and their member banks and Payment Service Providers (PSPs)
  • API specifications for communication between IPSs.
The Nexus blueprint was developed and refined through 25 workshops with IPS operators, central banks and large banks with a significant presence in FX markets and cross-border payments. We welcome further feedback and suggestions to enhance the blueprint.
(Use of this website and the Nexus materials is subject to the terms and conditions.)