Key Points

This section describes:

• how Nexus payments can be addressed using any details that are valid in the Destination Country, including proxies/aliases, International Bank Account Numbers (IBAN) or Account Identifiers.

• how a Proxy Directory Operator (PDO) should onboard with Nexus, and the information it needs to provide about the proxy types available in that country

• how a Source PSP should set up proxy or account resolution requests

• how a PDO should process and respond to proxy resolution requests

• how a Destination PSP should respond to account resolution requests

60-Second Summary

• Addressing: Nexus payments can be addressed using the same details that are valid for domestic payments, including:

  • IBAN (depending on the country)

  • Account Identifiers in conjunction with a Financial Institution Identification (either a BIC or a non-BIC Clearing System Member Identification, such as a routing number)

  • Proxies (also known as aliases) such as mobile numbers, email addresses or company registration numbers (depending on the country)

• Address Options & Address Inputs: A Source PSP (ie the sender’s PSP) can use the Nexus APIs to find out which address options (including proxies) are available in each country. Once the Sender has selected the Destination Country, the PSP’s app can call the relevant Nexus API and use the data returned to dynamically generate the addressing form in the app.

• Proxy resolution: Nexus connects to proxy directories in each country in the network. When a Sender provides a proxy (eg mobile number) for the Recipient, this will be sent through Nexus to the relevant proxy directory in the Recipient’s country. The proxy directory will reply with the Account Identification (account number) and Financial Institution Identification of the Recipient’s account.

• Account resolution: Nexus will also try to contact the Destination PSP (ie the recipient’s PSP) to request further information about the Recipient. The Destination PSP can choose whether or not to share any further information. Any information shared can increase the chances that sanctions screening and other compliance checks will pass without requiring manual intervention.

• Onboarding and setup: The Proxy Directory Operator (or IPSO, if the IPSO also operates the proxy directory) must inform Nexus of the address types available in its country when it first onboards to Nexus. It can do so through the Nexus Service Desk or through Nexus APIs.

• ISO 20022 and message translation: Nexus uses ISO 20022 messages (specifically acmt.023 and acmt.024) for proxy and account resolution requests and responses. Where an IPS or its member PSPs do not support these messages domestically, the IPSO is responsible for translating the domestic message to the Nexus standard and vice versa.

• Local implementation: In most countries, some changes may be needed to the domestic message format and the way that PSPs set up proxy resolution or account resolution requests.