Improving rates for specific PSPs
This page relates only to third-party FX Providers.
For Source PSPs that provide their own FX, a different process applies. See Payment setup for PSPs who provide their own FXfor details.
PSP-based improvements
FX Providers may also want to offer improved rates to specific PSPs. In Nexus this works as follows:
An FXP may define the PSPs to which it wishes to offer improved rates
For each PSP, the FXP may define how much the base rate must be improved, in basis points.
This improvements applies to all quotes issued to that PSP by the FXP, for all currencies.
It is not possible for an FXP to set different PSP-based improvements for different currencies.
When a Source PSP calls the
GET /quotesAPI, Nexus will review the table of relationships between FXPs and PSPs, and extract any relevant preferential rates for that PSP.Nexus will then apply the relevant improvement to the FXP's base rate.
An FXP may choose not to set any PSP-based improvements. If no PSP-based improvement is set for a specific PSP, the base rate will apply.
PSP-based improvements only need to be set once by the FXP, and will continue to apply for that FXP until the FXP updates or deletes the tiers.
TABLE: Example PSP-based improvements
FXP Id
PSP Id
IMPROVEMENT in basis points (applied to the base rate in the FXP’s quote)
FXP-A
PSP-C
25
FXP-A
PSP-D
50
FXP-B
PSP-D
30
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