Role of the IPSO
The Instant Payment System Operator (IPSO) is responsible for:
- processing Nexus payments between their member Payment Service Providers (PSPs) and Settlement Account Providers (SAPs).
- managing the onboarding of PSPs and SAPs to Nexus
- operating a local instance of the Nexus Gateway software, which handles cross-border coordination of payments between two Instant Payment Systems (IPSs)
- keeping the reference data in the Nexus Gateway up to date