Nexus pacs.008

The ISO 20022 pacs.008 used in Nexus contains all the information required to process a Nexus payment across two countries. By necessity, it contains more information than would be required for a domestic payment.

The Nexus pacs.008 will flow from the Source PSP to the Destination PSP, with minor transformation by Nexus in the middle.

Translation to/from domestic formats

An IPS may choose to translate the ISO 20022 (Nexus) messages to an alternative domestic message format. For example, some IPSs still operate using the older ISO 8583 standard. In this case, the IPS is responsible for:

  • Defining the translation map between the Nexus messages and the domestic messages

  • Translating messages to and from the Nexus standard

  • Ensuring that the translation to a domestic format does not lead to the loss or corruption of any of the essential data required for cross-border payments (particularly data required to support sanctions screening).

Key building blocks of the Nexus pacs.008

The key blocks of the Nexus pacs.008 message include:

  • Debtor – personal data about the Sender

  • Debtor agent – the details of the Source PSP

  • Creditor – personal data about the Recipient

  • Creditor Agent – the details of the Destination PSP

  • Interbank Settlement Amount – the Source Currency Amount (Nexus will calculate the Destination Amount based on the FX quote ID that the PSP provide below)

  • Intermediary Agent 1 (FXP‘s Settlement Account Provider, and the FXP’s account at the SAP, in Source country)

  • Intermediary Agent 2 (FXP’s Settlement Account Provider, and the FXP’s account at the SAP, in Destination Country)

  • Additional Remittance Information, which is where the FX Quote Id will be recorded (as there is no dedicated element for this information in the current pacs.008 specification)

Intermediary Agents can be retrieved using the Intermediary Agents API with the ID of the preferred quote.

Detailed specification

Detailed usage guidelines for the pacs.008 will be shared here over the next few months.

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