BIS Innovation Hub
Nexus - Short ReportAbout the BIS Innovation Hub
  • Introduction
    • Nexus Overview
    • How to use this site
    • Overview Report
    • Terminology
  • Payment Setup
    • Key Points
    • Scope of Nexus payments
    • Steps 1-2: Country, Currency & Amount
    • Steps 3-6: Exchange Rates
    • Steps 7-9: Addressing, Proxy Resolution & Confirmation of Payee
    • Steps 10-11: Sanctions screening
    • Step 12: Ask the Sender for approval
    • Step 13-16: Set up and send the payment instruction
    • Step 17: Accept the confirmation and notify Sender
  • Addressing & Proxy Resolution
    • Key Points
    • Overview of Payment Addressing in Nexus
      • Addressing via Proxies (Aliases)
      • Addressing via Account Details
    • Address Types & Inputs
      • Address Types
      • Address Inputs
      • Financial Institution Identification
      • List of PSPs
      • Examples
    • Proxy & Account Resolution Process
      • Step 1: Sender inputs proxy or account details
      • Step 2: Proxy Resolution Messaging Sequence
      • Step 3: Account Resolution Messaging Sequence
      • Step 4: Source PSP processes the results
      • Masking of Display Names
    • Role of the Proxy Directory Operator (PDO)
      • Obligations on the Proxy Directory Operator
      • Obligations of PSPs using the Proxy Directory
      • Onboarding a Proxy Directory Operator onto Nexus
  • FX Provision
    • Key Points
    • Role of the FX Provider
    • How Third-Party FX provision works in Nexus
    • Joining Nexus as a third-party FXP
    • Accessing Instant Payment Systems
    • Onboarding PSPs
    • Obligations & Compliance
    • Revenue model for FXPs
    • Rates from Third-Party FX Providers
      • Improving rates for larger transactions
      • Improving rates for specific PSPs
    • Quotes
    • Managing Liquidity
  • Payment Processing
    • Key Points
    • Accounts & Relationships
    • Maximum value of a Nexus payment
    • Payment Flow (Happy Path)
      • Detailed Flow in Source Country (Sending)
      • Detailed Flow in Destination Country (Receiving)
      • Booking flow for Source PSPs
      • Notifying FXPs of completed payments
    • Validations, Duplicates & Fraud
    • Time critical vs non-time critical payments
    • Special Scenarios
    • Payment setup for PSPs who provide their own FX
    • Unsuccessful Payments (Exceptions)
      • Rejects
      • Recall Requests
      • Returns
      • Investigation & Enquiry
      • Disputes
      • Reconciliation reports
    • Fees
    • Role and responsibilities of the Instant Payment System Operator (IPSO)
    • Ensuring settlement certainty
    • Annex: 4-step vs 5-step Processes in Domestic Clearing and Settlement
    • Annex: Sponsoring PSPs and Sponsored Entities
  • Settlement Access Provision
    • Key Points
    • Role of the Settlement Access Provider (SAP)
    • Joining Nexus as an SAP
    • SAP onboarding of FXPs (or foreign PSPs)
    • Costs and Revenue for SAPs
    • Obligations on the SAP
    • Processing payments as an SAP
      • Payment Process for the Source SAP
      • Payment Process for the Destination SAP
      • How the Destination IPS initiates the payment via the Destination SAP
    • Managing Liquidity as an SAP
  • Messaging & Translation
    • Key Points
    • General Usage of ISO 20022
      • Adherence to CPMI Harmonised ISO 20022 Data Requirements
    • Compatibility with Instant Payments Plus (IP+)
    • Message transformation by Nexus
    • Specific Message Elements
    • Purpose Codes
    • Message Guidelines (Excel)
    • MESSAGE acmt.023 Identification Verification Request
    • MESSAGE acmt.024 Identification Verification Report
    • MESSAGE: pacs.008 FI to FI Customer Credit Transfer
      • pacs.008 Differences from CPMI Harmonisation Requirements
    • MESSAGE pacs.002 Payment Status Report
      • pacs.002 Differences from CPMI/CBPR+ Guidelines
    • MESSAGE: pacs.004 Payment Return (Not yet supported)
    • MESSAGE: camt.054 Bank to Customer Debit Credit Notification
    • Translation To/From Domestic Message Formats
    • Translating To/From ISO 20022 Codes
  • APIs
    • Overview
    • Countries
    • Currencies
    • Address Types and Inputs
    • Financial Institutions
    • Fees and Amounts
    • Intermediary Agents (SAPs)
    • Quotes
    • ISO 20022 Messages
  • About
    • Contact the Nexus Team
  • LEGAL
    • Terms and Conditions of Use
    • Privacy Notice
    • Cookies Notice
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  • Nexus Service Desk
  • Logging Disputes
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  1. Payment Processing
  2. Unsuccessful Payments (Exceptions)

Disputes

Nexus Service Desk

Nexus will provide a Service Desk which will contain a directory of every PSP in the Nexus network, along with the relevant operations, compliance and dispute officers for each PSP. The service desk will support the creation of tickets that can be assigned by one PSP to another PSP. This is a more reliable way of tracking and processing exceptions than manual communication channels such as email or telephone (although the directory will also contain contact details for the relevant officers).

Nominated staff of each PSP will be able to log into the Nexus Service Desk to register investigations, enquiries, recall requests and disputes. Once a case is created the service desk will automatically send a notification to the relevant officer at the relevant PSP.

In general, cases PSPs should work to resolve cases bilaterally, without involving the staff of the Nexus Scheme Organization. However, the NSO may monitor the average age and status of cases in the system and engage with PSPs who consistently fall below the expectations for responsiveness and resolution.

Logging Disputes

Disputes should be logged in the Nexus Service Desk. The timelines for resolving disputes are defined in the Nexus Scheme Rulebook. Disputes can be raised by both the Sender and the Recipient of a transaction.

There are currently no Nexus ISO 20022 messages defined to send automated disputes.

According to the Nexus Scheme Rulebook, some disputes may be escalated to the NSO. A PSP must request an escalation through the Service Desk.

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Last updated 8 months ago