Scope of Nexus payments

Nexus supports account-to-account payments between individuals (known as person-to-person (P2P) and consumer-to-consumer (C2C)) and businesses (B2B), or between individuals and businesses (P2B, B2P). These payments are initiated by the sender entering a proxy, such as a mobile number, or account details into the app of the Sender's PSP.

This guide does not yet cover payments that are initiated by scanning a QR code, including:

• proxy payments, where the proxy is embedded in a QR code

• “merchant payments”, eg payments from a customer to a retailer or other business, using dynamic QR codes at the point of sale (either physical or e-commerce).

These features will be added to Nexus in due course.

Nexus currently supports Single Instant Cross-Border Cross-Currency Payments:

“Single payment”

Nexus supports single payments only. A pacs.008 payment instruction message sent to Nexus must only contain a single transaction. Nexus will process each payment individually and PSPs will accept/reject each Nexus payment individually.

Nexus does not accept bulk/batch payment instructions. However, it is acceptable for a PSP to receive a bulk/batch payment file from its customers (or for an IPS to receive a bulk/batch payment file from its PSPs), “debulk” the file and submit the payments one-by-one as individual payments through Nexus. The Nexus Scheme Rulebook requirements will apply for these payments in full including requirements regarding transparency of fees, timelines and compliance checks. It will be the responsibility of the Source PSP (or IPS) to correlate the individual transactions (and their responses) back to the original batch/bulk file, if required.

“Instant”

Nexus processes instant payments. A domestic instant payment is defined as a payment executed end-to-end, where the funds being transferred from the account of a Sender are made available in the account of the Recipient, irrevocably, within seconds (typically within 20 seconds).

Nexus has the ability to support both time-critical and non-time-critical account-to-account payments:

• Time-critical payments include urgent payments and point-of-sale payments (eg where the Sender is standing at the till or sat in a taxi, waiting for a payment to complete before they can leave).

• Non-time critical payments are those payments where it is acceptable for the payment to be slightly delayed in the case that the alerts generated by compliance checks and sanctions screening cannot be resolved instantly.

Whether a payment is time-critical or non-time critical is defined in the pacs.008 payment message.

“Cross-Border, Cross-Currency” Nexus is designed for instant payments requiring a currency conversion, using an FX Provider. See FX Provision.

Nexus does not currently support payments to and from the same currency (even if they are in different countries)