Nexus Global Payments appoints first Board Chair and expands network with the addition of Indonesia

Nexus Global Payments (NGP) announced Monday a series of significant governance and network expansion milestones, reinforcing its commitment to advancing seamless, interoperable cross border payment. The firm said in a statement that as part of its ongoing efforts to strengthen governance, NGP has appointed José Beltrán as its first independent Board Chair. Beltrán brings extensive payments and leadership experience from the European payments market as Program Director for the development of EBA Clearing’s Pan European system STEP2 and active participant in the development of the EPC’s SEPA Rule Books. Beltrán was also President of EACHA (European Automated Clearing House Association) and Board member of the European Card Stakeholder Group. His strategic vision, stakeholder diplomacy, and operational expertise will guide NGP as it continues to build a trusted, collaborative global payments network. “I am honored to be appointed Board Chair of Nexus Global Payments and look forward to working closely with my fellow directors and the executive team to deliver NGP’s new and innovative globally important payments infrastructure and network, a very important step towards achieving global instant payments’ interoperability built on strong a governance, open to market evolution and fostering progressive growth,” said José Beltrán. Meanwhile, momentum continues in the expansion of the Nexus with the NGP’s five founding central banks — Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Bank of Thailand, and Monetary Authority of Singapore —welcoming the full participation of Bank Indonesia. Previously participating as a Special Observer, Bank Indonesia will now move forward with work to connect its national instant payment system to Nexus. According to the statement, Indonesia’s inclusion is particularly significant given its position as one of the world’s largest remittance corridors, both as a major source of migrant workers and a recipient of overseas remittances. The European Central Bank (ECB), also a Special Observer, confirmed its Governing Council’s decision to “continue the work on the feasibility of a potential connection to Nexus Global Payments while in parallel completing the necessary legal arrangements and agreements.” In parallel, NGP continues to engage actively with other interested jurisdictions. Most recently, NGP signed a Memorandum of Understanding with the Latin American Reserve Fund (FLAR), a regional financing arrangement for Latin America, to facilitate exploratory work for future connectivity with FLAR member countries. “We are pleased to welcome José Beltrán as our inaugural Board Chair, whose experience and leadership will be instrumental as we move into our next phase of growth. The addition of Indonesia in our network, alongside ECB’s continued feasibility work and FLAR’s decision to formalize cooperation, reflects the growing momentum and confidence in Nexus,” said Andrew McCormack, Chief Executive Officer of NGP. “Together, these developments are laying the foundations for a more connected, efficient and inclusive international payments ecosystem—one that supports public policy objectives and advances the G20’s cross-border payments agenda,” he added. Project Nexus partners incorporate Nexus Global Payments to run the cross-border payment scheme