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Synopsis With Nexus, it’ll be possible before hitting “Send” to establish if the payment will succeed. For instance, by validating that the recipient’s bank account is operational and checking for compliance with anti-money-laundering rules. The uncertainty associated with traditional one-way communication will become history. ThinkStock Photos In the age of smartphones, international wire transfers belong in money museums. In more than 60 countries, including many developing nations, it has become incredibly easy to send funds in real time to someone else over the internet knowing nothing more than their mobile phone number. However, 24/7 fast payment systems, a technology that’s starting to work pretty well for small-value transfers in domestic situations, have no counterpart when money has to jump over national borders.

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