Lawrence Chan brings close to 30 years of deep and diversified experience to his position as Group CEO of NETS.
He is responsible for the companies in NETS Group, positioning the organisation as the industry operator, builder of payment infrastructure and winning the hearts and minds of consumers and merchants. In line with the organisation’s purpose statement – Connecting Communities, Empowering Lives, Lawrence has successfully increased digital payment adoption through NETS wide merchant network domestically and enabled cross-border payments where connectivity with overseas payments rails have been established.
Prior to joining NETS, he served as Vice President – Regional Client Management, Asia Pacific for Visa. He also previously held leadership positions at PayPal which include serving as Vice President and General Manager for Japan and Southeast Asia and a Director on the Board of PayPal Pte Ltd until 2015. Prior to that, he was based in Japan for four years, where he led the American Express’s Merchant business before returning to Singapore and assuming the position of Senior Vice President, Global Payment Options, Asia Pacific.
Lawrence currently serves on the Payment sub-committee at the Singapore FinTech Association and as a Fellow at Singapore University of Social Sciences, where he provides advice and serves as a resource in the university’s FinTech teaching and research activities.
Roundtable Room 1 (Level 2)
Decoding Digital Assets and Payments
This roundtable reflects Elevandi’s commitment to developing the infrastructure to support the adoption of new technologies.
The quest for cheaper, faster, more transparent and accessible cross-border payments has become a central focus for policymakers and financial institutions worldwide. At the forefront of this initiative is the G20 Roadmap for Enhancing Cross-border Payments, setting ambitious targets on speed, cost, transparency and accessibility by the end of 2027, while also prioritising safety and financial inclusion globally.
In tandem with this global effort, the Bank for International Settlements (BIS) introduced Project Nexus in 2021, an innovative initiative aimed at reshaping the landscape of cross-border payments. Through Nexus, the BIS has developed a multilateral and standardised approach in connecting fast payment systems globally to enable instant and seamless cross-border payments. Over the past two years, Project Nexus has conducted a successful proof-of-concept with the fast payment systems in the Eurozone, Malaysia, and Singapore. Notably, it has also facilitated collaboration among five Southeast Asian countries to link their fast payment systems.
With the completion of Phase III of Project Nexus, it promises to reveal ground-breaking advancements towards establishing a global multilateral payments platform. Under the theme of Decoding Digital Assets and Payments, this upcoming roundtable presents a rare opportunity for attendees to gain insights into the blueprint for this pioneering cross-border payments model. With the potential to revolutionise the current state of the global financial market infrastructure, Project Nexus is poised to redefine the future of cross-border transactions.
Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Nexus project page
- Latest (2024) Nexus report
- Enabling & scaling instant cross-border payments
- Connecting to global scalability in payments: How we can benefit and contribute to the nexus
- Nexus: enabling instant cross-border payments