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MARCH 16 2021
Tags: capital markets, payment networks

Instant Payments: the TIPS reachability deadline is fast approaching

Time is running out. All banks today offering instant payments (SCT INST) and reachable in TARGET2, must become reachable in TIPS before the end of the year. The ECB has defined three options for European Instant Payment interoperability and whichever model Banks choose, TAS is able to accelerate and ease the process and boost compliance efficiency.

Further highlighting a commitment to the goal of increased interoperability, reachability and take up of Instant Payments in Europe, the European Commission has launched an assessment on the need for an EU-wide instant payments scheme. The initiative will investigate whether: new legislation is needed, non-legislative measures would be appropriate, or other policy options are suitable. The deadline for submitting feedback is midnight (CET) on 7 April 2021. Click here to have your say.

Find out which option is best for you to be reachable in TIPS and contact us for a free consultancy.