TIPS (Target Instant Payment Settlement)

Payment system type

Interbank payment system

Status of implementation

Active

Operator

Central Bank

National or Regional

Regional

Annual value of transactions (USD)

NA

Annual volume of transactions

NA

Cost of transactions

NA

Participants

2024- 2321 (including non-Euro members)

Types of transactions supported

P2P, P2M, B2B

Type of settlement system

RTGS

URL

https://www.ecb.europa.eu

Last Updated

01/10/24

Active real-time payment system

YES

Cross-border payments

YES

QR code transactions

NA

Bank participation

YES

Non-bank participation

YES

Interoperability policy

YES

Participation rules

YES

Data-handling rules

YES

Reporting forum

NA

AML Law

NA