Marc Bayle de Jessé, European Central Bank (ECB)
Over ten companies will present their mobile apps for the initiation and processing of instant payments.
The SEPA Instant Credit Transfer (SCTinst) scheme was launched on 21 November 2017 and TARGET Instant Payment Settlement (TIPS) is set to go live in November 2018. Instant payment initiatives have been implemented in some European countries but a full roll-out across Europe is still pending. Are banks ready to offer instant payments to their customers? What is needed to speed up the process? What do end-users need? And can common payment initiation apps accelerate the process?
Javier Santamaría, European Payments Council
In some European countries instant payment initiatives have already been implemented. What are the experiences? What challenges had to be overcome?
The roll-out of instant payments also depends on the availability of a safe and efficient underlying market infrastructure that can process instant payments across Europe. How is the industry preparing for instant payments? What solutions will be offered to the end users?
Marc Bayle de Jessé, ECB
To register for the #TIPSapp event, please send an email to firstname.lastname@example.org, by 1 February 2018.
In November 2018 the Eurosystem will launch TARGET Instant Payment Settlement (TIPS), a new service for settling instant payments in euro. TIPS will be compliant with the SEPA Instant Credit Transfer (SCTInst) scheme developed by the European Payments Council to accommodate instant credit transfers across the Single Euro Payments Area. However, TIPS, or any other market infrastructure alone, will not be enough to ensure that the citizens of Europe start using instant payments. Apps that can easily initiate instant payments will also be needed.
To help create awareness about instant payments, the European Central Bank (ECB) invites all interested service providers to develop a solution for an app that can be used to initiate transactions for settlement. See below to find out how you can attend and potentially have the chance to present your end-user solution at a market event organised by the ECB.
|Who can participate?||All interested service providers.|
|How can I take part?||Send an email to TIPS@ecb.europa.eu, expressing your interest.|
|Closing date for expressions of interest||1 December 2017|
|When will I know if my participation is confirmed?||22 December 2017|
European Central Bank
|Date of event||
Tuesday, 6 February 2018
|What format will the event take?||The event will comprise a conference and a marketplace. You will have a stand at the marketplace where you can present your prototype and interact with all the conference participants. These will include banks operating in the European Union, national central banks, financial market infrastructure providers and industry associations. You are also welcome to attend the conference as a member of the audience.|
|What should be presented at the event?||You should present a prototype of an app solution that meets the TARGET Instant Payment Settlement user requirements.|
|What kind of facilities will be provided at the event?||
A dedicated area for presenting and discussing your prototype with market participants will be made available.
|Cost of participation||
There is no participation fee. The ECB will provide a light buffet lunch and refreshments to all participants. The ECB will not cover any travel costs incurred.