MIP News

TIPS welcomes new participants

11 September 2019

Banco Mediolanum and Istituto Centrale delle Banche Popolari Italiane have joined the TARGET Instant Payment Settlement (TIPS) service, which allows real-time payments to be made within seconds.

One of the benefits offered by TIPS is its full European reach, meaning that participants on the platform can perform transactions both with other participants and with reachable parties. Reachable parties are payment service providers that either cannot or have chosen not to open an account in TIPS but have entered into a contractual agreement with a participant.

For a full list of participants and reachable parties in TIPS see here.