In 2017, the SCTInst (SEPA Credit Transfer Instant) Rulebook of the European Payments Council (EPC) came into force. The aim is to be able to process SEPA-based, classic payment transactions in real time 24/7. To this end, the ECB announced in 2017 the development of the real-time settlement system “TIPS” or “Target Instant Payment Settlement” in order to be able to process SCTInst transactions.
A prerequisite for participating in TIPS is connection to the system via a highly secure line certified by the ECB.
PSA has already created such a high-quality connection to the TIPS system and offers banks access to the TIPS system as a “full service” solution.
The advantages of the certified TIPS connection for banks are:
PSA guarantees experience in handling multi-partner ecosystems