TARGET Instant Payment Settlement: The Eurosystem’s response to an evolving payments landscape

Marc Bayle De Jessé

Journal of Payments Strategy & Systems, 2018, vol. 12, issue 4, 322-327

Abstract: This paper deals with the TARGET Instant Payment Settlement (TIPS) service, a Eurosystem market infrastructure service that facilitates the immediate settlement of instant payments at pan-European level using central bank money. The service stands to regenerate competitiveness in the European market by acting as an incentive for payment service providers to develop TIPS-enabled innovative and user-friendly solutions for European citizens. The paper recommends that payment service providers embrace TIPS and develop solutions that are not only future-proof but that also allow consumers to use them at pan-European level.

Keywords: instant payments; innovation; Eurosystem; European Central Bank (ECB); TARGET Services; TARGET Instant Payment Settlement (TIPS) (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2018:v:12:i:4:p:322-327

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