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Hopefully ECB’s TARGET Instant Payment Settlement (TIPS) service will enable the same widespread adoption. With a price of 0.002 euro per transaction it’s guara

Hopefully ECB’s TARGET Instant Payment Settlement (TIPS) service will enable the same widespread adoption. With a price of 0.002 euro per transaction it’s guaranteed to become the most convenient solution.

panick21_ 2y ago
Doesn't pretty much every country in Europe already have such a service?
- wuming2 2y ago
  They are mostly based on previous generations SEPA DD and CT. Italy’s Satispay as example. ECB TIPS further improves on that.
Maken 2y ago
This seems to be more akin to Wero, the German-French system to replace both debit cards and online payment platforms.
- wuming2 2y ago
  I don’t speak French but BdF presents a side by side comparison: https://www.banque-france.fr/fr/a-votre-service/particuliers/mieux-connaitre-moyens-paiement/wero https://www.banque-france.fr/fr/a-votre-service/particuliers... As far as I understand SEPA ICT was developed by the Euro Payment Council. An industry body. ECB TIPS, albeit maintaining compatibility with the scheme, provides an harmonised service across the entire Eurosystem and beyond.
  - ta12653421 2y ago
    > entire Eurosystem and beyond mmh, not really - banks who are connected to the Euro-Zone can use it, but it has not a "beyond-EU"-ambition. TIPS is just one of the two clearing-mechanisms, there is also RT1 (which is operated by a private entity and launchend long before TIPS came into place, TIPS is operated by each countries national bank in coop with ECB), since some time, there is interoperability, so you can transact from TIPS-connected entities to RT1-connected entities; RT1 is much more expensive than TIPS
    - wuming2 2y ago
      My understanding is EBA’s RT1 is enabled by SEPA Instant CT. Itself an industry lead initiative under ECB oversight. ECB is tiding things up with TIPS by evolving the specifications and also providing the service directly in central bank money. At a much lower price. TIPS represented more than 50% of all TARGET number of payments at the end of 2024: https://www.ecb.europa.eu/stats/payment_statistics/large_value_payment_systems/html/24_table1.en.html https://www.ecb.europa.eu/stats/payment_statistics/large_val... Beyond TARGET, ECB noted repeatedly the reliance on international card schemes for electronic payments and card transactions in the EU. The latest report restating that accounted for approximately 61% of euro area card transactions in 2022: https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250228_1~7f0697af45.en.html https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr2502...

panick21_ 2y ago

Doesn't pretty much every country in Europe already have such a service?

wuming2 2y ago
They are mostly based on previous generations SEPA DD and CT. Italy’s Satispay as example. ECB TIPS further improves on that.

Maken 2y ago

This seems to be more akin to Wero, the German-French system to replace both debit cards and online payment platforms.

wuming2 2y ago
I don’t speak French but BdF presents a side by side comparison: https://www.banque-france.fr/fr/a-votre-service/particuliers/mieux-connaitre-moyens-paiement/wero https://www.banque-france.fr/fr/a-votre-service/particuliers... As far as I understand SEPA ICT was developed by the Euro Payment Council. An industry body. ECB TIPS, albeit maintaining compatibility with the scheme, provides an harmonised service across the entire Eurosystem and beyond.
- ta12653421 2y ago
  > entire Eurosystem and beyond mmh, not really - banks who are connected to the Euro-Zone can use it, but it has not a "beyond-EU"-ambition. TIPS is just one of the two clearing-mechanisms, there is also RT1 (which is operated by a private entity and launchend long before TIPS came into place, TIPS is operated by each countries national bank in coop with ECB), since some time, there is interoperability, so you can transact from TIPS-connected entities to RT1-connected entities; RT1 is much more expensive than TIPS
  - wuming2 2y ago
    My understanding is EBA’s RT1 is enabled by SEPA Instant CT. Itself an industry lead initiative under ECB oversight. ECB is tiding things up with TIPS by evolving the specifications and also providing the service directly in central bank money. At a much lower price. TIPS represented more than 50% of all TARGET number of payments at the end of 2024: https://www.ecb.europa.eu/stats/payment_statistics/large_value_payment_systems/html/24_table1.en.html https://www.ecb.europa.eu/stats/payment_statistics/large_val... Beyond TARGET, ECB noted repeatedly the reliance on international card schemes for electronic payments and card transactions in the EU. The latest report restating that accounted for approximately 61% of euro area card transactions in 2022: https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr250228_1~7f0697af45.en.html https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr2502...