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TIPS software approved and ready for pilot testing
3 September 2018
TIPS, the new TARGET service for instant payment settlement across Europe, is another step closer to being operational. Internal tests of the software developed for TIPS have been completed successfully. Both application-to-application (A2A) and user-to-application (U2A) functionalities performed well in all test cases.
This means pilot testing could start according to plan, on 3 September 2018. A first group of payment service providers, which have expressed their interest in using TIPS for their instant payments business, are now testing the service.
The development and testing phases are taking place in line with the project plan and within the allocated budget. TIPS will go live on 30 November 2018.