27.08.2019
Tiina Soosalu Eesti Pank Payment and Settlement Systems Department

An average of 994,000 card payments were made with bank cards issued in Estonia in the second quarter, one quarter of them contactless payments. The spread of contactless payments has not led to any increase... more

01.07.2019

Approval of TARGET2- Eesti rules
Accession Agreement to TARGET2-Eesti
Accession Agreement to TARGET2-Eesti Using Internet-Based Access
TARGET2 core pricing schema
TARGET2 closing days
TARGET2-compensation scheme-claim form
Terms and Conditions for the Opening and... more

01.07.2019

Eesti Pank is responsible for promoting a secure and efficiently functioning payments market, which covers payment and settlement systems and methods of payment. How the payments market functions is important for

  • ensuring the stability of the economic and... more
19.06.2019

At the initiative of the working group set up at the Estonian Payments Forum, the banks will soon be bringing new payment services to market. In the working group are Eesti Pank, the largest commercial banks, merchants and consumer representatives. By the end of 2019 at the latest it will be... more

10.06.2019

The functioning of payment and settlement systems is important for maintaining the stability of the national economic and financial system, avoiding interruptions to the circulation of currency, and allowing monetary policy to be implemented smoothly. Private individuals, businesses and public... more

10.06.2019

The three settlement services of the European System of Central Banks, TARGET2, TIPS and T2S, were brought together in 2018 under the single name TARGET Services. TARGET services are the financial infrastructure services developed and managed by the Eurosystem that allow pan-European money and... more

10.06.2019

TIPS is the Eurosystem TARGET service for settling instant payments in accounts opened at the central bank. TIPS allows payment orders to be sent and received between instant payment systems so that SEPA instant payments are available throughout the euro area. It brings together the best... more

10.06.2019

RT1 is a pan-European SEPA instant payment system. It is a privately financed system that started work in November 2017. The system owner and operator is EBA Clearing, a company owned by the banks that provide pan-European retail payment infrastructure.

RT1 works in real time around the... more

30.05.2019

STEP2 is a pan-European automated clearing house. It started operating in April 2003 and was the first, and so far only, such system. The system owner and operator is EBA Clearing, a company owned by the banks that provides pan-European payment infrastructure.

STEP2 is a multilateral... more

30.05.2019

Oversight is a function of Eesti Pank under the Eesti Pank Act. In its oversight, Eesti Pank analyses the construction and functioning of payment and settlement systems, identifies risks to the systems, recommends ways to minimise risks, and monitors compliance with those recommendations.... more

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