Estonian companies and residents made an average of 462,000 payments a day in August, and 90% of them reached the payee in just a few seconds. All payments made in Estonia within one bank and 61% of interbank... more
Payment services and card payments are vital services. Banks must keep vital services operating even if people are not able to live their normal lives. So far they have functioned without incident.
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
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