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TARGET Instant Payment Settlement

TIPS is Eurosystem’s TARGET Instant Payment Settlement service. It enables payment service providers to offer fund transfers to their customers in real time and around the clock, every day of the year, using instant payments.

This service was launched on 30 November 2018 and as of October 2020 it started to be used by the Portuguese community’s payment services providers. The service is compatible with the SEPA Instant Credit Transfer (SCT Inst) Rulebook and was developed as an extension of TARGET2; therefore settling payments in central bank money. 

TIPS currently only settles payment transfers in euro. However, the platform was developed to be multi-currency, that is, accounts in other currencies could be supported as well.



Transactions processed in TARGET Instant Payment Settlement

Information for professionals


For more information access Pricing.



The Eurosystem, in order to respond to the business needs of its stakeholders, seeks to continually improve the market infrastructures it provides. To this end, new versions of the systems - releases - are planned and implemented, which include technical/functional changes, the introduction of new features and/or the resolution of problems.

Information on future TIPS releases can be found in Future TIPS Releases. Releases already implemented can be consulted in TIPS Past Releases.