In fact, TIPS was developed with the aim of fostering the integration of retail payment services and of eliminating barriers due to a lack of interoperability between different settlement platforms based on the SEPA Instant Credit Transfer (SCT Inst) Scheme – i.e.
the standard TIPS (TARGET Instant Payment Settlement) – the new Eurosystem market infrastructure service: Banca d’Italia as service provider and manager of the business relationships with the financial community Welcoming remarks by Piero Cipollone Deputy Governor of the Bank of Italy TIPS Webinar Bank of Italy 12–13 July 20212 for pan-European instant payments developed by the European Payments Council at the request of the Euro Retail Payments Board.