The 28th of August 2018 marks one year since Latvijas Banka became the first euro area central bank to introduce the instant payments infrastructure based on SEPA Inst. scheme. This is an infrastructure for commercial banks and other payment service providers, which have the task of providing this service to their customers.
The Eurosystem will launch the TARGET Instant Payment Settlement (TIPS) service on the 30th of November 2018, enabling payment service providers to offer fund transfers in real time and around the clock, 365 days a year in secure central bank money. At the same time today’s conference is about much more than instant payments.