ACI Worldwide has announced support for the pan-European TARGET Instant Payment Settlement (TIPS) scheme. Available as part of its UP Real-Time Payments Solution, ACI enables financial institutions of all sizes to rapidly offer TIPS pan-European instant payments services, with minimal cost, disruption and fast time to market. Offered as a cloud-service or on premise, the new solution capabilities are designed to scale up and can be quickly modified to suit the requirements of any other domestic or pan-European instant payments scheme.
TIPS is scheduled to go live on November 30, 2018 and will enable payment service providers to offer fund transfers in real time and around the clock, 365 days a year. TIPS participants will enjoy instant settlement in central bank money, pan-European reachability as well as optimised liquidity.