Tag: Euro Payments

February 26, 2024 BY Simon Mugo

EU Approves Instant Euro Payments To Compete With Visa, Mastercard

The groundbreaking regulation enables the swift transfer of funds denominated in euros, allowing transactions to be completed within a mere 10 seconds, irrespective of the time or whether it involves transfers within a single country or across EU member states. Traditionally, transaction processes through conventional card payments and banking deposits have been slow, often extending…

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June 22, 2017 BY admin

ECB developing retail service for instant settlement of euro payments

The new service, TARGET instant payment settlement (TIPS), will enable citizens and firms to transfer money between each other in real time and will be available around the clock, 365 days a year. The Governing Council of the European Central Bank (ECB) has decided to develop a new service for the settlement of instant payments.…

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