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“Automated clearing houses connect to TIPS”;
(Website ECB, 14 December 2021).

Another blockade cleared to make Instant Payments the standard payment method in Europe; the first ACHs are connected to TIPS. There is no longer any reason to consider Instant Payment not as a regular payment method in those countries.

It certainly can’t be on the transaction costs. ACHs already process transactions for cents or fractions of it and the ECB only charges € 0.0005 for processing and settlement. Banks must now be able to introduce attractive and profitable payment solutions that are also interesting for all customers. Especially retailers can profit from developments based on Instant Payment in favor of the current debit and credit card solutions. And what about iDeal in combination with Instant Payment?

And if banks don’t take it up, it is only logical that the EU comes up with regulations.

Read the article on the website of the ECB

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