Natixis Payments has collaborated with SWIFT to offer connectivity to TARGET Instant Payment Settlement (TIPS), real-time payments service within the Single European Payments Area (SEPA).

TIPS is an upcoming real-time payments service by Eurosystem, the monetary authority of the eurozone.

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The collaboration will offer all Natixis Payments customers direct access to TIPS with SWIFTNet Instant to carry out instant payments throughout SEPA.

Natixis Payments deputy CEO and head of financial institutions & processing Jean-Luc Thérond said: “Natixis is a frontrunner on Instant Payments in France and it is our ambition to also be an instant payments leader across the SEPA area. So, to be one of the first banks ready to use TIPS was an obvious step for us.

“Direct access to TIPS with SWIFTNet Instant makes the most sense for us because it enables us to leverage our current SWIFT Infrastructure, work with a trusted partner who knows our business, and offer our clients a better Instant Payments experience every day.”

SWIFTNet Instant, set to be launched in November this year, will enable instant payments across Europe by utilising TIPS and EBA CLEARING’s RT1 instant payments system.

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SWIFT chief executive for Europe, Middle East & Africa Alain Raes said: “We are delighted that Natixis Payments has chosen SWIFT to connect to TIPS.

“Our solution is designed to meet the current and future messaging needs of our customers and we look forward to working with them as they embark on the path towards ESMIG.”

SWIFT connects around 11,000 banking and securities organisations, market infrastructures and corporate customers across 200 countries and territories.

Last month, the company started testing new real-time cross-border payments in Asia Pacific region.