equensWorldline has introduced its TIPS Gateway service, enabling banks to facilitate instant payments through a single interface.
The new service will support the equensWorldline Instant Payments CSM as well as its EACHA Instant Payments Interoperability links.
It will also support connection towards the TARGET2 Instant Settlement solution. Banks are expected to go live with the service next year.
equensWorldline CMO Alessandro Baroni said: “At equensWorldline, we believe the TIPS initiative is offering our clients a cost and liquidity efficient way of obtaining reach in Instant Payments across Europe.
“By combining this with Back-Office and Instant Payments CSM solutions, we are offering the best of both worlds. I am delighted to see our first clients signing up for our new service and look forward to further building on the future of Instant Payments.”
The latest move comes more than a year after equensWorldline’s announcement to connect its European and national instant payments clearing and settlement services to TIPS.
TIPS will offer transparency, with all transactions processed by equensWorldline visible in the equensWorldine GUI. The visibility will be maintained irrespective of the settlement route.
At the same time, banks can share the implementation investments and the operational expenses of the TIPS connectivity and the use of the Network Service Provider.