TARGET Instant Payment Settlement (TIPS) service, offered by the European Central Bank's (ECB) Eurosystem, enables payment service providers to offer fund transfers to their customers real time and around the clock, every day of the year. This allows individuals and firms to transfer money between them within seconds, irrespective of the opening hours of their local bank.
BankFlex® TIPS Gateway allows banks without TIPS capability provide a highly efficient instant payment settlement service to their customers. To facilitate this, BankFlex® interfaces with the bank’s core banking and ECB system directly or through an intermediary like RBI (Raiffeisen Bank International).
Supports both real-time and file transfer interfaces with Eurosystem.
Fully supports message queuing using MQ Series.
Supports SEPA payment capability using all ISO20022 protocols.
Helps support all use cases from ordering payment to receiving payment, recall payment and status investigation.
Highly performant system with transaction processing time is around 2 seconds.
Multi-threaded architecture to seamlessly support a large load of payments.
Highly secure with PGP Encryption and Digital Signature Security.
All interactions with participating systems are fully audited.
To know more about our BankFlex® Target Instant Payment Settlement (TIPS) service. Request a call back today Contact Us