With the equensWorldline TIPS Gateway service, banks have the benefit of a single interface for instant payments for both the equensWorldline Instant Payments CSM and its EACHA Instant Payments Interoperability links, as well as for their connection towards the TARGET2 instant settlement solution offered by the Eurosystem.
In June 2017, equensWorldline announced that it would support TIPS by connecting its European and national instant payments clearing and settlement services to TIPS from the first day TIPS would be operational. TIPS is the Target Instant Payment Settlement initiative of the Eurosystem. The TIPS go-live date is expected end November 2019.
Using the equensWorldline TIPS Gateway service, the contracted banks complement their reach in instant payments and have full pan European reach in accordance with EPC SCT Inst Scheme Rulebooks. The connection towards TIPS will be transparent for the users, and all transactions processed by equensWorldline will be visible in the equensWorldine GUI, independent of the settlement route taken. This allows the banks operation departments to follow up on customer queries.
In addition, the banks will be able to share the implementation investments and the running costs of the TIPS connectivity and the use of the Network Service Provider. This service is available to Participants of the equensWorldline Instant Payments CSM, equensWorldline Back-Office clients as well as to other banks wishing to connect to TIPS in a cost-efficient way.
For more information about Worldline, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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