Natixis first French bank to connect to TIPS

Wednesday 28 November 2018 14:13 CET | News

FIS has enabled Natixis Payments to connect to the European Target Instant Payment Settlement (TIPS) scheme.

This makes Natixis Payments the first French bank to join the new messaging service. This follows on from September 2018, when Natixis selected Swift to provide connectivity to TIPS within the Single European Payments Area (SEPA).

An initiative of the European Central Bank (ECB), TIPS provides instant payments processing and settlement across the 34 countries. The new scheme aims to process and settle payments “within seconds” for person-to-person, person-to-business, and business-to-business transactions.

Natixis Payments, part of Groupe BPCE, is a long-time customer of FIS. The bank worked with FIS earlier in 2018 to provide instant payments within its intra-group network and to connect to the real-time payments clearing and payment system operated by European infrastructure provider STET.

FIS has also partnered with clients to deliver projects supporting The Clearing House in the US, the Faster Payments scheme in the UK, Australia’s New Payments Platform, and Singapore’s Fast and Secure Transfers (FAST) system.

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Keywords: Natixis Payments, tips, FIS, payments , France
Countries: World