Automated clearing houses connect to TIPS
The first ACHs have successfully moved their technical accounts from TARGET2 to the TIPS systemA first group of automated clearing houses (ACHs) have successfully moved their technical accounts from TARGET2 to the TARGET Instant Payment Settlement (TIPS) system. The ACHs that have now migrated to TIPS are: Iberpay, Spain; EBA Clearing; DIAS, Greece; EKS, Latvia; CENTRO, Lithuania; STET, France.
Payment service providers (PSPs) that use these ACHs can adjust the balance (funding and defunding) of their technical accounts at their ACH and start sending and receiving instant payments via TIPS.
Please find further information here.