The Central Bank of Montenegro published remarks by Governor Irena Radovic from the Annual Vienna Initiative Full Forum in Brussels, highlighting Montenegro’s upcoming entry into the Single Euro Payments Area and the central bank’s plans for a national instant payment system aligned with European infrastructure. Radovic said that from 7 October all 11 commercial banks operating in Montenegro will offer SEPA services, enabling faster, safer and lower-cost cross-border transfers with EU countries and other SEPA members. She also set out plans, in partnership with Banca d’Italia under the auspices of the European Central Bank, to launch a national instant payment system based on the TARGET Instant Payment Settlement model, described as a TIPS clone, in July 2026 and stated this is expected to be fully interoperable with European standards and deliver savings of several tens of millions of EUR per year while supporting digitisation and financial inclusion. Next milestones cited were the start of SEPA services on 7 October and the planned July 2026 launch of the TIPS-based instant payment system.
Central Bank of Montenegro 2025-10-01
Central Bank of Montenegro outlines SEPA service launch across all 11 banks and July 2026 plan for a TIPS-based instant payment system
The Central Bank of Montenegro announced Montenegro's entry into the Single Euro Payments Area (SEPA) on 7 October, enabling faster and lower-cost cross-border transfers. Governor Irena Radovic outlined plans to launch a national instant payment system in July 2026, in collaboration with Banca d’Italia and the European Central Bank, expected to save tens of millions of EUR annually and support digitisation and financial inclusion.