The European Central Bank has invited payment service providers and automated clearing houses involved in cross-border retail payments to apply for a new Eurosystem market contact group on TARGET Instant Payment Settlement cross-border services. The group will provide the Market Infrastructure Board with industry feedback on the services’ business value, functional design, testing and operation. The initiative supports the Eurosystem’s work to connect TIPS with fast payment systems globally, which includes an assessment of a potential link with Brazil’s Pix system. Applicants will be assessed on their expertise, involvement in cross-border payment initiatives and current or planned participation in TIPS cross-border services. Applications are due by Nov. 15, 2026, and the first meeting is scheduled for the first quarter of 2027.
European Central Bank opens applications for TIPS cross-border market contact group
The European Central Bank has opened applications for a market contact group to advise on the design, testing and operation of TIPS cross-border services. Payment service providers and automated clearing houses may apply by Nov. 15, 2026, with the first meeting planned for the first quarter of 2027.