ECB moves to link Tips with India’s UPI and Nexus
Connection with Nexus still hinges on ECB exploring potential ‘feasibility’
The European Central Bank announced today (November 20) that it was moving to the “realisation phase” of connecting its Target instant payments settlement (Tips) system with India’s Unified Payments Infrastructure, after reporting “positive findings” over the past year.
The ECB said the decision was “part of the Eurosystem’s overall efforts to make it easier for businesses and consumers in Europe to send and receive payments to and from other countries, including remittances”.
India received a
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