‘Tips clone’ developed by Bank of Italy goes live in Balkans
Bosnia and Herzegovina and Montenegro become first jurisdictions connected by payments system
An instant payments system developed by the Bank of Italy has begun processing transactions in the Balkans.
The Bank of Italy, the Central Bank of Bosnia and Herzegovina (CBBH), and the Central Bank of Montenegro all announced the move in separate statements on July 20.
The ‘Tips clone’ was developed by the Bank of Italy after central banks in the western Balkans agreed to link their payments systems in January 2025. As its name suggests, it mirrors the functionality of the Target instant payments
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