Link with TIPS service

Iberpay's link with the Europan Central Bank's TIPS service

Since the launch of TIPS service in November 2018, Iberpay offers its participants an international connection to process instant credit transfers in euros with the European entities that participate in this service, providing the Spanish financial community with the maximum reachability within the SEPA area.

Iberpay acts as an “Instructing Party” in TIPS on behalf of the entities participating in this gateway, so that, in addition to providing them with the connection to this service, it also offers them additional functionalities such as monitoring their transactions, setting liquidity limits in TIPS, the management of the entities and their platforms's availability, real time information system, advanced monitoring and analysis, statistics, etc.

Entities can process their instant credit transfers with TIPS service through the same and single connection they already hold with Iberpay's platform CICLOM, avoiding any other technical complexities, different networks and protocols, and guaranteeing them a minimum impact on their developments and tests. Iberpay's connection with TIPS service has been set up using the new SWIFT-AGI protocol.