By November 2021, payment service providers adhering to the SEPA Instant Credit Transfer scheme and are reachable in TARGET2, must also become reachable in the TARGET Instant Payment Settlement (TIPS).

On May 11, 2021, the European Central Bank (ECB) published an information sheet to help new participants understand the main features of TIPS and requirements to join this Pan European platform under the TARGET2 legal framework.

Depending on their needs, payment service providers can access TIPS as participants, reachable parties or instructing parties.