ECB takes on PayPal with TIPS instant payment system

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ECB takes on PayPal with TIPS instant payment system

Lets banks settle payments instantly across Europe.

The European Central Bank launched on Friday a new system aimed at letting banks settle payments instantly across Europe, helping them to compete with PayPal and other global tech giants. Developed in just over a year, the ECB's TARGET Instant Payment Settlement (TIPS) system will let people and ...

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