TIPS Clone platform for instant payments in the Western Balkans goes live

20 July 2026

On 20 July, the TIPS Clone platform for the settlement of instant payments officially went live. Developed by Banca d'Italia, the platform is available to the countries of the Western Balkans.

The system is based on the same technology as TARGET Instant Payment Settlement (TIPS), the instant payment infrastructure operated by Banca d'Italia on behalf of the Eurosystem.

The Central Bank of Bosnia and Herzegovina and the Central Bank of Montenegro are the first institutions to join the new infrastructure. The platform enables the real-time settlement of instant payments in the currencies of participating countries (in central bank money) and in euro (in commercial bank money) through a secure, technologically advanced and cost-effective solution. A second onboarding window is scheduled for November 2026, when the Central Banks of Albania, Kosovo and North Macedonia are expected to join the platform, bringing all countries participating in the initiative onto the platform.

The initiative was launched by Banca d'Italia with the support of the European Central Bank and the Eurosystem as part of the broader cooperation framework with the countries of the Western Balkans. It aims to enhance the efficiency and modernization of the region's payment infrastructures, contributing to their convergence towards European standards.

While operating as a standalone, independent system, the new platform uses the same technology as TIPS. It therefore benefits from the most advanced functionalities already available in TIPS and will continue to evolve by incorporating future developments and innovations introduced in the Eurosystem infrastructure.

The launch of the platform reflects the strong commitment of the participating central banks to strengthening regional cooperation and marks a further step towards the economic and financial integration of the Western Balkans with the European Union.