ECB invites expressions of interest for mobile app development challenge
The European Central Bank is inviting independent techies and vendors to develop a mobile app for its forthcoming instant payment settlement system that will let people and businesses send money anywhere in the euro area within seconds.
In November 2018 the Eurosystem will launch TARGET Instant Payment Settlement (TIPS), a new service for settling instant payments in euro. TIPS will be compliant with the SEPA Instant Credit Transfer (SCTInst) scheme developed by the European Payments Council to accommodate instant credit transfers across the Single Euro Payments Area. However, TIPS, or any other market infrastructure alone, „will not be enough to ensure that the citizens of Europe start using instant payments. Apps that can easily initiate instant payments will also be needed”, ECB said:””.
„To help create awareness about instant payments, the European Central Bank (ECB) invites all interested service providers to develop a solution for an app that can be used to initiate transactions for settlement.”, according to the press release.
The central bank is inviting expressions of interest by 1 December. It will provide successful applicants with a dedicated space to present their prototype to participants attending a one-day ECB-convened conference at its premises in Frankfurt am Main in February.
Source: EPC
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
