Ignazio Visco: Welcoming remarks - TIPS launch event

Welcoming remarks by Mr Ignazio Visco, Governor of the Bank of Italy, at the TIPS launch event, Frascati (Rome), 30 November 2018.

Ladies and Gentlemen,

It is my pleasure to welcome you here today for the launch of TARGET Instant Payment Settlement (TIPS). And I especially welcome Yves Mersch, Member of the Executive Board of the European Central Bank, who will not only actively participate to the launch but will also offer us his remarks on the role this new market infrastructure aims to play in the system of retail payments in Europe.

Instant payments are used to settle retail transactions - 24 hours a day, seven days a week - and are attracting much attention and interest.