A workshop on instant payments and the TIPS Clone Project was held to discuss the technical and operational aspects for successful implementation

The Central Bank of the Republic of Kosovo (CBK) in cooperation with the Kosovo Banking Association, organized a dedicated workshop on Instant Payments and the TIPS Clone platform, with the participation of representatives from the banking sector and international expert support.

At the opening, Deputy Governor of the CBK, Mr. Dardan Fusha, emphasized the strategic importance of instant payments for Kosovo’s financial sector. He highlighted that the project, which is being developed in cooperation with Banca d’Italia, is one of the most transformative reforms of the financial infrastructure undertaken in the country.

“This initiative is not just about making payments faster, but about building a modern financial infrastructure that ensures secure, efficient, and fully harmonized payments with European standards. With this system, payments will be processed not in hours or days, but in seconds, and will be available 24/7 for citizens, businesses, and public institutions,” he stated.

Mr. Fusha also emphasized that instant payments will foster financial inclusion, reduce transaction costs, and enable the creation of new digital services, such as QR Code payments in retail and new opportunities for e-Commerce, thereby promoting innovation, fair competition, and better services for users.

On behalf of the co-organizer from the Kosovo Banking Association, Chief Executive Officer, Mr. Petrit Balija emphasized the importance of inter-institutional cooperation for the successful implementation of such transformative reforms. He noted that the banking sector is fully committed and working intensively towards the instant and digital payments agenda, which remains a top priority.

During the workshop, international expert Mr. Kjeld Herreman, engaged with the support of the World Bank, presented to the participants from the financial sector the technical and operational aspects of the TIPS Clone platform, sharing European and international best practices.

The discussions covered the opportunities that instant payments bring for banks and consumers, the legal framework and practices in the EU, scheme documentation and implementation steps, liquidity management, security and fraud prevention, as well as the impact of 24/7 operations on IT systems and operational processes.

The CBK emphasized that cooperation with the Bank of Italy provides Kosovo access to one of the most advanced European platforms, enabling the country to enter a modern era of payments aligned with the same standards as the eurozone. Furthermore, subsequent membership in SEPA would add an additional dimension to this infrastructure reform, allowing for low-cost, efficient, and secure cross-border payments.

The successful implementation of instant payments relies on the joint efforts of the CBK and the banking sector, therefore, this workshop marks an important step in strengthening the sector’s capacities and advancing preparations and knowledge in this field. The CBK remains fully committed to modernizing the payment system in line with its strategic plan and with the full support of its international strategic partners.