Bulgaria Advances Eurozone Integration with Instant Payment System

The process of introducing the euro in Bulgaria is advancing, with the implementation of the Eurosystem’s TIPS (Target Instant Payment Settlement) service playing a central role. The Bulgarian National Bank, the BISERA payment system, two banks, and one electronic money company have joined the service, which facilitates instant payments in euros, completed within ten seconds.

The integration with TIPS is a step within Bulgaria’s National Plan for adopting the euro....