meta_id 3020480

On March 31, 2026, the Central Bank of Montenegro (CBCG) signed a licensing agreement with the European Payments Council (EPC) to introduce instant payments in accordance with Single Euro Payments Area (SEPA) standards. This agreement enables Montenegro to implement modern European rules and technical standards for instant payments under the TIPS Clone project, making it the first country in the Western Balkans to secure the regulatory and technical framework for such implementation. The licensing agreement follows Montenegro's accession to the SEPA payment area on October 6, 2025, and represents a significant step toward modernising the national payment infrastructure and integrating fully into the European payments market. The license permits CBCG to develop and manage a domestic instant payment scheme, facilitating faster, safer, and more accessible real-time payments. The system will enable citizens and businesses to execute payment transactions almost instantly at any time throughout the year, reducing payment transaction costs and enhancing the efficiency of payment operations. The instant payments system project is being implemented in partnership with the Bank of Italy, which serves as the technical provider of the TIPS service within the Eurosystem payment infrastructure. The TIPS Clone platform will operate in full alignment with the operational rules and functioning of TIPS itself. The application of the instant payments system is planned for July 20, 2026. This implementation represents a concrete step by CBCG toward building a modern, efficient, and interoperable payment system aligned with contemporary needs and Montenegro's European integration objectives.