IPS System
Instant Credit Transfer Payment System (IPS System)
Real-time payments, 24/7/365
About the IPS system
The national payment system for the execution of instant credit transfers - IPS system became operational on 20 July 2026.
The Central Bank of Montenegro operates the IPS, ensuring its secure, reliable and stable functioning in accordance with the system's operating rules and internationally recognised standards applicable to payment infrastructures.
The IPS enables individuals and businesses to make and receive payments within seconds, with funds made available to beneficiaries in real time. The system operates 24 hours a day, seven days a week, 365 days a year, including weekends and public holidays.
The IPS was established as part of the regional TIPS Clone project, through cooperation between the Central Bank of Montenegro and the Bank of Italy, under the auspices of the European Central Bank and with the support of the World Bank.
The platform was developed by the Bank of Italy based on the technology of the European TARGET Instant Payment Settlement (TIPS) system, which is designed to process instant payments in real time.
Participants in the IPS system
All banks operating in Montenegro participate in the IPS system based on contractual obligation governing their participation.
List of IPS system participants
No.
| Participant
| BICcode
|
|---|
1
| Crnogorska komercijalna banka AD | CKBCMEPG |
2
| Hipotekarna banka AD | HBBAMEPG |
3
| NLB Banka AD | MNBAMEPG |
4
| Prva banka Crne Gore AD - Osnovana 1901. godine | PRVAMEPG |
5
| Erste Bank AD | OPPOMEPG |
6
| Zapad banka AD | ZBCGMEPG |
7
| Universal Capital Bank AD | UNCBMEPG |
8
| Lovćen banka AD | LOVBMEPG |
9
| Addiko Bank AD | HAABMEPG |
10
| Adriatic Bank AD | AZMNMEPG |
11
| Ziraat Bank Montenegro AD | TCZBMEPG |
Technical Connectivity and Standards
Messages within the IPS system are exchanged in MX format, in accordance with the ISO 20022 messaging standard and the SCT Inst scheme. Participants communicate with the IPS platform in two different modes: Application-to-Application (A2A) and User-to-Application (U2A).
Connectivity to the IPS platform is established exclusively through authorised Network Service Providers (NSPs), which provide the network and communication services necessary for the secure transmission of data and messages between participants and the platform.
Transactions in the IPS system
Transactions processed in the IPS system are as follows:
- Payment transactions in the amount lower than 3,000 euros.
IPS System Architecture
The main components of the IPS system are:
- Access Gateway: Serves as the single point of access for all external communication to /from the IPS infrastructure.
- IPS System: The infrastructure for the exchange of instant payment messages between system participants, in accordance with the adopted payment scheme.
- RDM (Reference Data Management): The component responsible for storing, managing and preparing data for the IPS system. It enables the management of access rights and authorisations, with different user roles and privileges.
