Second Meeting of the National Payments Council: SEPA Delivers Measurable Savings, TIPS Clone Enters a Key Preparatory Phase
25/12/2025
The second meeting of the National Payments Council, chaired by Vice Governor Zorica Kalezić, was held at the Central Bank of Montenegro. At the meeting, the members reviewed the results from the first two months of full implementation of SEPA standards in Montenegro, the status of the TIPS Clone project, and other current issues.
Council members were presented with the CBCG data on developments following Montenegro’s accession to SEPA. The first two months of SEPA implementation showed a strong and measurable reduction in costs for users. From 7 October to 7 December 2025, the SEPA payment system rapidly assumed a prevailing role among retail customers: SEPA accounted for 78% of transactions up to 200 euros and 65.9% of transactions up to 20,000 euros. The average SEPA fee via electronic channels for individuals amounted to a mere 2.24 euros, while the average SWIFT fee for the same transactions was 66.8 euros, meaning that SWIFT was almost 30 times more expensive.
Corporate sector also recorded strong initial results with approximately half of international payment flows migrating to SEPA across all value categories. For legal entities, the SEPA electronic fee amounted to 6.4 euros, compared to 46.9 euros for SWIFT, representing a sevenfold higher cost.
Council members were informed about progress on the TIPS Clone project, implemented by the CBCG and carried out in cooperation with the Banca d’Italia, with the support of the World Bank. It was highlighted that North Macedonia has officially joined the initiative, meaning that five Western Balkan countries are now working on implementing national instant payment systems.
In Montenegro, bank project teams have been established, project documentation exchange has been put in place, and regular progress reporting has been introduced. Within their respective competences, expert teams from the CBCG and commercial banks are carrying out preparatory activities to adapt systems for integration with the TIPS Clone platform and other necessary procedures across various segments of the project.
At the meeting, members also addressed issues raised by commercial banks, including the future regulation of instant payments, particularly with regard to transaction limits, fees, and the relationship with the existing DNS system. One of the topics discussed was the possibility of improving the model of enforced collection on individuals’ bank accounts, and the initiatives to enhance salary payment processes through data exchange digitalisation and standardisation, and issues related to the application of the ISO 20022 standard in budgetary payments.
The National Payments Council is a key platform for coordination between the CBCG, banks, state authorities and other relevant institutions, with the aim of implementing payment system reforms in a manner ensuring system stability, user protection and faster integration of Montenegro into the European financial space.