Podgorica, (MINA-BUSINESS) – The TIPS Clone system in Montenegro is one of the most significant reforms of the country’s payment system, Prime Minister Milojko Spajic said, adding that it is further proof that European integration brings tangible benefits to citizens and businesses.

“As of today, citizens and businesses will be able to send and receive money within just a few seconds, 24 hours a day, seven days a week, every day of the year. They no longer have to wait for the next day or the next settlement cycle," Spajic said in a post on Facebook. 

He added that payments are processed immediately.

“Last year, we became part of the SEPA payment area, thereby bringing European rules and standards into the everyday lives of our citizens and businesses,” Spajic said.

According to him, Montenegro is now taking the next step through TIPS Clone.

“Citizens do not need to follow directives, regulations, and negotiating chapters, but they clearly feel when something works faster, simpler, and cheaper,” Spajic said.