TARGET system

The TARGET system, which stands for Trans-European Automated Real-time Gross Settlement Express Transfer, is a payment processing system used by European banks. It facilitates the secure and efficient transfer of money across borders in real time. TARGET allows financial institutions to settle large-value transactions instantly, ensuring that funds are transferred directly and safely between accounts. This system supports economic stability and efficiency within the Eurozone by enabling seamless transactions, promoting financial integration among European Union countries, and reducing payment delays.