The International Finance Corporation (IFC); a member of the World Bank Group; promotes sustainable private sector investment in developing countries to reduce poverty and improve people’s lives. Through its advisory services and donor-funded programs; IFC fosters financial and social inclusion by creating enabling environments where financial stability; access to finance; and risk management support private sector investment; capital market development; and equitable growth.The DFS Project in Europe aims to promote financial inclusion and deepen financial markets in the Western Balkans and Eastern Europe by supporting digital banking; fintech; and embedded finance (EmFi). The project addresses systemic gaps through legal reforms; infrastructure development; and ecosystem strengthening.This tender is designed to complement and align with IBRD’s ongoing technical assistance in the Western Balkans in modernizing payment systems through legal and regulatory reforms and infrastructure upgrades. The goal is to ensure that modern payment systems are adopted and used by private sector financial institutions; thereby enhancing domestic and cross-border financial flows; reducing transaction costs; and fostering innovation.Objective of the Assignment IFC seeks to engage a qualified vendor to support two strategic workstreams under the DFS project; with a strong emphasis on enabling private sector financial institutions to adopt and deliver modern payment solutions:1. Support the development of Overlay Services for Fast Payment Systems by the private sector2. Support to the public sector in developing the guiding documents for the Instant Payment Systems (IPS scheme rules and overlay services) in Bosnia and HerzegovinaThe target countries for this initiative include Albania; Bosnia and Herzegovina; Georgia and Kosovo.Note: It should be noted that most of the Balkan countries are aiming to implement the ‘TIPS Clone’ and this shall be taken into account in provision of the services. The assignment is also consultative in nature and does not require any infrastructure/IT implementation role.