After collecting the payment orders , the local agent compiles payment blocks and sends composite instructions to the respective foreign agents , who then convert the TIPANET message format into its domestic equivalent for local execution .
The TIPANET format handles credit transfers and money - cheques .
After collecting the payment orders , the local agent compiles payment blocks and sends composite instructions to the respective foreign agents , who then convert the TIPANET message format into TIPANET 's domestic equivalent for local execution .
The TIPANET format handles credit transfers and money - cheques .