LATEST NEWS

OP Corporate Bank and EBA CLEARING issue joint press release

23 January 2025

The pan-European Verification of Payee solution is ready for roll-out   OP Corporate Bank and EBA CLEARING have announced today the successful completion of the first Verification of Payee (VOP) calls using the newly launched FPAD (Fraud Pattern and Anomaly Detection) VOP solution. With these VOP calls, OP has spearheaded the roll-out of the pan-European solution nine months ahead of the October 2025 deadline for Verification of Payee set by the EU Instant Payments Regulation (IPR). Many STEP2 and RT1 Participants are currently preparing to interface with the new EBA CLEARING solution in order to ensure a smooth roll-out of…

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OP Corporate Bank and EBA CLEARING issue joint press release

23 January 2025

The pan-European Verification of Payee solution is ready for roll-out   OP Corporate Bank and EBA CLEARING have announced today the successful completion of the first Verification of Payee (VOP) calls using the newly launched FPAD (Fraud Pattern and Anomaly Detection) VOP solution. With these VOP calls, OP has spearheaded the roll-out of the pan-European solution nine months ahead of the October 2025 deadline for Verification of Payee set by the EU Instant Payments Regulation (IPR). Many STEP2 and RT1 Participants are currently preparing to interface with the new EBA CLEARING solution in order to ensure a smooth roll-out of…

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EBA CLEARING services close out 2024 with record highs

23 January 2025

In December 2024, over two billion payments were processed via the EBA CLEARING services. Traditionally a peak month, December 2024 set new records all around. For the first time ever,…

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Pan-European OCT Inst Service goes live in RT1

17 December 2024

RT1 OCT Inst Service leverages existing building blocks to support RT1 Participants with a smooth onboarding RT1 Participants are eager to re-use the pan-European instant payment infrastructure for cross-border payments…

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EBA CLEARING launches SEPA-wide VOP solution

10 December 2024

The pan-European verification of payee (VOP) solution helps PSPs meet Instant Payments Regulation and EPC scheme requirements Different options on the requesting and responding side offer maximum flexibility and enhanced…

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Total transactions processed in EBA CLEARING payment services in 2024:
billion
New volume record for STEP2 SCT transactions processed on 2 April 2024:
million
New record day for RT1 processing on 2 December 2024:
million transactions
New volume record for STEP2 SDD Core transactions processed on 1 October 2024:
million

IN THE SPOTLIGHT

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Verification of Payee: why pan-European cooperation matters

At EBAday 2024, Hays Littlejohn and Erwin Kulk explain how network-based fraud pattern and anomaly detection can boost the customer experience and safety provided by verification of payee checks. The pair exposes the added value that EBA Clearing’s pan-European verification of payee solution will bring as from its launch in December 2024. Cooperation on fraud mitigation was one of the biggest topics at EBAday and this practical example of a collectively designed and delivered toolset makes it clear why joining forces against fraud matters.