The Company

Who we are

EBA CLEARING is a provider of pan-European payment infrastructure solutions. Founded in 1998, the Company is owned by 52 of the major banks operating in Europe and based on a country-neutral governance model. The payment systems of EBA CLEARING are pan-European by design and desire: they are developed in close co-operation with the Company’s multinational user community and best-of-breed technology partners.

EBA CLEARING manages two Systemically Important Payment Systems, the large-value euro payment system EURO1 and STEP2, a pan-European payment infrastructure platform for mass payments in euro, which provides full reach to all financial institutions across Europe processing credit transfers and direct debits in euro. This means that more than 4,800 financial institutions in all SEPA countries are currently reachable via STEP2.

With the support of 39 funding institutions from across SEPA and its technology partner SIA, EBA CLEARING is currently implementing RT1, a pan-European real-time payment infrastructure platform for euro transactions. The system will be open to any AS-PSP adhering to the EPC’s SCT Inst Scheme and handle instant payments in line with the scheme from its launch date in November 2017 on.

Where we come from

EBA CLEARING is a bank-owned provider of pan-European payment infrastructure solutions and was founded in June 1998 by 52 banks.

EBA CLEARING set one of the first milestones in the era of euro clearing in 1998, when the newly created company started operating EURO1, a large-value clearing system for cross-border euro payments, on the eve of the Economic and Monetary Union. Until today, EURO1 is the only privately owned RTGS-equivalent large-value payment system on a multilateral net basis.

In 2000, EBA CLEARING launched STEP1, a single payment service which processes commercial euro transactions mainly for medium-sized and smaller banks.

Since April 2003, EBA CLEARING has been managing and operating the STEP2 platform, a Pan-European Automated Clearing House for mass payments in euro, which has been offering SEPA Services since January 2008. STEP2 provides banks across Europe with one channel through which they can send and receive their SEPA Credit Transfers as well as their SEPA Direct Debits. A dedicated STEP2 service for the clearing of card-initiated transactions was launched in April 2015. 

In March 2013, EBA CLEARING launched MyBank, an e-authorisation solution for online payments and other online transactions, which is geared at facilitating the growth of e-commerce across Europe. MyBank enables customers to pay for online purchases all across Europe by using their familiar online banking interface. Today, MyBank is owned and managed by PRETA S.A.S., a wholly owned subsidiary of EBA CLEARING.

In co-operation with financial institutions from all over Europe, EBA CLEARING is currently delivering RT1, an infrastructure solution for the processing of instant SEPA credit transfers at a pan-European level. The new payment system will be operating around the clock on any day of the year. It will support payment service providers in transferring euro transactions between payment accounts in less than 10 seconds end to end, with immediate availability of the payment amount to the beneficiary.

From November 2017 on, financial institutions from all over Europe will be able to use RT1 for any payment product in euro that will be fully compliant with the SCT Inst Scheme of the European Payments Council (EPC) and in line with the ISO 20022 global messaging standards for real-time payments.