EBA CLEARING announced today that its RT1 and STEP2 SCT user communities have successfully completed the 9 October 2025 milestone of the Instant Payments Regulation (IPR), following the upgrade of the Company’s services to the new IPR requirements. 9 October 2025 marks a key change date for the European payments ecosystem, since the Verification of Payee (VOP) obligations for credit institutions in the eurozone and other major IPR requirements kicked in today.
Aside from providing its users with upgraded RT1 SEPA Instant Credit Transfer (SCT Inst) and STEP2 SEPA Credit Transfer (SCT) Services complying with the new obligations, EBA CLEARING also delivered a pan-European VOP solution enabling RT1 SCT Inst and STEP2 SCT users to leverage its network-based Fraud Pattern and Anomaly Detection functionality (FPAD) for meeting the IPR VOP requirements.
“The EBA CLEARING user community has been leading pan-European instant payments since 2017. We were also the first to introduce a network-based fraud-fighting functionality for SCT and SCT Inst payments at a pan-European level,” says Hays Littlejohn, CEO of EBA CLEARING. “9 October 2025 is an important milestone for the European payments industry, and we are glad that we have been able to help our users with the complex challenges they have been facing at PSP level. I would like to thank our user community for their collaboration and their efforts towards taking instant payments – and payment security – to the next level.”
EBA CLEARING’s FPAD functionality was developed in 2023 with the support of fraud experts from STEP2 and RT1 Participants across Europe, following the release of a blueprint and subsequent RT1 and STEP2 user consultation in Q4 2022. Close to 50 RT1 SCT Inst and STEP2 SCT Participants went live with FPAD VOP today. Many more are preparing to leverage additional FPAD indicators to strengthen fraud-fighting capabilities against a wider range of threats. FPAD’s broad range of network-based fraud risk indicators enables PSPs to add multiple layers to their fraud prevention approach in addition to VOP checks.
STEP2-T and RT1 are pan-European retail payment systems processing SEPA Credit Transfers (STEP2-T) and SEPA Instant Credit Transfers (RT1) respectively.
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