Milan and Paris, 7 June 2016
EBA CLEARING provides sneak preview of instant payment platform design
Detailed system specifications for the Company’s pan-European real-time infrastructure solution will become available over the summer
EBA CLEARING today provided a sneak preview of the system design, functionality and interface specifications for its future pan-European instant payment platform to a wide audience of payment practitioners and stakeholders at the industry conference EBAday in Milan.
The pan-European payments infrastructure provider shared information on the liquidity-handling, messaging model, time-out management, exceptionhandling processes and connectivity models of its new system during a dedicated information session.
The detailed specifications for connecting to EBA CLEARING’s new infrastructure platform will be made available to all interested institutions and other stakeholders in the course of this summer.
"Today’s session has allowed us to share information about the design of our instant payment platform with a wider audience. We plan to complete the specifications for the EBA CLEARING SCT Inst service and make these available to all interested parties in the course of this summer. We want to give all interested payment service providers the possibility to prepare for joining the future service as quickly as they would wish to,” said Erwin Kulk, Head of Service Development and Management, EBA CLEARING. “The delivery of the service for a go-live in November 2017 is well on track. With this early communication and the publication of our specifications, we continue our open and transparent approach aimed at involving future users of the service and relevant stakeholders in the creation of a truly pan-European instant payment infrastructure.”
Over the past few months, EBA CLEARING has been working on the delivery of the system specifications with the support of future users. The future solution will provide a real-time payment processing facility, which will be available around the clock on any day of the year. Payment service providers from all over Europe will be able to use this highly flexible solution for any payment product that will be fully compliant with the instant payment scheme being developed by the European Payments Council and in line with the global messaging standards for instant payments (ISO 20022).
About EBA CLEARING
EBA CLEARING is a provider of pan-European payment infrastructure solutions. The Company was founded in 1998 and is owned by 53 of the major banks operating in Europe. EBA CLEARING manages the large-value payment system EURO1 as well as STEP1, a payment service for commercial transactions, and STEP2, a panEuropean payment infrastructure platform for mass payments in euro, providing full reach to all financial institutions across Europe processing credit transfers and direct debits in euro. More than 4,800 financial institutions in all SEPA countries are reachable via STEP2.