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Instant payment system RT1 hits 1-million-transaction mark

RT1 has processed EUR 635 million since its launch on 21 November 2017.

Successful go-live for EBA CLEARING’s instant payment system RT1

EBA CLEARING today confirmed that instant payment system RT1 went live this morning.
Press Release

Discover all the latest news and updates about EBA CLEARING's instant payment service

EBA CLEARING's instant payment activities

In November 2017, EBA CLEARING launched RT1, an infrastructure solution for the processing of instant SEPA credit transfers at a pan-European level. The new payment system operates around the clock on any day of the year. It supports 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.

Financial institutions from all over Europe can use RT1 for any payment product in euro that is fully compliant with the SCT Inst Scheme of the European Payments Council (EPC) and is in line with the ISO 20022 global messaging standards for real-time payments.

Key benefits of the service

  • Designed to build pan-European reach

  • Open to any Scheme-adhering PSP

  • Robust and resilient infrastructure platform

  • 24/7 non-stop service

  • Comprehensive risk controls to mitigate settlement risks

  • Future-proof in terms of scalability and flexibility

  • Compliant with the EPC SCT Inst Scheme

  • Use case-agnostic design

  • End-to-end processing within less than 5 seconds

  • Full settlement certainty also during TARGET2 closing hours

  • Liquidity-efficient arrangements

Interview: Charting the future of European payments

Hays Littlejohn, CEO of EBA Clearing, Saskia Devolder, Managing Director/Head of Western and Central Europe at SWIFT and Marc Bayle de Jesse, Director General, Market Infrastructure and Payments at the ECB talk at Sibos 2017 about developments in real-time payments.