Background information

In consultation with its users, EBA CLEARING concluded in 2014 that a pan-European, collaborative approach would be best for developing an instant payment infrastructure. Confirmed by the Euro Retail Payments Board’s call for a pan-European instant payment solution in December 2014, EBA CLEARING launched a task force in February 2015.

The task force included over 20 representatives of infrastructure service users from across Europe. The aim of the task force was to create the roadmap for delivering a pan-European infrastructure solution and a blueprint outlining its requirements.

By April 2016, EBA CLEARING was able to formally kick off the development and implementation of the instant payment project with the support of close to 40 funding institutions:

  • ABN AMRO Bank

  • Aktia

  • Allied Irish Banks

  • Banca ITB

  • Banca Monte dei Paschi di Siena

  • Banca Popolare di Milano

  • Banca Sella Holding

  • Banco de Sabadell

  • Banco Popular Español

  • Bank of Ireland

  • Bank of New York Mellon

  • BBVA

  • CaixaBank

  • Central Bank of Savings Banks Finland

  • Commerzbank

  • Crédit Agricole

  • Danske Bank

  • Deutsche Bank

  • DNB Bank

  • Elavon

  • ERSTE Group Bank


  • HSBC

  • HVB - UniCredit

  • ING

  • Intesa Sanpaolo

  • J.P. Morgan

  • KBC

  • LHV Pank

  • Nordea

  • OP Corporate Bank

  • Raiffeisenlandesbank Oberösterreich

  • Santander

  • S-Bank

  • SEB

  • Swedbank

  • Ulster Bank

  • Unicredit S.p.A.

By January 2017, testing began and in November 2017, on the day of the launch of the SCT Inst Scheme of the EPC, EBA CLEARING’s instant payment system RT1 went live.

In preparation of the launch, EBA CLEARING published a white paper in June 2017, describing the key elements of the service.