RT1 is a payment infrastructure service for the processing of SEPA Instant Credit Transfers (SCT Inst) at a pan-European level. The payment system operates around the clock on any day of the year.

RT1 supports payment service providers in transferring euro transactions between payment accounts in a few seconds end to end, with immediate availability of the payment amount to the beneficiary. By mid-2020, over 98% of all RT1 transactions were completed in under three seconds, with the average processing time being well under two seconds.

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.

Since its launch in November 2017, RT1 has extended instant payment reach to 100% of the account-servicing payment service providers adhering to the SCT Inst Scheme. The overall reach of the service has continued to grow in line with the rising SCT Inst adoption rate across Europe. RT1 currently has 79 participants across Europe and extends reach to over 2,500 PSPs from 23 different SEPA countries.

On weekdays, the service currently handles roughly over 1.5 million transactions per day on average (as of 3 November 2021). 

Key benefits of the service

  • Designed to build pan-European reach

  • Robust and resilient infrastructure platform

  • Comprehensive risk controls to mitigate settlement risks

  • Compliant with the EPC SCT Inst Scheme

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

  • Liquidity-efficient arrangements

  • Open to any SCT Inst Scheme-adhering PSP

  • 24/7 non-stop service

  • Future-proof in terms of scalability and flexibility

  • Use case-agnostic design

  • Full settlement certainty also during TARGET2 closing hours

EBA CLEARING side session EBAday 2020: With R2P into the future - outlook from different communities

Learn from future R2P users how they approach request to pay, how it ties in with their instant payment strategy and which first steps they are planning to take.