Overview

STEP2 is a Pan-European Automated Clearing House processing mass payments in euro. The platform is one of the key clearing and settlement mechanisms in the Single Euro Payments Area (SEPA), both in terms of processing volumes and participating institutions.  

As a cornerstone of the SEPA processing infrastructure, STEP2 today provides full reach for SEPA Credit Transfers and Direct Debits to over 4,800 payment service providers across all SEPA countries. 

In August 2014, the STEP2-T system has been classified as a systemically important payment system by the European Central Bank and is held to the highest oversight requirements.

Key features

  • Full reach across Europe

  • Compliance with regulatory requirements

  • Secure settlement in TARGET2

  • Country-neutral governance

  • Highly resilient and robust processing infrastructure

  • Rich and flexible functionality

  • Low-cost processing

  • Pan-European approach to service development