STEP2 is a Pan-European Automated Clearing House processing mass payments in euro. The system 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 provides full reach for SEPA Credit Transfers and Direct Debits to over 4,800 payment service providers across all SEPA countries. The system handles euro payments in bulk files and processes 60 million transactions per day on average.

In August 2014, the STEP2-T System was classified as a systemically important payment system by the European Central Bank. STEP2-T is therefore held to the highest oversight requirements. The system is highly resilient and is equipped with full disaster recovery features.

Key features

  • Full reach across Europe

  • Compliance with regulatory requirements

  • Secure settlement in TARGET

  • Country-neutral governance

  • Highly resilient and robust processing infrastructure

  • Rich and flexible functionality

  • Low-cost processing

  • Pan-European approach to service development