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EBA CLEARING's instant payment system expands to over 1000 PSPs

Wednesday 11 July 2018 | 12:24 PM CET

EBA CLEARING has announced that its pan-European instant payment system RT1 connected six new participants.

These new participants are: Banca Popolare di Sondrio, Crédit Agricole Cariparma S.p.A., FinecoBank Spa, Hanseatic Bank GmbH & Co KG, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen.

The new joiners brought the total number of RT1 participants to 28 and expanded the reach of the system from around 600 to over 1,000 addressable payment service providers.

RT1 has increased its reach in Germany, where Landesbank Baden-Württemberg (LBBW) and Landesbank Hessen-Thüringen (Helaba) connected the savings bank sector with 385 payment service providers to the pan-European platform.

RT1 went live on the launch date of the SEPA Instant Credit Transfer (SCT Inst) Scheme of the European Payments Council (EPC) on 21 November 2017. The system provides payment service providers in the Single Euro Payments Area with a real-time payment processing facility operating around the clock on any day of the year. The service is open to any account-servicing payment service provider (AS-PSP) adhering to the EPC SCT Inst Scheme.

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