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RT1 instant payment system processes 500,000 transactions

Thursday 22 February 2018 10:15 CET | News

RT1, the EBA CLEARING`s pan-European instant payment system, has processed more than half a million transactions in the first three months of its operations.

The system passed the 500,000 transactions on 19 February 2018. In the three months since its launch, RT1 has processed transactions with a total value of EUR 300 million.

The platform currently handles over 10,000 transactions per day on average. At present, RT1 extends reach to over 500 payment service providers from 10 EU countries, which are addressable via the 20 participants connected to the service at this stage.

According to EBA CLEARING, over 95% of the transactions sent via RT1 are processed within three seconds. The service is open to any account servicing payment provider (AS-PSP) adhering to the EPC SCT Inst Scheme. Different options to interact with the system allow any type of user access to the RT1 platform.


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Keywords: RT1, EBA clearing, online payments, instant payments, transactions , Europe, EU, PSPs
Categories: Payments & Commerce
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Countries: World
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Payments & Commerce






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