The pan-European system has taken up operations with a first group of 17 banks from 8 countries, which are extending SCT Inst reach to more than 500 addressable payment service providers (PSPs).
Over the next 12 months, EBA CLEARING expects more early adopters to connect to the system, which could reach critical mass as early as by the end of 2018.
Together with 39 funding institutions and its technology partner SIA, EBA CLEARING started to develop and implement the pan-European infrastructure platform RT1 in April 2016. RT1 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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now