EBA CLEARING's RT1 expands instant payment reach in Luxembourg

Five new joiners connected to RT1 today, including two participants from Luxembourg: Banque et Caisse d’Epargne de l’Etat, Luxembourg and Banque Internationale à Luxembourg.

With these additional joiners, RT1 has established critical mass for instant payments in Luxembourg in terms of payment accounts covered. This latest development has also further contributed to the build-up of pan-European instant payment reach: critical mass has now been reached in 10 countries across the continent, including Austria, Estonia, Finland, France, Germany, Italy, Latvia, Lithuania, Luxembourg and Spain.

RT1 currently counts 74 participants across Europe, which extend reach to 2,570 Addressable Payment Service Providers (PSPs) from 24 different SEPA countries listed in the routing table of the system. Together, these PSPs account for over 75% of the regular SEPA credit transfers EBA CLEARING processes today. The RT1 system presently handles over 1 million transactions per day on weekdays.

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 for payments in line with the SEPA Instant Credit Transfer (SCT Inst) Scheme of the European Payments Council. Payments in RT1 are settled in real-time with immediate finality.

RT1 is open to any account-servicing payment service provider (AS-PSP) adhering to the EPC SCT Inst Scheme. A variety of options to interact with the system allow any type of EPC SCT Inst Scheme adherent to access the RT1 platform in the way that best suits their needs.