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EBA CLEARING's RT1 platform reaches critical mass

Wednesday 10 February 2021 11:12 CET | News

France-based EBA CLEARING has announced that its RT1 platform has reached critical mass in Belgium for instant payments.

The pan-European instant payment infrastructure system currently counts six participants based in Belgium: Aion SA, BNP Paribas Fortis, Belfius, CBC Banque, ING Belgium and KBC Bank. Thanks to this coverage, the majority of Belgian payment accounts are now reachable for euro instant payments from across Europe.

RT1 currently counts 76 participants across Europe, which extend reach to 2,588 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.

RT1 provides payment service providers in the Single Euro Payments Area with a real-time payment processing facility operating 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.

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Keywords: EBA clearing, RT1, Belgium, banking, payment accounts, instant payments, SEPA, Single Euro Payments Area, SCT, real-time payments
Categories: Banking & Fintech | Payments General
Countries: Belgium
This article is part of category

Banking & Fintech