EURO1 EURO1 is a large-value deferred
net settlement (DNS) payment system, owned and operated by EBA Clearing, with a real-time finality concept that reduces but does not eliminate
settlement risk. EURO1 settles transactions of high priority and urgency, and primarily of large amount, albeit typically those with lesser urgency and lesser amount than is the case on the
T2 platform operated by the
Eurosystem which also has a different cost structure. EURO1 operates on a multilateral net basis, meaning that it continuously adjusts the accounts of the participant banks as they make payments for each other's customers. Payments are settled in real time with finality. EURO1 is open to banks that have a registered address or branch in the
European Union and fulfil a number of additional requirements. It is subject to German law (current account principle/single obligation structure) and is based on a messaging and IT infrastructure provided by
SWIFT.
STEP1 STEP1 is a payment service of EBA Clearing that started in 2000. It is aimed at small and medium-sized banks for single euro payments of high priority and urgency. The technical infrastructure is the same as that of the EURO1 system, both use the messaging and IT infrastructure of SWIFT.
STEP2 Source: STEP2 was put into operation in 2003 in partnership with Italian
payment system provider
SIA S.p.A. It processes mass payments in
euros. Specifically, the umbrella STEP2 system (known as STEP2-T) comprises three
Single Euro Payments Area (SEPA) services: SEPA Credit Transfer (STEP2 SCT), SEPA Direct Debit Core (STEP2 SDD Core), and SEPA Direct Debit Business-to-Business (STEP2 SDD B2B). STEP2-T is a
pan-European automated clearing house (PE-ACH), meaning that it complies with the corresponding principles set by the
European Payments Council (EPC). The STEP2 SCT service has been available from the beginning of SEPA on 28 January 2008 across all SEPA countries. The STEP2 SDD Core service started on 2 November 2009, the transposition date of the
Payment Services Directive, as well as STEP2 SDD B2B. The STEP2-T platform reaches nearly 100 percent of all banks that have signed the SCT and SDD Scheme Adherence Agreements of the EPC. By the early 2020s, STEP2-T had become the leading retail payment system in the euro area based on volume and value.
MyBank MyBank is a pan-European e-authorisation and
Online Banking ePayments service that EBA Clearing launched in March 2013. The solution enables customers across Europe to pay for their online purchases via their regular online or mobile banking environment without having to disclose confidential data to the merchant or other third parties. The solution can be used for authorising SEPA Credit Transfers as well as the creation of SDD mandates. At a later stage, MyBank may also be used for transactions in currencies other than euro or for e-identity services. MyBank is owned and managed by PRETA S.A.S., a wholly owned subsidiary of EBA Clearing.
RT1 RT1 is a pan-European
instant payment system that provides the European payments industry with a pan-European infrastructure platform for real-time payments in euro under the
SEPA Instant Credit Transfer scheme. Launched on 21 November 2017, the RT1 fast payment system allows commercial banks to offer fast payments through this system to their customers throughout the Eurozone. ==Shareholders==