EBA CLEARING

Founded in 1998, EBA CLEARING is a key provider of payment infrastructure for the European banking community. The company is owned by 48 major banks operating across Europe and functions under a country-neutral governance model. Its mission is to deliver and manage market-leading infrastructure solutions for euro payments. Its main services include STEP2, a pan-European Automated Clearing House for processing SEPA credit transfers and direct debits; RT1, an instant payment system for SEPA Instant Credit Transfers; and MyBank, an e-authorisation solution. These systems are designated as Systemically Important Payment Systems (SIPS) and are subject to oversight by the Eurosystem.