EBA Clearing’s instant payment system RT1 has processed more than half a million transactions since its launch on 20 November 2017.
The RT1 system passed the transaction milestone on 19 February.
RT1 supports real time payments in the Single Euro Payments Area (SEPA).
According to EBA Clearing, over 95 percent of the transactions are processed in less than three seconds.
In the three months since it went live, RT1 has processed on average more than 10,000 transactions per day.
Erkki Poutiainen, chairman of EBA Clearing, said: “RT1 has had a very promising start and is the heart of the instant payment ramp-up across SEPA. We are pleased to see that the system continues on a successful path following its smooth and timely delivery in a collaborative effort fuelled by our pan-European user community and supported by SIA and Swift.”
Hays Littlejohn, CEO of EBA Clearing, commented: “Driven by the active experience of our participants and the expected volume uptake, we plan two further releases in 2018, which will expand connectivity options and introduce additional functionality.”
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