EBA Clearing’s instant payment system RT1 has expanded its reach to more than 1,000 payment service providers.
The pan-European real-time payment platform has welcomed six new participants, which brought the total number of RT1 participants to 28, expanding the reach of the system from 600 payment service providers to more than 1,000.
RT1 has particularly increased its reach in Germany, where the new additions of Landesbank Baden-Württemberg (LBBW) and Landesbank Hessen-Thüringen connected the savings bank sector with 385 payment service providers to the platform.
Wolf-Rüdiger Braun, head of division operation services at LBBW, commented: “We are very pleased to support the German savings bank sector in offering instant payments to its 50 million customers.”
“Our connection to RT1 enables these institutions to be among the early movers on euro real-time payments at European level and the first sector in Germany to integrally roll out instant payment products at a mass scale.”
Markus Jörg, head of cash management at Helaba, said: “Processing SEPA Instant Credit Transfer Scheme transactions requires not only new IT infrastructure but also liquidity management and other support services operating 24/7.”
“As one of two processing hubs for the German savings bank sector, Helaba has successfully risen to the challenge of providing our institutions with the seamless and carefree processing services they need to ensure that their customers can make payments with instant finality during and outside of their bank’s operating hours.”
Hays Littlejohn, CEO of EBA Clearing, added: “RT1 has been designed to fulfil the needs of payment service providers and their customers all over Europe.”
“To this effect, the platform offers great flexibility in terms of participation and access options and is use case-agnostic.”
