EBA Clearing, https://www.ebaclearing.eu/, are a European clearing house. They own and operate payment infrastructure in euro payments in Europe.
It processes over 17 billion transactions per year. EBA Clearing owns and operates a number of payment systems such as EURO1, STEP1, STEP2 and RT1. STEP2 and EURO1 are Systemically Important Payment Systems (SIPS).
EURO1
EURO1 is a high value RTGS style net settlement system for single same day euro transactions. Payments are settled in real-time and with finality.
It is a high value payment system whose purpose is to provide provide an efficient, secure and cost-effective net settlement infrastructure, with immediate finality for all processed EURO payments.
STEP1
STEP1 processes same-day single payments for retail and commercial transactions. and are for amounts that will not introduce risk into the clearing system. Both the sending and receiving bank have a limit imposed for each transaction.
STEP1 Participants settle their daily balances via a EURO1 Participant of their choice, which acts as their settlement bank.
STEP2
STEP2 is a Pan-European Automated Clearing House for processing payments in euro.
It facilitates SEPA payments to over 4,800 financial institutions and is one of the key euro mass payment systems in Europe.
It also routes, clears and settles SEPA credit transfers for banks using SEPA Credit transfers
RT1 Instant Payments
The RT1 System is a real-time gross settlement payment system for the execution of SEPA Instant Credit Transfers. European banks can use RT1 for any payment in euro that is fully compliant with the SCT Inst Scheme.