EBA CLEARING announced that the user communities of its RT1 and STEP2 SCT services have successfully completed the 9 October 2025 changeover required under the Instant Payments Regulation (IPR), following upgrades to meet the new IPR obligations that took effect, including Verification of Payee (VOP) requirements for credit institutions in the eurozone. Alongside upgraded RT1 SEPA Instant Credit Transfer (SCT Inst) and STEP2 SEPA Credit Transfer (SCT) services, the company delivered a pan-European VOP solution that allows participants to meet VOP requirements by leveraging its network-based Fraud Pattern and Anomaly Detection (FPAD) functionality. Close to 50 RT1 SCT Inst and STEP2 SCT participants went live with FPAD VOP on the change date, with additional participants preparing to adopt further FPAD indicators to strengthen network-based fraud prevention alongside VOP checks.
EBA Clearing 2025-10-09
Europe's EBA CLEARING completes Instant Payments Regulation changeover with upgraded RT1 and STEP2 services and pan-European Verification of Payee solution
EBA Clearing announced the successful 9 October 2025 changeover by user communities of its RT1 and STEP2 SCT services under the Instant Payments Regulation (IPR). The upgrades include Verification of Payee (VOP) requirements for eurozone credit institutions and a pan-European VOP solution utilizing Fraud Pattern and Anomaly Detection (FPAD) functionality. Nearly 50 participants went live with FPAD VOP, with more preparing to adopt additional FPAD indicators for enhanced fraud prevention.