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.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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 completed pan-European volume testing of its Fraud Pattern Anomaly Detection Verification of Payee (FPAD VOP) solution with STEP2 and RT1 users, assessing readiness for the Instant Payments Regulation. The exercise involved interoperability and performance checks, with over 55 participants across 14 countries preparing to adopt the…
EBA Clearing announced that over 55 RT1 and STEP2 participants from 14 countries are set to adopt its Fraud Pattern and Anomaly Detection Verification of Payee (FPAD VOP) solution, as mandated by the Instant Payments Regulation. The May 2025 release integrates the European Payments Council’s Directory Service and aligns the VOP interface with its…
EBA CLEARING and OP Corporate Bank completed the first Verification of Payee (VOP) calls using EBA CLEARING’s FPAD VOP solution, advancing the pan-European roll-out. This positions OP Corporate Bank nine months ahead of the EU Instant Payments Regulation deadline, with other STEP2 and RT1 participants preparing for broader SEPA integration…