| Systems |
Participation Types |
Cooperation Models |
RT1 System
The RT1 System is open to account servicing payment service providers (AS-PSPs) adhering to the EPC
SCT Inst Scheme. Participants in the EPC SCT Inst Scheme have multiple access and participation
options to connect to the RT1 System.
The RT1 System access model has been designed to allow fair and open access to the service, with the
goal to efficiently build reach across Europe.
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Entities joining the RT1 System as Participants may send and receive data directly to and
from the system. Participants are identified by RT1 via their BIC8. Any entity that meets the
admission criteria set forth in the RT1 legal documentation can be admitted as Participant in
the RT1 System.
All Participants in the RT1 System are able to manage their liquidity through their TARGET2
PM account.
A Participant has also the possibility to choose a third-party (a ‘Liquidity
Provider’) with direct participant status in TARGET2 which on a
contractual basis provides liquidity management to such Participant (‘Liquidity Serviced
Participant’). Liquidity Serviced Participants have an agreement
with a Liquidity Provider to have access to the TARGET2 funding/withdrawal mechanism (i.e.
the position of the Liquidity Serviced Participant is funded/defunded
via the PM account of the Liquidity Provider. Liquidity Providers make their TARGET2 PM
account available to Liquidity Serviced Participants in order for the
Liquidity Serviced Participant with respect to the RT1 System. Liquidity Providers don’t
send and receive messages to and from the RT1 System but they can receive reports.
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Certain entities (‘Technical Providers’) may provide software solutions or
connectivity services to Participants in the RT1 System.
Technical Providers may opt for two registration levels:
- ‘Solution Providers’ to provide technical solutions (e.g. gateway, connectivity
or back office software solutions) enabling the use of the RT1 System by the respective
Participant;
- ‘Technical Service Provider’ to provide connectivity services to the RT1 System
to one or more Participants, including at least the technical connection to the RT1
System in order to send and receive messages.
Technical Providers willing to provide software solutions or connectivity services to
Participants within the context of the RT1 System are able to adhere to the RT1 Technical
Provider Programme upon submission of the pre-registration request form.
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R2P Service
R2P is open to request-to-pay service providers (RTP-SPs) adhering to the EPC SEPA Request-to-Pay
(SRTP) Scheme.
SRTP Scheme’s Participants have multiple access and participation options to connect to the service,
which are adapted to their respective profile. The R2P access model has been designed to allow fair
and open access to the service, with the goals to build maximum reach across Europe, establish a
high level of reliability and trust between users, and follow a proportionate risk-based approach.
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Entities joining the R2P Service as Participants may send and receive data directly to
and from the system. Any entity that meets the admission criteria set forth in the R2P legal
documentation can be admitted as Participant in the R2P Service.
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Certain entities (‘Technical Providers’) may provide software solutions or
connectivity services to Participants in the R2P Service.
Technical Providers may opt for two registration levels:
- ‘Solution Providers’ to provide technical solutions (e.g. gateway, connectivity
or back office software solutions) enabling the use of the R2P Service by the respective
Participant;
- ‘Technical Service Provider’ to provide connectivity services to the R2P Service
to one or more Participants, including at least the technical connection to the R2P
Service in order to send and receive messages.
Technical Providers willing to provide software solutions or connectivity services to
Participants within the context of the R2P Service are able to adhere to the R2P Technical
Provider Programme upon submission of the pre-registration request form.
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STEP2-T System
STEP2 is a Pan-European Automated Clearing House processing mass payments in euro. The platform is
one of the key clearing and settlement mechanisms in the Single Euro Payments Area (SEPA), both in
terms of processing volumes and participating institutions.
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Participants may send and receive data directly to and from the STEP2 Services. Participants are
identified by the STEP2 SCT and MPEDD Services via their BIC8. Any bank or branch that has a
unique BIC8 and that meets the admission criteria set forth in the STEP2 legal documentation can
participate in the STEP2-T System. Participants can manage their own funds balance for STEP2 CGS
through their own TARGET2 PM account.
Liquidity Serviced Participants are Participants in the STEP2-T System that use the TARGET2
PM account of a Liquidity Provider. Liquidity Serviced Participants have an agreement with a
Liquidity Provider to have access to the TARGET2 funding/withdrawal mechanism (i.e. the
position of the Liquidity Serviced Participant is funded/defunded via the PM account of the
Liquidity Provider allowing such Liquidity Serviced Participant to have a funds balance in
STEP2 and send transactions).
Liquidity Providers make their TARGET2 PM account available to Liquidity Serviced
Participants in order for the Liquidity Serviced Participant to have a position in the STEP2
Services. Liquidity Providers don’t send and receive messages to and from the STEP2 Services
but they can receive reports.
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Certain entities (‘Technical Providers’) may provide software solutions to Participants in the STEP2-T System.
Technical Providers willing to provide software solutions to Participants within the context of the STEP2-T System will get access to the STEP2-T System Documentation.
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STEP2 Card Clearing System
The STEP2 Card Clearing System (STEP2 CC) is a high volume, commercial and retail euro card clearing
processing system based on a direct debit mechanism capable of routing card clearing messages
between participants.
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Participants may send and receive data directly to and from the STEP2 Card Clearing System
(‘STEP2 CC System’). Participants are identified by the STEP2 CC System via their BIC8. Any bank
or branch that has a unique BIC8 and that meets the admission criteria set forth in the STEP2 CC
legal documentation can participate in the STEP2 CC System.
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SEDA Service
SEDA stands for SEPA-compliant Electronic Database Alignment. The purpose of SEDA is to exchange the
mandate-related information between the bank of the creditor (called the Alignment Bank in SEDA) and
the bank of the debtor prior to the first debit collection.
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Entities joining the SEDA Service as Participants may send and receive mandate data directly to and from the system.
Any entity that meets the admission criteria set forth in the SEDA legal documentation can be admitted as Participant in the SEDA Service.
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