EBA CLEARING is a pan-European payment infrastructure provider owned by 53 major European banks. Established in June 1998 and headquartered in Paris, the company operates offices in Brussels, Frankfurt, Helsinki, London, and Milan. It focuses on secure, large-scale payment processing systems that are essential for the financial stability of the Eurozone. The company offers several key services, including EURO1 for high-value payments, STEP1 for small and medium-sized banks, and STEP2-T, which handles bulk retail payments. EBA CLEARING also provides RT1, a real-time instant payment system, and the Verification of Payee (VoP) tool for enhanced payment security. In 2024, EBA CLEARING processed 22.7 billion transactions, with its systems overseen by the European Central Bank due to their systemic importance. As a non-profit entity, EBA CLEARING prioritizes cost optimization and aims to foster pan-European collaboration and financial stability.