The bank-owned infrastructure provider has been offering its Euro1 system to payments banks as a liquidity-efficient alternative to Target2 since the start of the European Monetary Union.

While Euro1 has a market share of nearly 40%, its position is being reevaluated in light of EBA Clearing's move to roll out a real-time payment platform, called RT1, in November, the firm explained at EBAday in Dublin.

A "future positioning programme" will seek feedback from interested users over the next few months, looking into issues such as real-time payments, the industry-wide migration to ISO 20022 standards for high-value payments and the evolving regulatory scene in areas such as liquidity management and payment system operation.

Hays Littlejohn, CEO, EBA Clearing, says: "With our real-time payment platform RT1 all set for its go-live in November, we are ready to revisit the positioning of EURO1 with our user community. While there are quite a few drivers motivating the launch of our new programme, a recent user consultation has also confirmed that EURO1 continues to be highly valued in its current set-up and is considered by our users to be fit for purpose for the next few years.

That is why our initiative will strive to strike a fine balance: ready Euro1 for the longer-term future by adapting it to all the changes we can expect in the high-value payments world, while also maintaining and potentially enhancing its value and, where possible, leveraging investments already made."

EBA Clearing says it wants to have a proposal and implementation roadmap for a revamped Euro1 ready in the next year, with implementation for 2020.