STEP2 SCT daily averages in Q1 2026 fell to approximately 25.4 million transactions, down from 26.8 million in Q1 2025. The IPR mandatory send deadline took effect on 9 October 2025. It required all euro area bank PSPs to offer instant credit transfers at fee parity with standard transfers. TIPS EUR volumes in March 2026 reached 147 million transactions at a daily average of 4.74 million. That daily average is 153% higher than the January 2025 figure of 1.87 million.
Adoption rates differ across the eurozone. France leads with a 54% SCT Inst initiation rate per bulk transfer. Belgium follows at 34% and the Netherlands at 23%. Germany processed 337 million instant credit transfers in 2024, a 37% year-on-year increase. Instant transactions in Germany still represented only 4.9% of electronically initiated credit transfers that year. SCT Inst share of total scheme volume reached 33.7% in Q4 2025 according to ECB data.
STEP2 SDD Core volumes remain stable at approximately 45 million daily transactions in Q1 2026. Direct debits face no viable instant alternative, positioning batch clearing infrastructure toward debit-dominated use cases going forward. The IPR deadline for payment institutions and e-money institutions to send and receive SCT Inst is 9 April 2027, pointing to a further migration wave ahead.