TARGET2
The Eurosystem’s Real-Time Gross Settlement system for high-value euro payments.
TARGET2 is a same day payment rail routed by KeyBS Pay. The Eurosystem’s Real-Time Gross Settlement system for high-value euro payments.
Payouts routed through TARGET2 settle to beneficiary accounts in EU. Where TARGET2 is available for the destination country, it is the default rail for eligible payouts.
Every TARGET2 payout is subject to KYB, KYC and sanctions screening. Pricing is disclosed in full before approval; failed payouts return a signed webhook event with a machine-readable reason code and remain refundable per program policy.
Corridor mechanics at a glance
Every KeyBS Pay payout follows the same operational contract; only the rail changes.
How a TARGET2 payout moves through KeyBS Pay
TARGET2 settles in same day on eligible EUR destinations.
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TARGET2 by industry
TARGET2 developer resources
Frequently asked questions
What is TARGET2?
The Eurosystem’s Real-Time Gross Settlement system for high-value euro payments.
How fast is TARGET2?
Same day. Actual settlement time is disclosed pre-approval and confirmed by signed webhook once the beneficiary bank acknowledges the credit.
Which countries can I reach through TARGET2?
EU. Availability is beneficiary-bank-dependent; the router falls back to wire if the beneficiary bank is not on TARGET2.
What currencies are supported on TARGET2?
EUR is the primary settlement currency for TARGET2. Multi-currency corridors are supported where the rail permits.
What limits apply on TARGET2?
Rail-specific ceilings apply; the platform surfaces them pre-approval. Higher-value transactions are automatically routed to wire.
Is TARGET2 available 24/7?
Real-time rails (others) operate around the clock. Batch and wire rails follow the local banking window.
How do I integrate TARGET2?
You don’t. KeyBS Pay abstracts rail selection: submit a payout to POST /v1/payouts and the router picks the fastest eligible rail. Use "method": "auto" (default) or force a specific method where policy requires.
Is TARGET2 regulated?
Yes. KeyBS Pay routes TARGET2 payouts only through partners licensed for the destination corridor.
Can I get a TARGET2 settlement report?
Yes. Per-rail, per-corridor reconciliation reports are available in the dashboard and via API export.
What happens if a TARGET2 payout fails?
Failed payouts return a signed webhook event with a machine-readable reason code. Funds remain in the source ledger and can be re-routed or refunded.
How is pricing set for TARGET2?
Quote-based, disclosed in full pre-approval. No undisclosed intermediary-bank deductions on eligible local rails.
Can I use TARGET2 for consumer payouts?
Yes, where the beneficiary and route policy permit consumer flows. Stablecoin routes are business-only.
Are there cutoffs on TARGET2?
Real-time rails have no cutoffs. Batch and wire rails follow local banking-day windows; cutoffs are shown at quote time.
Does TARGET2 support idempotent retries?
Yes. Every KeyBS Pay payout carries an Idempotency-Key so retries after transient errors are safe.
Which industries use TARGET2 most?
Marketplaces, cross-border trade, workforce and NGO programs are the largest users of TARGET2 on the KeyBS Pay platform.
Route your first TARGET2 payout
Rail selection is automatic — you never have to pick one manually unless program policy requires it.