Portuguese Payment Systems Interbank Commission (Comissão Interbancária para os Sistemas de Pagamentos – CISP)
Set up in 1997, the Payment Systems Interbank Commission (CISP) is an advisory body supporting Banco de Portugal in all activities related to promoting the development, regulation, standardisation, efficiency, and security of payment systems and instruments in Portugal.
In addition to Banco de Portugal, which chairs the Commission, the following are permanent members of the CISP:
- Portuguese Banking Association (Associação Portuguesa de Bancos – APB)
- SIBS Forward Payment Solutions, S.A.
- Portuguese Treasury and Debt Management Agency
Payment service providers operating in Portugal which participate significantly in payment systems and instruments are non-permanent members.
To pursue its mission and objectives, CISP’s structure is organised at three levels:
- Plenary (CISP);
- Executive Commission (CE-CISP);
- Interbank Working Groups (IWG) and Task Forces (TF).
Based on its organisational structure, CISP seeks to:
- Promote interbank cooperation for developing and modernising payment systems and instruments, for greater efficiency and transparency of market practices and for minimising actual or potential risks;
- Identify the strategic themes and define work priorities;
- Adopt common positions or statements to the benefit of development, efficiency and security of payment systems and instruments in Portugal, in the form of proposals for intervention addressed to Banco de Portugal.