The Irish Payment Services Organisation Limited (IPSO) was established in June 1997.[1] IPSO was a company limited by guarantee owned by its member banks.[2]
Its primary objective was to preserve the integrity and security of the bank payment system in Ireland - the systems used for the settlement of physical cheques as well as ATM transfers and debit and credit card purchases.
IPSO has nine shareholders. They are: AIB; Bank of Ireland; NIB; Ulster Bank; Permanent/TSB; First Active; the EBS; Bank Nationale de Paris; and the Central Bank.