The Irish Payment Services Organisation Limited (IPSO) was established in June 1997. IPSO is the representative body for payments in Ireland. Its primary objective is to preserve the integrity and security of its payment systems. It also has responsibility to modernise the payments industry in Ireland.
IPSO provides central programme management for key industry initiatives such as fraud prevention, the National Payments Implementation Programme (with the Department of Finance), SEPA (Single Euro Payments Area) implementation and the rollout of Chip and PIN. IPSO also monitors and promotes payments industry interoperability and standards development. It facilitates innovation and assists in the design of payment systems development.
There are two clearing companies and two payment schemes operating under the IPSO umbrella. Each company has its own board of directors. IPSO is a company limited by guarantee and not having a share capital.