The dispute involving Banco de Portugal (BdP) was officially submitted to the Administrative Court of the Lisbon District on April 29.
The controversy centers on European legislation, which Banco de Portugal and SIBS interpret differently, particularly regarding the separation between payment systems and processing systems. There are also corrective measures imposed by the banking supervisor and regulator on the company that owns Multibanco and MB Way.
In January, it was reported that SIBS had filed an administrative lawsuit against Banco de Portugal at the Administrative Court of the Lisbon District.
Both SIBS and BdP declined to offer comments when contacted.
Regarding this matter of European legislation, BdP is currently reviewing SIBS’s compliance with its directives. Depending on the findings, further actions may be taken. BdP also refrained from commenting on this issue.
The relationship between SIBS and Banco de Portugal has seen several conflicts in recent years. In 2022, Banco de Portugal issued a corrective measure directing SIBS to ensure independence between payment systems with cards and processing entities operating in Portugal, establishing equal conditions for all operators seeking to enter the Portuguese payment market.
In March of the previous year, the Competition Authority (AdC) fined SIBS nearly 14 million euros for abusing its dominant position in the payment services sector, as the group had conditioned access to payment systems on the mandatory procurement of its processing services.
SIBS legally contested the decision at the Competition, Regulation, and Supervision Court.
SIBS is owned by a consortium of major banks operating in Portugal, with primary stakeholders including Caixa Geral de Depósitos, BCP, Santander, and BPI.
