History

During the 1990s important reforms began in the Cape Verdean financial system, which led to the disengagement of the commercial and development/investment functions of Banco de Cabo Verde and, as a consequence of these reforms, we went from a monobank system to a two-level system: monetary and financial authorities and credit institutions (bank and non-bank).



The country's authorities established liberalization and modernization of the financial system as a priority. Thus, led by Banco de Cabo Verde, the creation of SISP was proposed as part of a strategy to modernize the system and means of payments and to create conditions to improve the services offered, especially to tourists, emigrants and businessmen. SISP was created in 1999 and the company's main objective was the promotion and use of electronic means of payment, through the installation and management of a national interbank network - vinti4 network.



Initially with the options to Withdraw Money, Check Balances and Transactions, Request Checks and Change PIN (secret code), the first steps were taken towards the emergence of a new brand (vinti4) and of a new service, hitherto unknown to the public, which would revolutionize the concept of service provision in the country and become, over time, a benchmark in the national context.



In 2000, the year that marked the full start of SISP's activities, 12 ATMs were installed, covering the country's main population centers, namely Praia, S. Vicente, Sal and Santa Catarina. The process to expand and cover all islands and municipalities began, with the installation of machines on the islands of Fogo and S. Antão and, at the same time, conditions were being created for the expansion to be accompanied by the introduction of new products and services, with a view to increasing the use of cards as a means of payment.



A pilot phase was started in 2001 with the introduction of the automatic payment service, with 8 POS terminals being installed that year. The role and importance of SISP in the Cape Verdean economy and society was already recognized by all and the expectations around the company were increasing. Thus, during 2002, we began a process to consolidate the services already offered, while at the same time trying to expand the network's national coverage, and we started negotiations to get Visa International membership. As a result, there were changes that had a significant impact both inside and outside the company and which, in 2003, resulted in the installation of a new technology platform and the availability of new options on the network, namely: prepaid mobile phone minutes, Interbank Transfers and Services Payments.



In 2004, VISA cards started being accepted and the first transaction was made using a Visa card on the vint4 network. The following year, the process of expanding its acceptance through POSs began. At the same time, an important step was taken to allow cardholders and mobile phone carriers to make some transactions previously available only on ATMs, through mobile phones - launch of the Televinti4 service.



In July and October 2008, MasterCard was accepted on all vinti4 machines (ATMs) and POSs, respectively.

Today, SISP can rightly be considered as an essential company for the national financial system and a key pillar for the modernization of the system and means of payment, as evidenced by the network of vinti4 machines (0), POS's (about 6400 establishments), more than 0,000 card users, and more than 0 million transactions/year.



SISP is today a leading company in the country, whose impact goes beyond the social context, allowing citizens greater comfort and ease in their relationship with banking institutions and beyond, but also because of its importance as a source for attracting foreign currency, and a factor for promoting access to banking services and for dematerializing payment transactions, affording the payment system greater liquidity, speed, security and transparency in payments.

Shareholder Structure

The Sociedade Interbancária e Sistemas de Pagamentos (Interbank Company and Payment Systems), abbreviated as SISP, is a public limited company headquartered on Santiago Island, with a fully subscribed and paid share capital of 100,000,000 CVE (100 million escudos), represented by 100,000 shares with a nominal value of 1,000 escudos each, held and distributed according to the following graph: