The Cross-border Interbank Payment System (CIPS; Chinese: 跨境银行间支付清算有限责任公司) is a Chinese payment system that offers clearing and settlement services for its participants in cross-border renminbi (RMB) payments and trade. CIPS is backed by the People's Bank of China and was launched in 2015 as part of a policy effort to internationalize the use of China's currency.

In 2022, CIPS processed around 96.7 trillion yuan (US$14.03 trillion), with about 1427 financial institutions in 109 countries and regions having connected to the system.

In 2023, the CIPS processed 6.6133 million transactions, totaling RMB123.06 trillion (US$17.09 trillion), increasing by 50.29 percent and 27.27 percent y-o-y, respectively. On a daily basis, the system processed 25,900 transactions, totaling RMB482.602 billion (US$67.028 billion).

In 2012, the PBOC launched the construction of CIPS (phase 1). On 8 October 2015, CIPS (phase 1) was put into operation, with 19 direct participants and 176 indirect participants from 50 countries and regions across 6 continents. The launch of CIPS was another milestone in the construction of China's financial market infrastructure, which marked vital progress in developing China's modern payment system that integrated domestic, and overseas payments of RMB. CIPS significantly facilitated RMB being officially included in the special drawing rights (SDR).

In March 2016, SWIFT and CIPS signed a memorandum of understanding (MOU). With the ISO 20022 standard already adopted by CIPS for its payment system, SWIFT went through the implementation process of the standard that can allow the use of Chinese characters, in addition to its richer content functionalities.

In September 2017, as one of the MOU's plans signed between SWIFT and CIPS, reference data indicating financial institutions' direct and indirect participation in CIPS will be published via SWIFTRef and updated on a monthly basis. This data covers BIC, LEI, national bank codes, IBAN data, standing settlement instructions, credit ratings, and financial institutions' memberships to domestic and cross-border payment market infrastructures.

The main functions of the CIPS is to facilitate the processing of cross-border RMB business and to support the settlement of cross-border trade in goods and services, cross-border direct investment, cross-border financing, and cross-border individual remittance.

Based on the message scheme of ISO20022, and compatible with the current CIPS standards, CIPS Connector is the information exchange component between CIPS Direct/Indirect Participants and their institutional clients, and the application carrier of CIPS Standard.

CIPS participants are divided into two types: direct participants and indirect participants. Direct participants open an account in the CIPS, and directly send and receive messages through the CIPS, while indirect participants have indirect access to services provided by the CIPS through direct participants.

As of June 2025, CIPS has 176 Direct Participants and 1514 Indirect Participants. Among Indirect Participants, 1102 participants are from Asia (including 563 in mainland China), 261 from Europe, 61 from Africa, 34 from North America, 34 from South America, and 22 from Oceania.

CIPS participants are located in 121 countries and regions around the world. Business covers more than 4900 banking institutions in 189 countries and regions around the world.