{ "jurisdiction_id": "PT", "jurisdiction": "Portugal", "url": "https://payments.gi/jurisdictions/portugal/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 69, "source_register": 148 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/portugal/#w1a-licensing-authorisation-market-access", "standing_position": "Portugal operates under the RJSPME (Decree-Law No 91/2018) transposing PSD2/EMD2, supervised by Banco de Portugal, with MiCA now transposed via Law 69/2025 and PSD3/PSR migration expected 2027.", "findings": [ { "finding": null, "instrument_type": "Decree-Law 91/2018 (RJSPME) / Executive Order 239/2019", "source": "https://www.bportugal.pt/en/page/application-authorisation-payment-institution", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Executive Order 239/2019", "source": "https://www.bportugal.pt/en/page/application-authorisation-payment-institution", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Decree-Law 91/2018 (RJSPME)", "source": "https://www.bportugal.pt/en/page/application-authorisation-electronic-money-institution", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "RGICSF (Decree-Law 298/92)", "source": "https://www.bportugal.pt/en/page/application-authorisation-credit-institution", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market structure", "source": "https://www.lexology.com/library/detail.aspx?g=9d6a1d79-da88-4996-9cb8-ee768a1702a5", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "practical licensing timeline", "source": "https://crassula.io/guides/licenses/portugal-emi-pi/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Safeguarding of PI/EMI client funds follows the PSD2 Article 10 segregation-or-insurance model, supervised by Banco de Portugal alongside its broader banking conduct supervision mandate. BdP has tightened internal-control and governance expectations via Notice 2/2025, and financial-promotion/advertising rules for products and services remain under active regulatory development.", "findings": [ { "finding": null, "instrument_type": "PSD2 Article 10 safeguarding", "source": "https://www.eba.europa.eu/single-rule-book-qa/qna/view/publicId/2020_5264", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct supervision mandate", "source": "https://www.bportugal.pt/en/page/banking-conduct-supervision", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "Banco de Portugal Notice No 2/2025", "source": "https://practiceguides.chambers.com/practice-guides/banking-regulation-2026/portugal/trends-and-developments", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "advertising/promotions rulemaking", "source": "https://abreuadvogados.com/en/conhecimento/publications/mica-in-portugal-highlights-of-the-new-implementing-law/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "enforcement of conduct rules", "source": "https://www.iflr.com/article/2fn8ndkg7a80l45uq4dmo/sponsored/banking-finance-guide-2025-portugal", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w2-stablecoins-digital-money", "standing_position": "Portugal completed MiCA implementation via Law 69/2025 (published 22 December 2025), establishing a twin-peaks CASP supervisory model splitting duties between Banco de Portugal (prudential, ARTs/EMTs) and CMVM (conduct, other crypto-assets). A transitional window for pre-MiCA-registered entities runs to 1 July 2026. Prior to this law Portugal had no dedicated national stablecoin framework.", "findings": [ { "finding": null, "instrument_type": "Law 69/2025 (MiCAR implementing law)", "source": "https://www.dlapiper.com/en/insights/publications/2025/12/legal-alert-portugal-implements-laws-on-crypto-assets-and-transfer-of-funds-regulations", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Law 69/2025", "source": "https://coincentral.com/bison-bank-launches-portugals-first-mica-compliant-stablecoin/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Law 69/2025", "source": "https://www.macedovitorino.com/en/knowledge/insights/New-rules-for-the-crypto-asset-market/6865/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "prior legal vacuum", "source": "https://abreuadvogados.com/wp-content/uploads/2025/12/Country-Update-Portugal-Crypto-asset-regulation-2025.pdf", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market development", "source": "https://coingeek.com/portugal-bison-bank-expands-into-crypto-with-stablecoin-initiative/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w3-operational-resilience-critical-infrastructure", "standing_position": "DORA (Regulation (EU) 2022/2554) has been fully applicable since 17 January 2025, with Banco de Portugal designated as the national ICT-incident focal point and mandated to cooperate formally with ASF and CMVM. This layers atop pre-existing PSD2-based major-incident reporting obligations (Instruction 01/2019).", "findings": [ { "finding": null, "instrument_type": "DORA national implementing law", "source": "https://www.mlgts.pt/en/knowledge/legal-alerts/Legal-Alert-Implementation-of-the-DORA-Regulation-in-Portugal/26484/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "sanctions regime", "source": "https://www.mlgts.pt/en/knowledge/legal-alerts/Legal-Alert-Implementation-of-the-DORA-Regulation-in-Portugal/26484/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Instruction of Banco de Portugal No 01/2019", "source": "https://www.bportugal.pt/en/page/legislation-and-regulations-psd2", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "DORA scope", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/portugal/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "national supervisory posture", "source": "https://cyberupgrade.net/blog/compliance-regulations/dora-regulations-in-portugal-and-impact-for-all-industries/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w4-scheme-network-compliance", "standing_position": "Multibanco, operated by SIBS, is Portugal's dominant domestic card/interbank scheme, co-badged with Visa/Mastercard for international use. Interchange fees are capped under EU Regulation 2015/751. SIBS was fined by the national competition authority in 2024 for tying scheme access to its processing services.", "findings": [ { "finding": null, "instrument_type": "Regulation (EU) 2015/751 (Interchange Fee Regulation)", "source": "https://www.bportugal.pt/en/perguntas-frequentes/258", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "AdC competition enforcement", "source": "https://www.concorrencia.pt/en/articles/adc-fines-sibs-group-abusing-its-dominant-position-accessing-domestic-payment-schemes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market concentration", "source": "https://www.concorrencia.pt/en/articles/adc-fines-sibs-group-abusing-its-dominant-position-accessing-domestic-payment-schemes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "domestic scheme structure", "source": "https://www.paymentyearbooks.com/sample-report/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "EC IFR application report", "source": "https://competition-policy.ec.europa.eu/system/files/2021-10/IFR_report_card_payment.pdf", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/portugal/#w5-payment-corridor-dynamics", "standing_position": "As a euro-area member, Portugal's cross-border rails run through the Eurosystem's TARGET2/T2 RTGS platform and TIPS instant-settlement service, with SEPA SCT/SCT Inst/SDD schemes governing retail euro payments. Portugal migrated to TARGET2 in the system's second wave in 2008.", "findings": [ { "finding": null, "instrument_type": "TARGET2 (Eurosystem RTGS)", "source": "https://www.bportugal.pt/en/page/target2", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "historical migration", "source": "https://en.wikipedia.org/wiki/TARGET2", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "TIPS (TARGET Instant Payment Settlement)", "source": "https://www.bportugal.pt/en/page/target-instant-payment-settlement", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "SCT Inst scheme", "source": "https://www.ecb.europa.eu/paym/retail/instant_payments/html/index.en.html", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W6", "name": "Industry Structure & Commercial Dynamics", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w6-industry-structure-commercial-dynamics", "standing_position": "Portugal's payments market is anchored by SIBS's Multibanco/MB WAY infrastructure with near-universal bank participation, alongside a growing layer of international PSPs (Stripe, Adyen, PayPal, Revolut) using EU passporting and domestic fintechs (Eupago, easyPay, ifthenpay) bridging SMEs into local rails. Banking remains concentrated among a handful of large groups, with NovoBanco's ownership in transition.", "findings": [ { "finding": null, "instrument_type": "market structure", "source": "https://thepaypers.com/payments/expert-views/portugal-an-analysis-of-payments-and-ecommerce-trends", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "competitive landscape", "source": "https://thepaypers.com/payments/expert-views/portugal-an-analysis-of-payments-and-ecommerce-trends", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "infrastructure dominance", "source": "https://practiceguides.chambers.com/practice-guides/fintech-2026/portugal/trends-and-developments", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "M&A / ownership transition", "source": "https://iclg.com/practice-areas/fintech-laws-and-regulations/portugal", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "sector profitability/concentration", "source": "https://www.lexology.com/library/detail.aspx?g=9d6a1d79-da88-4996-9cb8-ee768a1702a5", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w7-legal-litigation", "standing_position": "The most significant recent payments-sector enforcement action is the Portuguese Competition Authority's 2024 fine against SIBS for tying scheme access to processing services. Banco de Portugal separately runs sanctioning proceedings against credit institutions and payment institutions for AML, conduct, and consumer-information breaches, backed by broad inspection and fining powers.", "findings": [ { "finding": null, "instrument_type": "competition law enforcement", "source": "https://www.concorrencia.pt/en/articles/adc-fines-sibs-group-abusing-its-dominant-position-accessing-domestic-payment-schemes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "BdP enforcement powers", "source": "https://www.iflr.com/article/2fn8ndkg7a80l45uq4dmo/sponsored/banking-finance-guide-2025-portugal", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "BdP enforcement scope", "source": "https://www.uria.com/documentos/colaboraciones/3620/documento/portugal.pdf?id=13645_en&forceDownload=true", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "sanctioning process", "source": "https://www.bportugal.pt/en/page/oversight", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w8-merchant-acquiring-risk", "standing_position": "Card acquiring in Portugal is structurally dependent on SIBS scheme access for Multibanco/MB WAY acceptance, a dependency that was central to the 2024 AdC tying-abuse finding. International acquirers (Adyen, Worldline, and others) compete alongside SIBS-linked local providers, with acquirer liability for merchant chargebacks and fraud governed by general EU card-scheme and PSD2 conduct rules rather than a distinct Portuguese acquiring statute.", "findings": [ { "finding": null, "instrument_type": "acquirer/scheme access dependency", "source": "https://www.concorrencia.pt/en/articles/adc-fines-sibs-group-abusing-its-dominant-position-accessing-domestic-payment-schemes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "acquirer definition", "source": "https://www.concorrencia.pt/en/articles/adc-fines-sibs-group-abusing-its-dominant-position-accessing-domestic-payment-schemes", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "domestic acquiring/POS infrastructure", "source": "https://www.docs.pay.sibs.com/portugal/", "source_url": null, "source_tier": "2", "retrieved_at": null }, { "finding": null, "instrument_type": "acquirer/PSP infrastructure reliance", "source": "https://thepaypers.com/payments/expert-views/portugal-an-analysis-of-payments-and-ecommerce-trends", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w9-product-innovation-market-development", "standing_position": "MB WAY is Portugal's leading domestic mobile-payment product, built on SIBS rails. Regulatory sandboxes (Portugal FinLab, the Technological Free Zones/ZLT regime, and CMVM's Market4Growth sandbox) support fintech testing, while open banking/TPP adoption remains structurally slow due to Multibanco dominance. Banco de Portugal is engaged in the Eurosystem's digital euro project, now in its technical readiness phase.", "findings": [ { "finding": null, "instrument_type": "digital euro / CBDC", "source": "https://www.bportugal.pt/en/page/digital-euro-project", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory sandboxes", "source": "https://iclg.com/practice-areas/fintech-laws-and-regulations/portugal", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Portugal FinLab", "source": "https://www.bportugal.pt/en/page/fintech", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "open banking adoption", "source": "https://noda.live/articles/open-banking-in-portugal", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "product partnership", "source": "https://www.imarcgroup.com/portugal-fintech-market", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w10-consumer-protection-app-fraud", "standing_position": "Consumer protection in payments runs through Banco de Portugal's complaints book (Livro de Reclamações) and Bank Customer Website channels, alternative dispute resolution bodies, and Law 24/2023's financial-services consumer protection package. Fraud-related complaints have risen sharply as a share of total complaints, though BdP's own remedial power is limited to compliance verification rather than compensation orders.", "findings": [ { "finding": null, "instrument_type": "complaints channel", "source": "https://www.bportugal.pt/en/page/oversight", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "fraud complaint trend", "source": "https://www.theportugalnews.com/news/2024-04-12/banking-complaints-soar/87881", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "Law No. 24/2023", "source": "https://www.uria.com/documentos/colaboraciones/3620/documento/portugal.pdf?id=13645_en&forceDownload=true", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "BdP remedial limits", "source": "https://www.uria.com/documentos/colaboraciones/3620/documento/portugal.pdf?id=13645_en&forceDownload=true", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "ADR framework", "source": "https://clientebancario.bportugal.pt/en/consumer-disputes", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/portugal/#w11-aml-cft-financial-crime", "standing_position": "SENTINEL.GI POSITION (payments-context carry only). Banco de Portugal supervises AML/CFT compliance for its regulated entities under Law 83/2017, recently strengthened by Laws 70/2025 (Travel Rule/crypto-asset AML integration and AMLA cooperation) and 72/2025 (restrictive-measures sanctions regime). Portugal's most recent FATF assessment characterises its AML/CFT regime as sound and effective.", "findings": [ { "finding": null, "instrument_type": "AMLA cooperation", "source": "sentinel.dlapiper.com/en-us/insights/publications/2026/03/aml-cft-and-sanctions-in-2026", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": "Portugal has a technically sound AML/CFT legal framework (Law 83/2017 transposing EU AMLDs; RCBE beneficial-ownership register since 2018) supervised by Banco de Portugal (financial sector, incl. VASPs) and CMVM (securities). FATF's 2017 MER found the regime sound but flagged weak DNFBP implementation, low conviction rates and real-estate/legal-person vulnerabilities that persist structurally.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — Portugal", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: sourcing-thinness", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-005)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: absent-field-provenance", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-004)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Sanctions: EU listing", "instrument_type": "sanctions_change", "source": "FIM (sentinel.gi) sanctions_change_register (issue FIM-BASE-SANC-002)", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": "Gap: enforcement-absence", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)", "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": "Gap: legal-gap", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/portugal/#w12-correspondent-banking-settlement-access", "standing_position": "Portuguese credit institutions and, where enabled, non-bank PIs/EMIs access central-bank settlement via TARGET2/T2 and TIPS as Eurosystem participants, removing the need for a separate domestic correspondent-banking network for euro transactions. Banco de Portugal is part of the Single Supervisory Mechanism and Single Resolution Mechanism as the national resolution and supervisory authority.", "findings": [ { "finding": null, "instrument_type": "TARGET2 settlement access", "source": "https://www.bportugal.pt/en/page/target2", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "non-bank access to TARGET2", "source": "https://advapay.eu/settlement-and-clearing-systems-in-europe-sepa-target2-and-ebics-are-explained/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "SSM/SRM membership", "source": "https://www.bportugal.pt/en/page/the-bank-mission-and-tasks", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement-finality plumbing", "source": "https://en.wikipedia.org/wiki/TARGET2", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "Assessed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/portugal/#w13-commercial-intelligence-fintech", "standing_position": "Fintech investment in Portugal accelerated markedly in 2025, with the payments/crypto segment producing the country's most notable regulatory-linked product launch (Bison Bank's MiCA-compliant stablecoin). Banking-sector M&A (NovoBanco's ongoing sale) remains the largest structural transaction shaping the industry.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://tracxn.com/d/explore/fintech-startups-in-portugal/__38FtfxfYPbd2pJZUtqxCh8JGBgKppSUXFGloU3fktGw", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event", "source": "https://tracxn.com/d/explore/fintech-startups-in-portugal/__38FtfxfYPbd2pJZUtqxCh8JGBgKppSUXFGloU3fktGw", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event (product launch)", "source": "https://coingeek.com/portugal-bison-bank-expands-into-crypto-with-stablecoin-initiative/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event (M&A)", "source": "https://iclg.com/practice-areas/fintech-laws-and-regulations/portugal", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial_event (partnership)", "source": "https://www.imarcgroup.com/portugal-fintech-market", "source_url": null, "source_tier": "3", "retrieved_at": null } ] } ] }