Portugal has one of Western Europe's most distinctive payment environments. Domestic payment methods dominate the market, making local payment a baseline requirement for those entering the region.
MB WAY launched in 2015 as a mobile wallet built on the Multibanco infrastructure. Operated by SIBS, Portugal's national interbank network, MB WAY and Multibanco together account for approximately 80% of the country's ecommerce transactions.
It’s supported by 28 banks, covering 95% of the Portuguese banking market. As of July 2025 it has 6.5 million users, equivalent to 75% of Portugal's banked population. In total, it processes over 1 billion transactions annually.
The underlying interbank network, Multibanco, has more than 23.7 million cards in circulation across a country with a population of around 10 million, delivering a market-leading penetration rate that few payment networks in Europe can match.
How MB WAY and Multibanco work at checkout
MB WAY operates through a native smartphone app linked to the consumer's existing bank account. At checkout, the shopper selects MB WAY, enters their mobile phone number, and confirms the transaction via PIN or biometric authentication within the app. No card details or wallet funding is required, with the payment authorised within the consumer's banking environment.
Consumer trust in the method is underpinned by existing banking relationships, and has recognition as more than a payment method provider. This trust and exposure translates directly into higher conversion: 76% of online shoppers choose MB WAY when it is presented at checkout, and according to SIBS Analytics, 94% of MB WAY users always pay with it when given the option.
Multibanco operates on a deferred payment model. When a consumer selects the method at checkout, the merchant's platform generates a payment reference (entity number, reference number, and transaction amount) which the shopper uses to complete payment. This is done via online banking, their mobile banking app, or at any of Portugal's 12,000+ ATMs. The reference typically remains valid for up to seven days, giving the consumer flexibility on when and how to pay.
This model is particularly well-suited to higher-value purchases, where consumers prefer to verify the transaction through their bank before confirming. Around 20% of ecommerce payments in Portugal use Multibanco references, and in 2024 it was the most commonly offered payment method by Portuguese ecommerce retailers.
MB WAY’s market positioning
MB WAY handles 45% of Portugal's ecommerce transactions by market share, ranking it ahead of all other payment methods for online purchases. Together with Multibanco, they account for roughly 80% of the country's ecommerce market. This offers a major advantage for merchants looking to enter the Portuguese market at scale.
Growth is ongoing. During the 2025 Christmas season, SIBS Analytics reported a 36% year-on-year increase in the number of MB WAY ecommerce transactions and a 31% rise in transaction value, compared to the same period in 2024. Adoption is also skewed towards younger audiences: 57% of young adults in Portugal use MB WAY for ecommerce purchases.
Beyond ecommerce, a single MB WAY integration covers peer-to-peer transfers, NFC contactless payments in-store, and mobile commerce — removing the need for separate technical implementations across channels.
Advantages for merchants
The practical implication for merchants is straightforward: a Portuguese consumer who reaches checkout and sees MB WAY or Multibanco is more likely to complete their transaction. Over 80% of Portuguese adults regularly use at least one of these methods, and checkout expectation has been determined by the domestic retail environment.
MB WAY adoption has grown 15% year-on-year, and its expansion is not limited to Portugal. SIBS has confirmed that MB WAY transfers will become available across 13 European countries by year end 2026, with an initial phase covering several EU markets. For merchants building a multi-market strategy in Southern and Western Europe, the network expansion adds further incentive to include MB WAY.
How payabl. makes MB WAY integration simple
Accessing MB WAY and Multibanco through payabl. removes the need to manage separate acquiring relationships or additional gateway connections.
Once live, both methods sit alongside 300+ payment methods in one dashboard. You get full visibility over transaction performance, settlement timelines, and payment status across Portugal and every other market you operate in.
payabl.’s checkout solution supports the full MB WAY flow. Mobile authentication, Multibanco reference generation, and real-time confirmation are covered, so there's no need to build or maintain separate technical setup.