Payment Methods in Portugal: Full Overview
Discover payment options in Portugal including MB WAY, Multibanco, and e-commerce solutions for businesses.
The exact change
MB WAY is Portugal's dominant mobile payment system, used by over 5 million people... The Multibanco ATM network (approximately 12,000 ATMs across Portugal). According to the Banco de Portugal Payment Systems Report 2024, online payment method share breaks down as: cards 34%, MB WAY 27%, Multibanco references 20%, PayPal 11%, bank transfer 4%, other 3%.
MB WAY is Portugal's dominant mobile payment system, used by over 6 million people... The Multibanco ATM network (approximately 13,000 ATMs across Portugal). Independent industry sources on Portuguese e-commerce checkout mix vary considerably (MB WAY estimates alone range from roughly 25% to over 40% depending on the merchant category and study), and the Banco de Portugal's own Payment Systems Report publishes aggregate transaction-volume and value figures rather than a granular per-method e-commerce breakdown.
Suggested change
Corrected the MB WAY mobile payment user count from 5 million to 6 million (appeared twice) and the Multibanco ATM count from 12,000 to 13,000. Also removed a fabricated "Banco de Portugal Payment Systems Report 2024" e-commerce percentage breakdown table that did not correspond to any real official report, and reworded the section to note no such official breakdown exists.
Why this is better
The MB WAY user count and Multibanco ATM count were understated, and a precise e-commerce payment-method percentage breakdown was unverified, attributed to a 'Banco de Portugal Payment Systems Report 2024' that does not publish any such granular split.
More by Emir Baycan in Portugal
- Correction Business Bank Account Requirements in Portugal
- Correction Portugal Fintech Regulations: Licensing and Compliance
- Correction Portugal Business Laws and Compliance Requirements
- Correction Data Protection Compliance in Portugal: CNPD Insights