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Multibanco: Portuguese’s favourite payment method for online shopping

Cyril Blondel
Updated on 02 February 2024 by Cyril Blondel
Reading Time: 2 minutes

Multibanco is the domestic payment system enabling Portuguese shoppers to pay for goods or services purchased online using ATMs or online banking.

With Payplug, enable your customers to pay for their online purchases using this reliable Portuguese payment method!

Multibanco in numbers

Online Banking, Payment Terminal, ATM: the Multibanco network has the highest rate of ATMs per inhabitant in Europe with more than 14,000 ATMs in Portugal and more than half of the population using them to pay telephone or electricity bills.

Multibanco represents more than 20% of online sales with more than 23 million cards circulating Visa, Mastercard or American Express.

How does Multibanco work?

At checkout, the buyer selects Multibanco as a payment method and is provided by Payplug with its Multibanco ordering details. Then he can either:

  • Pay by bank transfer immediatly through his online bank account;
  • Go to an ATM or at a point of sale to pay by debit card or cash, after entering his reference number. In the case of the ATM, the latter automatically issues a receipt that acts as proof of payment.

What are the advantages of Multibanco?

Multibanco is an omnichannel payment method that offers buyers great flexibility: they can pay where and when they want, through the channel of their choice.

It's a reliable payment method: since payment is made directly between the customer and his bank, the risk of fraud and chargeback is very low.

Part of the very strong security of the system lies in the card holder verification performed at ATM or POS using the card PIN, while no card or banking information has to be shared when paying online.


Multibanco with Payplug

Multibanco protects merchants against unpaid bills. It also protects its users via PIN authentication as well as Multibanco ordering code for DAP / TPE or by login code as well as Multibanco order code for online banks.

With Payplug, merchants have access to deferred payment, D+2 payments and financial reconciliation. They also benefit from comprehensive fraud management support and cutting-edge tools to maximise their payment performance.

If you're interested in developing your business in Portugal with Payplug, feel free to contact us!

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