What Is MB WAY?
WalletMB WAY is Portugal's leading mobile payment solution, operated by SIBS (Sociedade Interbancária de Serviços), the company behind Portugal's Multibanco ATM and payment network. With over 5 million active users, MB WAY enables instant transfers, in-store contactless payments, online checkout, and cash withdrawals from ATMs — all from a smartphone app linked to a Portuguese bank account.
How It Works
1. **Selection**: The customer selects MB WAY at online checkout or opens the MB WAY app for P2P transfers and in-store payments. 2. **Phone Number**: The customer enters their registered phone number to identify their MB WAY account. 3. **Push Notification**: The customer receives a push notification in the MB WAY app (or their bank's app) with the payment details. 4. **Authentication**: The customer authenticates using their MB WAY PIN or biometrics. 5. **Confirmation**: The customer reviews the amount and merchant, then confirms the payment. 6. **Processing**: SIBS processes the payment through the Multibanco network, debiting the customer's bank account instantly. 7. **Notification**: Both merchant and customer receive confirmation of the completed transaction.
Key Details
Instant
Free for consumers
€750 per P2P transfer, higher for merchant payments (bank-dependent)
1 countries
Pros & Cons
- Dominant position in Portugal with 5M+ active users — essential for any merchant targeting Portuguese consumers, with significantly higher trust than international payment methods.
- Built on the Multibanco infrastructure that is already universal in Portugal, ensuring seamless interoperability with all Portuguese banks and payment terminals.
- Free for consumers across all payment types (P2P, online, in-store, ATM), driving high adoption and preference over card-based and international wallet alternatives.
- Unique features like cardless ATM withdrawals and virtual card generation add utility beyond standard mobile payment functionality.
- Supported by major international PSPs (Adyen, Stripe), making it straightforward for international merchants to add MB WAY to their Portuguese checkout flow.
- Portugal-only — MB WAY does not work outside Portugal and requires a Portuguese bank account, excluding international customers and tourists.
- P2P transfer limits are relatively low (€750 per transaction) compared to direct bank transfers, making it less suitable for high-value payments.
- Dependency on the SIBS/Multibanco monopoly means limited competition in pricing and innovation for the Portuguese market.
- The push notification confirmation flow adds a step compared to tap-to-pay solutions, which can slightly slow the in-store checkout experience.
Use Cases
- E-commerce checkout for merchants selling to Portuguese consumers — MB WAY is the preferred online payment method in Portugal and improves conversion rates versus card-only checkout.
- Person-to-person instant transfers for splitting bills, repaying friends, and casual payments among Portuguese users.
- In-store contactless payments at Multibanco terminals across Portugal, replacing cash and physical card use.
- Cardless ATM withdrawals for Portuguese consumers who want to access cash without carrying a physical bank card.
- Subscription and recurring payments for Portuguese services including streaming, utilities, and memberships.
MB WAY is the dominant mobile payment platform in Portugal, developed and operated by SIBS, the interbank company that manages Portugal's entire Multibanco payment infrastructure. Launched in 2014, MB WAY has grown to over 5 million active users in a country of approximately 10.3 million people, making it one of the highest per-capita mobile payment adoption rates in Southern Europe.
## SIBS and the Multibanco Ecosystem
To understand MB WAY, it helps to understand Multibanco. Multibanco is Portugal's unified ATM and payment terminal network, operated by SIBS since 1985. Unlike most countries where ATM networks are fragmented by bank, Multibanco connects all Portuguese banks into a single interoperable system. With over 12,000 ATMs and 300,000+ payment terminals nationwide, Multibanco is deeply embedded in Portuguese financial life — used for everything from ATM withdrawals and card payments to utility bill payments, tax payments, and government services.
MB WAY extends this infrastructure to smartphones. It is essentially Multibanco for the mobile era, carrying forward the trust, ubiquity, and interoperability that Portuguese consumers already associate with the Multibanco brand. Like Multibanco, MB WAY works across all participating Portuguese banks through a single app (or through bank-specific integrations).
## How MB WAY Works
Users register for MB WAY through their bank's app or at a Multibanco ATM, linking their bank account or Multibanco card to their phone number. Once activated, MB WAY enables several payment functions:
**Person-to-Person Transfers**: Users send money instantly to other MB WAY users by entering their phone number and the amount. Transfers are free and settle in real time, even between different banks.
**Online Payments**: At checkout on Portuguese e-commerce sites (and international sites that support MB WAY through PSPs like Adyen or Stripe), customers select MB WAY, enter their phone number, receive a push notification, and confirm in the app. This eliminates the need to enter card details online.
**In-Store Payments**: MB WAY supports contactless NFC payments at any terminal that accepts Multibanco contactless. Users can tap their phone to pay, similar to Apple Pay or Google Pay, but using their bank account directly.
**ATM Withdrawals**: A unique feature of MB WAY is cardless ATM withdrawals. Users can generate a withdrawal code in the app and use it at any Multibanco ATM to withdraw cash without a physical card.
**Virtual Cards**: MB WAY can generate virtual Multibanco cards for online purchases, providing an additional layer of security by creating single-use card numbers.
## Fees
MB WAY is free for consumers. Person-to-person transfers, online payments, in-store payments, and ATM withdrawals all carry no fees for the user. For merchants, MB WAY transaction fees are competitive with card processing — typically negotiated through their acquiring bank or PSP. Pricing varies but is generally in line with domestic debit card rates in Portugal.
## Adoption and Growth
MB WAY's growth has been exceptional, particularly since 2020. The platform saw explosive adoption during the COVID-19 pandemic as Portuguese consumers shifted to digital and contactless payments. By 2024, MB WAY had surpassed 5 million active users, with transaction volumes growing 30-40% year over year. The platform now processes millions of transactions daily across P2P transfers, e-commerce payments, and in-store purchases.
The Portuguese government has actively encouraged MB WAY adoption as part of its broader digital payment and tax compliance strategy. MB WAY payments create a digital trail that supports VAT compliance and reduces the shadow economy.
## International PSP Support
MB WAY is available as a payment method through major PSPs including Adyen and Stripe, making it accessible to international merchants selling to Portuguese consumers. For any e-commerce business with meaningful traffic from Portugal, adding MB WAY to the checkout can significantly improve conversion rates, as many Portuguese consumers prefer it over entering card details.
