With Multibanco, you can offer your Portuguese customers a local payment method they already know, directly on your online store. Multibanco is widely recognized and used locally, making it an obvious choice if you sell to customers in Portugal.
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Multibanco is a voucher-based payment method in Portugal. The customer receives a voucher with payment details and subsequently pays via their online banking or at an ATM. Multibanco is targeted at the Portuguese market, and all payments are processed in euros (EUR).
The customer selects Multibanco at checkout on your online store, but the actual payment takes place afterwards, outside the checkout process. This is because the customer receives a voucher with the details required to pay.
The voucher contains an entity, a reference, and the amount. Using these details, the customer pays either via online banking or at an ATM. Once the payment is registered, the transaction is confirmed.
The payment is processed as a bank transfer, so it can take several days before it is confirmed, especially over weekends and around banking holidays. Multibanco therefore works differently than card payments, which are approved instantly.
Interested in offering Multibanco as a payment method on your webshop? You can activate Multibanco directly from your pensopay account and give your Portuguese customers a local, trusted payment option.
Read more about how to get started with Multibanco.
Feel free to contact us at support@pensopay.com if you have any questions or are unsure whether Multibanco is the right payment option for your store.
If you sell to customers in Portugal, Multibanco is an ideal payment method to offer on your website. Here is an overview of the key advantages for both your store and your customers.
Local familiarity
Your customers in Portugal pay using a method they already know and trust. Because Multibanco is a household name, offering it builds immediate credibility.
Secure payments via their own bank: Customers pay directly through their online bank or at a local ATM using the details provided on the voucher.
Easy refund management
You can refund a Multibanco transaction up to 365 days after the original payment date. Refunds typically reach the customer's bank account within one day, depending on their financial institution.
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