Portugal is home to one of Europe’s most sophisticated and widely used local payment methods: Multibanco. For businesses operating in Portuguese retail or e-commerce, understanding this system is part of the strategy. Whether you're looking to cut transaction fees, build trust with local shoppers, or reduce friction at checkout, Multibanco deserves your attention.
What is Multibanco?
Multibanco is Portugal’s national interbank network, and it does a lot more than just handle payments. Created by SIBS, it links nearly 30 banks across the country and gives people access to over 90 different services, from paying bills to buying train tickets.
But what really sets it apart is how woven it is into everyday life. People rely on Multibanco for many things other than making payments. Whether it's through their bank’s app, online portal, or an ATM down the street, it's there when they need it. That’s part of why it’s still one of the most trusted options, especially for post-purchase payments.
How the Multibanco payment flow works
When a customer selects Multibanco at checkout, the platform generates a voucher containing three key pieces of information: a reference number, an entity number, and the transaction amount. This voucher can remain valid for up to seven days, giving the shopper time to complete payment.
Customers use their preferred channel to finalise the transaction. They can input the voucher details via their bank's online banking portal or mobile app.
Alternatively, they can complete the payment at any ATM. With over 13,000 ATMs in Portugal, it's a widely accessible experience that aligns with consumer habits. The transition from e-commerce checkout to ATM or banking app is familiar and frictionless, allowing the customer to pay on their own schedule.
Integrating Multibanco for your business
API-based integration with Antom
To accept Multibanco payments, businesses can integrate through Antom’s single API gateway. This approach enables access to not only Multibanco but also a wide array of local payment methods via one platform. Antom offers both sandbox and live environments, complete with localised documentation and developer resources to help you go from concept to live deployment smoothly.
Settlement and refund policies
Most Multibanco transactions are settled within two business days, providing a predictable cash flow cycle. While full refunds are generally supported, partial refunds depend on the bank and payment platform capabilities. Antom clearly outlines refund logic and provides configuration options that minimise disruption for both you and your customers.
Market insights: Multibanco’s reach in Portugal
Adoption rates and usage trends
In 2024, Multibanco reference codes were the most offered payment option by 24% of Portuguese e-commerce retailers—well ahead of debit cards or MB Way, each offered by 17%. This signals a distinct merchant-side preference for methods that reduce abandonment and improve success rates.
Earlier data support its real-world dominance: back in 2019, transaction values via Multibanco were roughly 50% higher for shopping than for cash withdrawals.
Consumer trust and familiarity
Multibanco’s ATM network is not only large but also multifunctional. In 2023, withdrawals via Multibanco ATMs amounted to €27.8 billion, while payment and special services added another €9.1 billion. That includes everything from paying utility bills and taxes to topping up mobile phones or purchasing cinema tickets.
Such diversity in use cements Multibanco as more than a financial tool. For many customers, it's a dependable utility embedded in daily habits, reinforcing trust and supporting high conversion for businesses that accept it.
Security and risk management
How Multibanco prevents fraud
Unlike card-based payments that may trigger chargebacks, Multibanco transactions are authenticated via PIN or secure banking credentials. There's no need for the merchant to handle sensitive data, reducing exposure. The absence of chargebacks also simplifies reconciliation and limits operational disruption.
Compliance made simple with Antom
Antom supports PCI DSS-compliant integrations, which allows merchants to stay aligned with both local and global regulations. Data is handled securely, and user privacy is prioritised. Whether you're dealing with a customer in Lisbon or Porto, compliance and security come built-in.
Why Multibanco is a must for merchants in Portugal
Adding Multibanco as a local payment method means you can meet customer expectations head-on. It’s a proven way to reduce checkout abandonment and increase your conversion rate. Compared to international card schemes, acceptance rates for Multibanco are higher, especially among customers who prefer familiar banking tools over newer alternatives.
To accept Multibanco, you don’t need to overhaul your system. You just need the right partner to help you integrate, configure fees transparently, and enable fast settlements. When the customer pays using a method they know and trust, the result is higher satisfaction and fewer failed transactions.
How Antom supports Multibanco integration
If you’re looking to offer Multibanco to your customers in Portugal, Antom gives you a simple way to do it. You don’t need to piece together multiple systems — everything is managed from one platform.
From the first setup to handling bank transfers or ATM-based payments, the process is built to save you time. You’ll also have access to clear documentation and a local team that can answer questions or guide you through reconciliation.
Whether you're just getting started in Portugal or expanding your payment options, Antom helps make sure everything runs smoothly.
