Fact-checked by Grok 2 weeks ago

Multibanco

Multibanco is Portugal's leading interbank payment network, operated by (Sociedade Interbancária de Serviços), a company founded in to manage shared among banks. Established in 1985, it connects the automated teller machines (ATMs), point-of-sale () terminals, and digital platforms of nearly 30 Portuguese banking institutions, enabling seamless access to functions such as cash withdrawals (up to €400 per day), deposits, fund transfers, bill payments, and balance inquiries for over 6 million daily users. The network has evolved from its initial rollout with just nine ATMs into a comprehensive infrastructure comprising more than 12,000 ATMs nationwide, alongside hundreds of thousands of terminals, making it a cornerstone of Portugal's . Multibanco supports a variety of instruments, including debit, credit, and prepaid cards from major schemes like and , as well as the domestically developed MB WAY mobile wallet, which facilitates instant transfers and contactless payments via smartphones. Its versatility extends to , where consumers can complete online purchases using a unique entity code and reference number, paying later in cash at ATMs or counters without needing a , thereby enhancing accessibility for populations. Security is a defining feature, with real-time transaction monitoring, AI-driven fraud detection, and compliance with European payment standards ensuring high reliability across all channels. Over the decades, Multibanco has processed trillions of euros in transactions, adapting to digital shifts while maintaining its role in promoting cashless economies and financial inclusion in Portugal and beyond through SIBS's international expansions.

Overview

Description and Purpose

Multibanco is a owned and operated by (Sociedade Interbancária de Serviços S.A.), which connects the automated teller machines (ATMs) and point-of-sale () terminals of 29 banks across the country. This infrastructure allows customers to perform transactions at any participating terminal regardless of their bank's affiliation, promoting among . The primary purpose of Multibanco is to facilitate seamless access to essential banking services, including cash withdrawals, fund transfers, balance checks, and bill payments, using a standardized system. By enabling these operations through a unified network, it eliminates the need for customers to visit their specific bank's branches or use proprietary cards, thereby enhancing convenience and efficiency in everyday financial activities. Multibanco's unique aspects include its ubiquitous nationwide acceptance at approximately 13,000 ATMs and numerous locations, making it deeply integrated into daily life for purposes such as utility bill payments, fares, and highway tolls. As the dominant payment system in , it functions as the national standard, with the majority of debit cards issued by local banks bearing the Multibanco logo for universal compatibility. Launched on September 2, 1985, by —which was established in 1983—Multibanco represented a pioneering effort to modernize Portugal's banking sector through a shared network, initially with just nine machines in and . This development aimed to streamline access to and foster greater usage in the post-1974 democratic era.

Network Coverage and Infrastructure

The Multibanco network provides extensive physical infrastructure across Portugal, encompassing approximately 13,000 automated teller machines (ATMs) distributed nationwide, including urban centers, rural areas, and the Azores and Madeira islands, ensuring broad accessibility for users. As of the end of 2024, the network supports over 398,000 point-of-sale (POS) terminals, facilitating seamless debit card transactions at merchants throughout the country. This infrastructure achieves near-universal coverage, with ATMs and POS devices present in virtually all regions to support everyday banking needs without significant geographic barriers. Operated by SIBS (Sociedade Interbancária de Serviços), the network interconnects 29 major Portuguese banks, enabling full for Multibanco-branded debit cards across all participating institutions and their devices. This linkage allows cardholders from any affiliated bank to access services at any Multibanco ATM or terminal, promoting a unified national payment ecosystem. In terms of digital expansion, Multibanco integrates with online platforms and mobile applications, such as the MB WAY service, which leverages the core network for instant digital transfers and e-commerce payments. Multibanco cards also offer compatibility with international schemes like and , permitting their use abroad and acceptance of foreign cards at domestic terminals. The infrastructure maintains high reliability through 24/7 operation, managed by to ensure continuous availability for over 90 distinct services at and locations. In 2025, SIBS introduced AI-enhanced features to the ATM network, including voice guidance systems on all 13,000 machines to improve and accessibility, particularly for non-digital operations like cash withdrawals and bill payments. These upgrades underscore ongoing efforts to modernize the network while preserving its robust, nationwide functionality.

History

Establishment and Early Development

Multibanco was established through the efforts of , which was founded in 1983 by twelve major banking institutions to foster and develop shared in a still recovering from the nationalizations following the 1974 . This initiative addressed Portugal's cash-heavy economy, where access to banking services remained limited, particularly outside urban centers, by introducing automated alternatives to traditional manual transactions. The Multibanco network officially launched on September 2, 1985, beginning with nine automated teller machines (ATMs) installed in and , marking the debut of a nationwide shared . These initial ATMs were connected to a centralized computerized , enabling seamless transactions across participating banks for the first time in Portugal. Early Multibanco services focused primarily on cash withdrawals and balance inquiries, facilitated by magnetic stripe cards that users authenticated with a (PIN). This represented a significant shift from the predominant cash-based transactions, offering convenient, round-the-clock access to funds without needing to visit a specific bank branch. Initial adoption faced hurdles due to low among the population and the unfamiliarity of automated banking in a predominantly manual financial landscape. However, the system's novelty as Portugal's first automated banking solution led to rapid public uptake, quickly establishing Multibanco as a cornerstone of the country's financial .

Expansion and Key Milestones

During the , the Multibanco network underwent rapid expansion, growing from its initial launch to encompass 3,745 ATMs by 1995, which facilitated widespread access to banking services across . This period also saw the introduction of point-of-sale () terminals, enabling electronic payments at retail locations and broadening the network's utility beyond ATMs. In 1996, launched TeleMultibanco, an early service that served as a precursor to modern mobile solutions like MB WAY, allowing users to access account information and perform basic transactions via phone. The 2000s marked further advancements in digital integration, with capabilities incorporated into the Multibanco system starting in 2000, permitting secure internet-based transactions through participating bank sites. By 2006, the network had expanded to over 11,200 machines, reflecting sustained infrastructure growth and increased usage. Additionally, introduced MB NET, a virtual card service for secure purchases, which by 2009 had processed over 1 million payments and enhanced security within the ecosystem. A key technological shift occurred in the early 2000s with the to chip cards, improving fraud prevention across Multibanco-enabled cards and terminals in line with European standards. In the 2010s, Multibanco expanded to 12,700 machines by December 2014, supporting an average of over 75 million monthly operations and solidifying its role as Portugal's dominant payment infrastructure. The decade also featured the introduction of options at terminals and , streamlining in-store and transit transactions. In 2014, mobile services were rebranded as , evolving from earlier iterations to offer -based payments, transfers, and withdrawals. Cardless ATM withdrawals via the became available in the late 2010s, with full rollout by 2019, allowing users to generate QR codes or reference numbers for cash access without physical cards. Following a peak of around 14,300 ATMs in the early 2020s, the network experienced a decline to approximately 13,000 by 2025, reflecting the shift toward digital payment alternatives. Marking its 40th anniversary in September 2025, Multibanco introduced AI-powered voice guidance to its approximately 13,000 ATMs, providing spoken instructions in multiple languages to assist users, particularly the elderly and tourists, during operations like withdrawals and bill payments. This update, developed by , represents a modern evolution of the network's user-centric design.

Functionality

Core Services and Operations

Multibanco provides a comprehensive suite of over 90 banking and payment services accessible through its extensive network, enabling users to perform everyday financial transactions efficiently. These services encompass cash withdrawals, with a daily limit of up to €400 per , balance inquiries that display account details and recent activity, and fund transfers between accounts held at participating banks. Additionally, users can settle various bills, including utilities such as electricity and water, government taxes, and other invoices from thousands of suppliers using unique Multibanco reference numbers. The platform also facilitates purchases like transport tickets, event admissions, and electronic toll payments integrated with the system for seamless highway usage, including mobile payments via MB WAY for instant transfers. The operational flow of Multibanco transactions is designed for speed and reliability, beginning with users inserting a compatible into an or terminal, or entering a reference number for non-card payments. These inputs are then transmitted to the central (Sociedade Interbancária de Serviços) system, which authorizes and processes the request in , ensuring immediate confirmation and execution across the network. Multibanco demonstrates strong , primarily supporting Portuguese debit cards often branded with the Multibanco logo, while also connecting to international payment networks like and for use abroad or with foreign cards in . This compatibility extends to EMV-certified cards, allowing contactless, chip, or magnetic stripe transactions. For users without physical cards, reference-based payments offer a convenient alternative, particularly for and service providers, where a unique entity reference and amount are used to complete transfers without needing card details.

Technical Mechanisms

The Multibanco network operates through a centralized platform managed by SIBS (Sociedade Interbancária de Serviços), which facilitates interbank communication and processes transactions across participating financial institutions in Portugal. This architecture enables seamless connectivity for approximately 13,000 ATMs and over 390,000 point-of-sale terminals (as of 2024), supporting debit and credit card operations from major schemes like Visa and Mastercard. The system accommodates various card technologies, including chip-and-PIN for enhanced security, as most Portuguese Multibanco cards utilize EMV-compliant chips, with support for contactless NFC payments at compatible terminals. Transaction processing in Multibanco involves real-time authorization, where acts as a switch to route requests and provide stand-in approvals on behalf of issuers when needed, ensuring immediate responses at the point of interaction. Settlements occur in batches, typically within two business days, allowing for efficient clearing among network participants while maintaining balances. For cross-border compatibility within the , Multibanco integrates with the (SEPA), enabling euro-denominated transfers alongside local operations through SIBS's broader payment infrastructure. Non-card payments rely on a structured reference system consisting of a 9-digit : a 5-digit entity code identifying the payee, followed by a 4-digit reference (including sub-entity details and document ID) with 2 check digits for validation. This format ensures accurate routing and verification without requiring physical cards, supporting asynchronous processing where references are generated in real-time and expire based on merchant-defined limits. Key upgrades to the system include the migration to standards in the mid-2000s, which reduced fraud by replacing magnetic stripe reliance with chip-based dynamic authentication across Multibanco cards and terminals. For , provides integrations via its Gateway platform, enabling the generation of MB NET virtual cards—temporary, single-use credentials derived from users' linked Multibanco accounts to facilitate secure online purchases without exposing primary card details. In 2025, introduced AI-powered voice guidance for Multibanco ATMs, using synthetic speech to assist users through transactions, enhancing for visually impaired individuals and those preferring audio interactions.

Usage and Adoption

Transaction Statistics and Trends

Multibanco's transaction volumes have shown steady growth over the decades, reflecting Portugal's increasing reliance on electronic payments. In 2005, the network recorded 719 million transactions, primarily dominated by cash withdrawals, which accounted for the majority of activity during the and early 1990s when the system focused on basic services. By 2014, total transactions had risen to approximately 1.8 billion, marking a significant expansion in usage as functionalities expanded. This period also saw a pivotal shift, with payments surpassing withdrawals to represent over 50% of transactions by the , driven by the integration of terminals and online capabilities. Recent data underscores continued momentum in the network's operations. In June 2025, Multibanco processed more than 190 million electronic transactions, an increase from 170 million in June 2024, highlighting robust monthly activity. For the third quarter of 2025, the aggregate value of withdrawals and purchases via points of sale in the network rose by 8.0% year-over-year. In 2023, cash withdrawals totaled €26.4 billion. Key trends indicate a pronounced . By 2024, the Multibanco network handled over 693 million transactions, with more than 55% classified as digital or non-face-to-face operations, signaling a departure from traditional dominance. This shift accelerated in the , as mobile and online channels overtook usage in volume, supported by innovations like MB WAY and contactless payments. Seasonal patterns further illustrate this, with summer 2025 spending increasing by 9% in transaction numbers compared to the previous year. Looking ahead, reports project sustained growth in contactless transactions and integrations, with the Portuguese market expected to reach $6.45 billion by the end of 2025 and continue expanding at double-digit annual rates, bolstered by Multibanco's infrastructure. This trajectory aligns with broader adoption of digital wallets and seamless payment methods, positioning Multibanco for further volume increases into the late 2020s.

User Base and Economic Impact

Multibanco is ubiquitous among Portugal's adult , with approximately 31.5 million cards processed in 2024, exceeding the country's of around 10 million and enabling widespread access for over 70-80% of residents. Its extensive ATM network of over 15,000 machines ensures high adoption in rural areas, where coverage supports essential services despite geographic challenges. The system is also popular among tourists, as international cards from major networks like and are widely accepted at Multibanco ATMs for cash withdrawals and payments, facilitating seamless transactions for visitors. Economically, Multibanco plays a pivotal role in reducing reliance on , with ATM withdrawals declining by 5% in 2024 amid a shift to digital methods, contributing to comprising only about 7% of payments by 2025. It processed 11.7 billion transactions through its network in 2024, supporting small and medium-sized enterprises (SMEs) by powering over 20% of online sales and enabling 2.712 million transactions with a value of €31.5 million via the Gateway, a 58% increase in transaction volume from 2023. This infrastructure bolsters broader retail payments, which reached €776.7 billion in 2024, fostering economic efficiency and growth for businesses. Since its establishment in 1985, Multibanco has promoted by integrating with public services, allowing payments for taxes, utilities, and healthcare directly at ATMs or via linked apps, thereby extending access to underserved populations. Initiatives like "Ser Solidário" further enhance societal impact, raising €4.5 million in for over 300 non-profits through micro-donations at Multibanco points. Despite these benefits, challenges persist, particularly the affecting the elderly, who may struggle with app-based features; however, the ubiquity of ATMs mitigates this by providing accessible, non-digital alternatives. volumes continue to grow, aligning with trends in overall adoption.

Security Features

Authentication and Protection Protocols

Multibanco relies on a (PIN) system as a primary method, where users enter a 4- to 6-digit code for most transactions, including cash withdrawals, payments at point-of-sale terminals, and account access at . This PIN serves to verify the cardholder's identity and is mandatory for actions beyond low-value contactless taps, ensuring that only authorized individuals can complete operations. To further safeguard against unauthorized access or excessive usage, the system imposes daily transaction limits, such as €400 for ATM withdrawals and varying limits for transfers set by participating banks, which help prevent potential abuse while maintaining usability for everyday needs. These limits are set by participating banks and the network operator to balance security with convenience. Multibanco cards incorporate chip technology, which embeds a secure to encrypt dynamically, generating unique codes for each use that protect against cloning and skimming attacks compared to older magnetic stripe methods. This chip facilitates offline and online verification by authenticating the card itself and the details through cryptographic protocols, significantly reducing in physical and remote environments. For contactless payments, enabled via , transactions up to €50 can proceed without PIN entry, promoting speed for small purchases, but exceeding this threshold or a series of five consecutive taps requires PIN confirmation to escalate security. In online and mobile contexts, Multibanco adheres to (SCA) requirements under the EU's PSD2 directive, mandating at least two independent factors for verification, such as knowledge (PIN or password), possession (a registered device), and ( like fingerprints or facial recognition in supported apps). This often involves push notifications to banking apps for approval or biometric prompts, enhancing protection for and app-based transfers without compromising . Physical safeguards complement these digital measures. Users can also initiate card hotlisting through their bank or services for immediate blocking of lost or stolen cards, halting all associated transactions in to minimize exposure. Advanced detection tools, as outlined in related protocols, build upon these baselines for ongoing monitoring. Ongoing rollouts of biometric authentication, including fingerprints and facial recognition, continue in mobile channels like MB WAY as of 2025, with preparations for PSD3 regulations to further standardize secure APIs.

Fraud Detection and Response

Multibanco employs advanced monitoring tools to identify fraudulent activities in , leveraging models trained on millions of to detect anomalies such as unusual velocity and geolocation inconsistencies. These systems, including the PAYWATCH , provide dashboards for ongoing across digital channels, enabling early detection and customizable layers tailored to ' needs. In response to detected , Multibanco activates immediate mechanisms like interactive confirmations for suspicious transactions and app-based alerts to verify , minimizing unauthorized access. For verified cases, 24/7 expert analysts review alerts and facilitate collaboration with for investigations. Reference payments, a core Multibanco feature, eliminate risks for merchants since funds are pushed directly from the payer's , further reducing exposure. Fraud rates within the Multibanco network remain exceptionally low, with recording a card rate of 0.015% by value in the first half of 2023, positioning it as the second-lowest in the . This low incidence, below 0.1% of total transactions as of the first half of 2023, underscores the effectiveness of these protocols in maintaining trust across SIBS's global operations serving over 300 million users. Recent updates have integrated Multibanco with PSD2 regulations to enhance security through standardized APIs for payment initiation and account information services. Additionally, biometric authentication pilots, including facial recognition and fingerprint verification, have been rolled out in mobile channels like MB WAY to strengthen user verification without relying solely on PINs.

Payment Channels

Point-of-Sale Transactions

Point-of-sale (POS) transactions via the Multibanco network enable customers to pay for goods and services at physical merchant locations using debit cards issued by Portuguese banks, processed through electronic funds transfer at point of sale (EFTPOS) terminals. The process begins with the customer inserting their Multibanco card into the terminal or tapping it for contactless payments using near-field communication (NFC) technology, available at over 398,000 terminals across the country as of 2024. For transactions valued above €50, the customer must enter their personal identification number (PIN) to authorize the debit from their bank account, while lower-value payments can proceed without PIN entry to expedite the process. This system primarily facilitates debit-only transactions in Portugal, drawing funds directly from the cardholder's account without credit extension. Adoption of Multibanco for transactions has grown significantly, with 781 million such payments recorded in 2014 and exceeding 1 billion annually in recent years, underscoring its essential role in everyday commerce. In 2022 alone, the network handled 1.57 billion transactions totaling €60.10 billion, primarily in outlets, restaurants, and service providers where it serves as the dominant method. This widespread use reflects the network's across all major banks since 2010, supporting seamless transactions at diverse merchant points. Key features of Multibanco POS transactions include contactless capabilities, introduced in the 2010s and now supported by over 95% of terminals for domestic cards, allowing quick taps for low-value purchases. The system also integrates with programs through SIBS-managed solutions like the Multibanco Discounts program, enabling customers to accumulate benefits, such as or points, directly during purchases at network terminals. For merchants, these transactions offer advantages including lower processing fees compared to credit card schemes and settlement typically within two business days, providing reliable and cost-effective .

Online and Internet Payments

Multibanco facilitates online and internet payments primarily through two methods: MB NET virtual cards and reference payments. MB NET enables users to generate one-time-use virtual credit cards for secure transactions, protecting against by limiting the card's validity to a single purchase or a predefined amount. Alternatively, reference payments involve creating a unique code that customers use to complete the transaction via their portal or other authorized channels, without exposing sensitive financial details to the merchant. The process for reference payments begins post-checkout, where the merchant's platform generates a secure , typically including an identifier, the itself, and the exact amount due. This is valid for seven days, after which it expires to enhance security and prompt timely completion. Customers then access their bank's online interface to enter the and authorize the , ensuring no details or personal information are shared with the merchant, thereby minimizing risks. For MB NET, users create the virtual in advance through participating banks, entering it at checkout like a standard , with built-in limits on usage to prevent unauthorized extensions. Multibanco online payments have experienced substantial growth, evolving into a dominant force in . By 2025, they account for over 20% of online sales volume, reflecting their entrenched popularity among consumers who prefer familiar domestic methods over international cards. This dominance stems from high trust levels and widespread accessibility, with reference codes offered by 24% of retailers in 2024 as the top payment option. Integrations with platforms have broadened Multibanco's reach, including that enable seamless incorporation into systems like , allowing merchants to generate references or virtual cards directly during checkout. These support compatibility for EU-based merchants through SEPA-compliant gateways, facilitating cross-border acceptance while maintaining local settlement efficiency.

Mobile and App-Based Payments

MB WAY serves as the primary mobile application for Multibanco, enabling smartphone-based payments and transfers within Portugal's national payment network. Launched in 2015 by , the operator of Multibanco, the app allows users to link their bank cards to their numbers for seamless transactions. Key features include (P2P) transfers initiated via phone numbers, in-store payments using s or technology, and the generation of virtual cards for secure online purchases. Additionally, it supports cardless withdrawals through generation, allowing users to access cash without physical cards by entering a one-time code at compatible machines. The app's instant transfer capabilities have driven its widespread use for everyday financial interactions, building on earlier online precursors like MB NET for virtual card creation. By 2025, MB WAY boasts over 6.5 million active users as of October 2025 and processes approximately 9 million transactions monthly, accounting for up to 45% of payments in . This adoption reflects its integration into the broader digital payment ecosystem, where it handles a significant portion of mobile-initiated transactions and supports the country's shift toward cashless commerce. Supported by 28 banks covering 95% of the market, MB WAY has become a cornerstone of Portugal's landscape in 2025. Innovations in MB WAY include biometric authentication options, such as or facial recognition, for secure and approval, enhancing user convenience while maintaining robust security. The service also aligns with initiatives under the EU's PSD2 directive, enabling third-party providers to access account information and initiate payments through ' compliant APIs, fostering and expanded . These features position MB WAY as a versatile tool for both personal and commercial mobile payments in .

ATM and Automated Services

The Multibanco ATM network, operated by SIBS, comprises approximately 13,000 automated teller machines distributed across Portugal and its islands, providing 24/7 access to a wide array of financial services. These machines support core functions such as cash withdrawals, deposits, interbank transfers, and bill payments for utilities, taxes, and other invoices from thousands of suppliers, often using a simple reference code system. Withdrawals are limited to amounts between €10 and €200 per transaction, with options for predefined or custom sums, while deposits and transfers enable users to manage funds across linked bank accounts. Bill payments cover diverse obligations, including electricity, water, and government fees, making ATMs a central hub for everyday financial tasks beyond basic banking. Multibanco ATMs feature user-friendly interfaces available in five languages, including and English, to accommodate both residents and visitors. Advanced options extend functionality to non-financial services, such as printing or event tickets directly at the machine after selection and . During withdrawals, ATMs display dynamic rates and conversion prompts, allowing users to opt for billing to avoid foreign fees. In 2025, introduced AI-generated voice guidance on select machines to enhance for visually impaired users, with prompts initially in and plans for expanded multilingual support. Access to Multibanco ATMs is primarily card-based, requiring insertion of a from any of the 27 participating Portuguese banks, followed by PIN for secure transactions. App-based access is also supported through integrated mobile wallets like MB Way, enabling contactless initiation where available. For non-cardholders or reference-based payments—such as settling online purchases or bills—users enter an entity code and reference number generated by the payee, then complete the transaction using any compatible Multibanco card without needing account ownership. This process ensures broad usability, with transactions confirmed via on-screen receipts or printed tickets for record-keeping. Usage trends at Multibanco ATMs reflect a shift toward diversified services, with pure withdrawals declining as a proportion of total operations from dominance in the —when they constituted the primary function—to around 48% of all transactions by 2021. This decline, driven by rising digital alternatives and expanded capabilities, has been offset by increased multi-service utilization, including payments and transfers, maintaining overall network activity with over 60 operations available. In , withdrawals alone totaled €29.2 billion, underscoring the network's enduring role despite evolving preferences.

References

  1. [1]
    [PDF] Retail Payment Instruments in Portugal: Costs and Benefits
    Jul 31, 2007 · introduction of payment services through the Multibanco in 1989; ... The Multibanco system is operated by SIBS and came on stream in 1985.Missing: History | Show results with:History
  2. [2]
    About us - SIBS
    We are the main processor of ATM and point-of-sale networks, a pioneer in digital payments, and a benchmark in cybersecurity and anti-fraud solutions.
  3. [3]
    Home - MULTIBANCO
    Pagamentos online fiáveis, seguros e eficientes · Aceitam os métodos de pagamento mais utilizados pelos portugueses · São mais flexíveis… · Seguros e confiáveis.
  4. [4]
    Sample Report - Digital & Card Payment Yearbooks
    SIBS FPS operates the Portuguese Multibanco network. In 2022, the number of active MB ATMs operated by SIBS increased by 4.35% to 12,000. In addition, few ...
  5. [5]
    ATM network management - SIBS
    We ensure centralised management of MULTIBANCO's ATM Network, guaranteeing its permanent monitoring and technical assistance, maximising availability levels.Missing: website | Show results with:website
  6. [6]
    Multibanco payment method for online transactions - Adyen
    Multibanco is a trusted post-pay payment method popular in Portugal, allowing payments via ATM or online banking.
  7. [7]
    Multibanco payments | Stripe Documentation
    Multibanco is a voucher-based payment method in Portugal. If your business is based in Europe or the United States, you can accept Multibanco payments from ...Missing: system | Show results with:system
  8. [8]
    SIBS - Partner in Payments
    Accept and manage online, physical, or mobile store payments using secure, fast solutions that adapt to your needs. Know morearrow_forward.SIBS · ATM network management · About us · Contact useast
  9. [9]
    In the 3rd quarter of 2025, the aggregate value of withdrawals and ...
    Oct 23, 2025 · In the 3rd quarter of 2025, the aggregate value of withdrawals and purchases using points of sale of the SIBS network increased by 8.0% year-on- ...
  10. [10]
    Multibanco - Payment Method - Documentation - Paymentwall.com
    Multibanco is an interbank network in Portugal that links the ATMs of 27 banks in Portugal. Learn all the details about this payment method at Paymentwall.
  11. [11]
    The Multibanco System in Portugal - Angloinfo
    SIBS (Sociedade Interbancária de Serviços SA), the company behind Multibanco, launched the network in September 1985 with the installation of 12 machines in ...
  12. [12]
    Everything you need to know about Multibanco payments in Portugal
    Aug 18, 2025 · 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 ...
  13. [13]
    Vodafone Portugal fibre network allows sophisticated banking
    The MULTIBANCO ATMs are capable of a wide range of different transactions, from topping up mobile pay as you go services to paying taxes or tolls, buying ...
  14. [14]
    Multibanco: Portugal's top payment method | Integrate with PPRO
    Portugal's top-recognized local payment method. Integrate this versatile system for e-commerce, licenses, and taxes. Pay via bank transfer or at 12000+ ATMs ...Why Multibanco · Specifications · CurrenciesMissing: system | Show results with:system<|control11|><|separator|>
  15. [15]
    The 10 Best Banks in Portugal for Foreigners in 2025
    Multibanco (MB) is Portugal's nationwide interbank payment system, launched in 1985 to link all major banks through a shared ATM and digital infrastructure.Bank Fees In Portugal · Offshore Banking In Portugal · 1. Caixa Geral De Depósitos
  16. [16]
    "Press 5": Multibanco ATM system uses AI - Portugal Resident
    Sep 3, 2025 · Today, there are 13,000 machines spread all over Portugal and its islands enabling 90 different operations.
  17. [17]
    https://www.statista.com/statistics/444556/number-of-pos-terminals-portugal/
  18. [18]
    The History of MB WAY: Portugal's Money Transfer System
    Aug 15, 2025 · MB WAY was launched in 2015 by SIBS, the same company that operates the Multibanco ATM and payment network in Portugal. It links your mobile ...
  19. [19]
    Portugal Multibanco ATMs Add AI Voice on 40th Anniversary
    Sep 7, 2025 · Multibanco's 40th birthday brings AI voice guidance to 13000 ATMs, easing cash withdrawals and bill payments for residents and visitors ...Missing: 24/7 | Show results with:24/7
  20. [20]
    MULTIBANCO Turns 40 Multibanco was “born” on ... - Facebook
    Sep 3, 2025 · The system began operating in 1985 with a nationwide network of ATMs and was later expanded with the POS terminals at shops. Currently, SIBS ...
  21. [21]
    Built on constructive co-operation - Electronic Payments International
    May 1, 2008 · Portugals adoption of electronic payments began in the mid-1970s and has been characterised throughout by close co-operation within the ...Missing: History | Show results with:History
  22. [22]
    "Withdraw your money." Multibanco turns 40 years old and SIBS ...
    Sep 2, 2025 · The Multibanco Network is celebrating its 40th anniversary this Tuesday, September 2, as announced by SIBS in a statement sent to newsrooms.
  23. [23]
    1985: The Year Portugal Got Its First ATM - Times of Madeira
    Sep 4, 2025 · Portugal introduced its first automated teller machine (ATM) in 1985. The initial machines, created by SIBS, allowed users only to withdraw ...Missing: establishment | Show results with:establishment
  24. [24]
    Payment habits in Portugal - Processing.news
    It started operating in 1985 and became a history of success, benefiting ... One of the most popular methods in Portugal is Multibanco, which belongs to SIBS ...
  25. [25]
    [PDF] annual report - 2016 - Santander
    number of ATMs in the Multibanco network which ensued in a 15% market share ... 3,745. -. -. -. -. 2. -. -. -. -. -. -. -. -. 1. -. 5,572. 3,745. -. 1,827.
  26. [26]
    [PDF] Survey of developments in electronic money and internet and ...
    Mar 11, 2004 · Telemultibanco. This scheme was developed jointly by SIBS and mobile phone operators, and was launched in September 1996. To access this ...
  27. [27]
    [XLS] Indice - Statistics Portugal
    11200 ... Nota: O número de terminais de caixa automático Multibanco corresponde ao total de caixas com operações registadas durante o ano de referência.
  28. [28]
    Invoice2go & MULTIBANCO integrates with Invoice2go
    ... ATMs of 27 banks in Portugal, totaling 12,700 machines as of December 2014. The bank members of Multibanco control the SIBS. Multibanco is a fully ...
  29. [29]
    Portuguese ATM turns 40 with “new voice” - The Portugal News
    Sep 2, 2025 · The Multibanco network is celebrating its 40th anniversary today, September 2, and to mark the milestone, SIBS decided to give it a "new voice ...Missing: 24/7 | Show results with:24/7
  30. [30]
    Card processing - SIBS
    Stand-in authorization: SIBS can approve transactions on behalf of the Issuer; Accurate balance calculation for settlement among all MULTIBANCO participants ...Missing: batch | Show results with:batch
  31. [31]
    Banking in Portugal: the best Portuguese banks for expats in 2025
    Multibanco machines take all of the major bank cards such as Visa and Mastercard. Most machines have a limit of €200 per transaction or €400 per day. Foreign ...Missing: participating | Show results with:participating
  32. [32]
    Portugal's Payment Rails & How They Work – SEPA, Multibanco ...
    Aug 26, 2025 · There are over 12,000 Multibanco ATMs across the country, and most debit and card payments in Portugal run through this system. It's not just an ...
  33. [33]
    Guides - Multibanco - ifthenpay
    We offer a step-by-step guide on the reference generation algorithm. In the Multibanco system, customers use three sets of digits to make a payment.Missing: 7- 2-
  34. [34]
    MULTIBANCO Reference – Documentation - SIBS Docs
    The SIBS Gateway supports purchases, which are made using the MULTIBANCO Payment Reference method, in which the purchase triggers payment immediately. Purchase.
  35. [35]
    [PDF] Report on Payment and Interbank Settlement Systems (2006)
    MULTIBANCO. The Multibanco system is a shared network of ATMs and POS terminals that started in September. 1985 with 12 ATMs in Lisbon and Oporto. It is the ...<|control11|><|separator|>
  36. [36]
    Payment Gateway Portugal – Documentation - SIBS Docs
    MB WAY is SIBS' mobile solution that offers an innovative approach to online and physical payments, instant transfers, generation of MB NET virtual cards and ...
  37. [37]
    Multibanco - Academic Dictionaries and Encyclopedias
    In 1995, the network had 3,745 ATMs and in 2006 has more than 11,200, on which an average of more than 60 million operations are made every month.
  38. [38]
    Press Release on the 2015 Report on Payment Systems
    Jun 30, 2016 · 1,885.6 million Multibanco transactions, to an amount of EUR 99.4 billion, 6.4 per cent and 5.1 per cent respectively more than in 2014. The ...
  39. [39]
    How to accept payments in Portugal | Stripe
    Aug 29, 2025 · Here's a guide to accepting payments in Portugal, including dealing with EU regulations and key strategies for success.Payments In Portugal: An... · Payment Methods · Ease And Friction Of Entry
  40. [40]
    Multibanco goes AI - Essential Business
    Sep 3, 2025 · The Multibanco ATMs were launched on September 2, 1985 with just nine machines in Lisbon and Porto. A that time you could make withdrawals, ...
  41. [41]
    Portuguese increase summer holiday spending by 9% both ...
    Sep 19, 2025 · Based on data from SIBS Analytics, consumption in Portugal between July and August 2025 grew by 9% in the number of transactions and 4% in ...Missing: statistics | Show results with:statistics
  42. [42]
    E‑Commerce Payment Landscape in Portugal 2025
    Aug 13, 2025 · Bank transfers (including Multibanco systems) account for approximately 25%. Cash payments account for approximately 7%, with other methods ...
  43. [43]
    Portugal FinTech Market | 2019 – 2030 - Ken Research
    ... e-commerce activities, and a growing preference for contactless transactions among consumers. ... Leading participants such as SIBS S.A., MB WAY, Multibanco ...
  44. [44]
    [PDF] Contas Consolidadas - SIBS
    Jul 19, 2025 · Reforçar o papel central da SIBS, através do desenvolvimento da próxima geração de soluções de pagamentos e digitais, assegurando a excelência ...
  45. [45]
    ATMs in Portugal: locations, fees, and tips (2025) - Wise
    Jul 8, 2024 · The great news is that in general, Multibanco ATMs in Portugal don't have fees.1. There are exceptions though, such as privately operated ATMs ...Portugal Atm Pins · Portugal Atm Max Cash... · Atms In Portugal Faqs<|control11|><|separator|>
  46. [46]
    Tips When Using International Bank Cards - Travel Portugal Blog
    Sep 10, 2024 · Withdraw Euros from MultiBanco ATM. MultiBanco ATMs will give you the best conversion without unnecessary fees compared to other ATM machines.
  47. [47]
    Exactly.com partners with MB WAY & Multibanco to enhance e ...
    Jul 20, 2025 · MB WAY, supported by 28 banks, covers 95% of the Portuguese banking market. As of 2025, MB WAY handles an estimated 45% of the country's online ...
  48. [48]
    Press release of the Banco de Portugal on the Report on Payment ...
    May 8, 2025 · In 2024, retail payments in Portugal increased again in volume (+11%) and in value (+5%). Payment transactions added up to 4.7 billion, to an amount of €776.7 ...
  49. [49]
    [PDF] Assessing financial inclusion in Portugal from the central bank's ...
    May 2, 2018 · Also, SIBS made the Multibanco network open to all those taking part in payment systems operations, which allowed for network economies and the ...
  50. [50]
    Portuguese digital financial inclusion varies significantly across age ...
    Sep 23, 2021 · 70% of respondents are at the highest level of financial inclusion, given that they regularly use their current account and have other financial products.Missing: divide | Show results with:divide
  51. [51]
    What keeps Portugal's elderly offline? - ELM Magazine
    Apr 1, 2020 · There is a deep digital divide between older and younger citizens in Portugal, where many senior citizens are vulnerable to digital exclusion.Missing: Multibanco | Show results with:Multibanco
  52. [52]
    Fraud prevention - SIBS
    Designed to adapt to each Financial Institution's needs, it helps detect fraud early, act faster, and improve decisions with the flexibility to integrate custom ...
  53. [53]
    [PDF] 2024 REPORT ON PAYMENT FRAUD - European Banking Authority
    Furthermore, fraud rates for card payments turned out to be significantly (about ten times) higher when the counterpart is located outside the EEA, where the.Missing: Portugal Multibanco
  54. [54]
    [PDF] User Guide - SIBS API Market
    Sep 14, 2023 · The QWAC shall be used to establish the secure channel for communication between the TPP and SIBS API Market using the Transport Layer Security ...
  55. [55]
    Authentication App - SIBS
    Uses facial biometrics, encryption, and multi-factor authentication to ensure user identity verification. group. Multi-profile. Manage certificates for personal ...
  56. [56]
    Authorised Payments – Documentation - SIBS Docs
    After checking the conditions presented, they confirm the authorisation using strong authentication (e.g. MB WAY PIN or biometrics). This step ensures that ...
  57. [57]
    Contactless cards | Portal do Cliente Bancario
    Occasionally, and as an additional security measure, you may be asked to enter the card PIN in random contactless transactions, even if the maximum limits ...Missing: EMV SCA
  58. [58]
    Terminal Multibanco: características, custos, vantagens e como pedir
    As well as allowing a business to accept contactless payments by card, chip, MB WAY, Google Pay and Apple Pay, this terminal also comes with a set of built-in ...Missing: introduction | Show results with:introduction
  59. [59]
    https://www.sibs.com/authentication-app/
  60. [60]
    Loyalty solutions - SIBS
    In the Multibanco Discounts program, we have two promoters from very different sectors in Portugal: sports and insurance. In the Loyalty Programme, ...
  61. [61]
    Multibanco APM | Portugal's Real-Time Bank & Voucher Payments ...
    Learn how AR automation helps CFOs cut DSO, speed up collections, reduce costs, and improve cash flow through intelligent ERP-integrated workflows. 2025 ACH ...
  62. [62]
    Multibanco - Mangopay docs
    It works by generating a reference code at checkout, which allows users to pay via online banking or at a physical ATM within 7 days. Region, Portugal.Missing: validity details shared
  63. [63]
    Multibanco - Mastercard
    Multibanco is a supported browser payment method in the Mastercard Gateway. This page describes integration details specific to Multibanco.Missing: 2000 | Show results with:2000
  64. [64]
    Accept payment with Multibanco here. Reach more customers!
    Multibanco is the most used payment method in Portugal, where customers pay via online banking or cash machine, without sharing card details. It is secure and ...
  65. [65]
    5 Top Payment Methods in Portugal 2023: Info for Merchants
    They can also make online purchases through the MB NET service, which generates virtual cards. To make a payment in the MB Way app, the user only needs to ...
  66. [66]
    How can I make payments with MB NET Cards? - ActivoBank
    With MB NET you can make national and international payments. To do so, make sure that the merchant accepts payment with the brand of Card (Mastercard/Visa) ...Missing: SIBS API e- commerce<|separator|>
  67. [67]
    Exactly.com MB WAY Partnership Enhances Portugal Payments
    Jul 16, 2025 · Exactly.com MB WAY partnership improves Portugal's e-commerce payments with Multibanco, streamlining checkout for online retailers.
  68. [68]
    Shopify + Multibanco: Portugal Merchant Payment Guide - CartDNA
    Multibanco facilitates payments directly between customers and their banks in real-time through payment references (vouchers), ensuring high security and trust.
  69. [69]
    Multibanco - Shopify Help Center
    With Multibanco, your customers can order online and then complete their order in person at an ATM with Multibanco capabilities, or with their banking app.<|control11|><|separator|>
  70. [70]
    Payment methods for your Shopify store - Eupago
    Increase your Shopify sales by accepting Multibanco and MB WAY payments. With Eupago's integration, Shopify checkout becomes even simpler, faster, and more ...Missing: SEPA | Show results with:SEPA
  71. [71]
    Portugal's MB Way launch a universal mobile payment app for ...
    Sep 17, 2015 · MB WAY is available for Portuguese mobile phone numbers and for Portuguese MULTIBANCO banking cards. If the target you are sending money to ...
  72. [72]
    MB WAY - Apps on Google Play
    Rating 3.6 (47,670) · Free · AndroidThe MB WAY app is SIBS' digital solution that simplifies your payments by allowing you to do everything in one place! By connecting your mobile phone number ...Missing: 2014 | Show results with:2014
  73. [73]
    Everything you need to know about MB WAY payments
    Jul 29, 2025 · MB WAY is Portugal's leading digital wallet, trusted by approximately 6 million users in 2024 according to Statista. It connects directly with ...
  74. [74]
    MB WAY to enable cardless cash withdrawals
    Nov 4, 2016 · On the MB WAY app, just click on the card you intend to use, choose the withdrawals option, then introduce the amount and generate the code.Missing: 2020s | Show results with:2020s
  75. [75]
    Walletto innovates with MB WAY integration: a boost for your ...
    Mar 4, 2025 · Walletto continues to revolutionize the payments landscape with the integration of MB WAY – powered by SIBS – the leading mobile payment method in Portugal.Missing: NET API
  76. [76]
    Open Banking in Portugal: Adoption, Connectivity & Market Outlook
    The integration of open banking and its acceptance among consumers in Portugal encounter specific challenges. Established local payment methods, such as MB Way ...
  77. [77]
    Portugal “cash deserts”
    Sep 3, 2025 · According to data from the Bank of Portugal (2022), 1,276 parishes (41%) have no access points to physical cash. "The reduction in cash access ...
  78. [78]
    ATMs In Portugal: Credit Cards And Fees - Wise
    Jul 17, 2018 · ATMs in Portugal generally allow for a daily withdrawal of up to €400. You may find that you can only take out €200 per withdrawal.Portuguese Atm Pins · Portuguese Atm Max Cash... · Portugal Banks' Fees
  79. [79]
    [PDF] ACCESS TO CASH REPORT - Finance Isle of Man
    The Multibanco network in Portugal, is the largest financial services ... M&S Bank was founded in 1985 as M&S Money and in 2012 it relaunched as M&S.<|control11|><|separator|>