Payment methods in Portugal
In 2022, the Portuguese e-commerce market was worth US$5 billion, rising to US$8 billion by 2027.
Market takeaways
- In 2022, the Portuguese e-commerce market was worth US$5 billion, rising to US$8 billion by 2027.
- The Portuguese make over 40% of online purchases using a mobile device, up from just 35% in 2020.
- The average Portuguese online shopper spends US$602 with e-commerce merchants, rising to US$854 by 2027.
- Fourteen percent of all the things Portuguese buy online, they purchase from stores based outside the country.
- The Portuguese use cards to pay for just 26% of online purchases. The rest are bought using a range of digital payment methods.
Population
10.3M
Online population
8.8M
B2C e-commerce
$5.6B
Banked population
93%
Credit card population
54%
E-commerce of total retail
8%
Payment method breakdown
- Card26%
- Cash7%
- Bank Transfer25%
- E-Wallet34%
- Other9%
Card scheme breakdown
- Visa60%
- Mastercard40%
- American Express0%
- Local schemes0%
- Other0%
Cross-border e-commerce
Cross-border shoppers
69%
Share of e-commerce
14%
Cross-border value (est.)
$0.6B
Featured payment methods in Portugal
Popular options based on coverage and prominence in this market.
Multibanco
Portugal's national interbank payment network. Generates payment reference numbers for online and offline transactions paid via ATM, home banking, or MB WAY. Has underpinned Portuguese commerce for decades and remains a primary e-commerce payment method.
Scalapay
European BNPL with 3-installment checkout. Growing in Portuguese fashion and lifestyle e-commerce.
FLOA Pay
BNPL provider offering split payments at checkout, active in Portugal and 6 other European markets.
MB WAY
Portugal's dominant mobile payment solution operated by SIBS. Enables instant peer-to-peer transfers by mobile number, QR/NFC in-store payments, and online checkout. Used by over 7 million Portuguese. The definitive local payment method in Portugal.
All payment methods in Portugal
Discover 4 payment methods from around the world
Featured banks in Portugal
Major institutions operating in this market.
Itaú Unibanco
São Paulo, Brazil
Itaú Unibanco is Latin America's largest bank by assets, formed from the 2008 merger of Itaú and Unibanco. It offers retail, SME, corporate, and investment banking.
CaixaBank
Valencia, Spain
CaixaBank is Spain's third-largest bank and a leader in digital banking, formed by the merger with Bankia in 2021.
Caixa Geral de Depósitos (CGD)
Lisbon, Portugal
Caixa Geral de Depósitos (CGD) is Portugal's largest bank and a state-owned institution, offering retail, commercial, and investment banking across Portugal and internationally.
Bankinter
Madrid, Spain
Bankinter is a Spanish bank known for its innovative approach, focusing on private banking, SMEs, and mortgages.
Millennium BCP
Lisbon, Portugal
Millennium BCP (Banco Comercial Português) is Portugal's largest privately held bank, with operations in Poland, Mozambique, and Angola.
Santander Portugal
Lisbon, Portugal
Santander Portugal is Banco Santander's Portuguese subsidiary, offering retail and commercial banking in Portugal.
All banks in Portugal
Showing 11 of 11 banks
