With a 45% market share of e-commerce transactions (SIBS), MB WAY is the leading mobile wallet in Portugal. It allows users to make purchases, transfer money, and manage their finances using a smartphone app. To pay online, customers select the MB WAY logo and enter their mobile phone number. They then validate the purchase on their device by entering their MB WAY PIN or TouchID.
Developed by SIBS Multibanco, its consumer base consists of over 3.5 million individuals who make 9 million purchases each month. MB WAY wallet is supported by 28 banks, providing 95% market coverage — all their customers can use it, and consumers can store up to eight bank cards in their MB WAY wallets.
According to SIBS:
- 94% of MB WAY users always pay with MB Way.
- MB WAY is especially appealing to the younger market, 57% of young adults use it for e-commerce purchases.
- MB WAY offers the same level of payment security as credit cards and 47% of the Portuguese population use merchants that accept the payment method.