E-commerce platform Exactly.com teams up with MB WAY and Multibanco to boost digital payment options in Portugal.
In a significant move to enhance digital commerce in Portugal, Exactly.com has partnered with MB WAY, one of Europe's most comprehensive and successful digital wallets. This collaboration aims to streamline and simplify checkout processes for online retailers in Portugal, thereby providing consumers with a faster, secure, and more convenient payment experience [1][2].
With MB WAY's strong presence in Portugal's mobile payments ecosystem, particularly the widely used Multibanco network, the partnership is designed to support local payment habits and preferences seamlessly. By reducing friction during online transactions, the collaboration potentially boosts conversion rates for Portuguese e-commerce merchants [1].
MB WAY, supported by 28 banks, covers 95% of the Portuguese banking market. With over 3.5 million users and nearly 9 million monthly purchases processed, the digital wallet handles 45% of the country's online transactions today [3]. It is particularly popular among younger consumers in Portugal, with 57% of young adults using it for eCommerce purchases [4].
The partnership leverages Multibanco's extensive network of 23 million cards, more than double Portugal's population of 10 million [5]. This integration enables consumers to make seamless payments via ATMs or online banking, further enhancing the convenience of digital transactions in Portugal.
Exactly.com, recognising the complexity of the payment landscape in different markets, works closely with clients to identify potential areas where conversions might be lost when expanding into new markets. By adding MB WAY and Multibanco to its portfolio, Exactly.com delivers flexible, localized payment solutions for UK businesses, enabling them to efficiently connect with Portuguese consumers and pay in their preferred way [6].
Mark Andreev, COO at Exactly.com, emphasises the importance of understanding local market needs and addressing challenges before they become obstacles. He states that the company's mission is to support growth and educate businesses on these needs [7]. SIBS Analytics reports that MB WAY plays a significant role in driving digital payments in Portugal [8].
This partnership is shaping the future of e-commerce payments in Portugal, fostering growth in the country's e-commerce market. Exactly.com offers continuous support and shares its expertise to help businesses scale effectively across the EU [9]. The Exactly.com MB WAY partnership is now live and aims to simplify digital transactions in Portugal, making online commerce more efficient, secure, and aligned with local consumer behaviours.
With Exactly.com's integration of MB WAY and Multibanco, they aim to expand their digital wallet offerings on ffnews.com, focusing on providing flexible, localized payment solutions for businesses in finance and technology. The partnership aims to boost Portuguese e-commerce merchants' conversions, considering the dominance of MB WAY in Portugal's digital wallet market, particularly in the finance sector.
