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Multibanco

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Multibanco is a very popular electronic payment method in Portugal. This method allows consumers to pay using their bank card, as well as their mobile phone or computer. To […]

Market coverage 1
  • Portugal
Currencies 1
  • Euro
Description

Multibanco is a very popular electronic payment method in Portugal. This method allows consumers to pay using their bank card, as well as their mobile phone or computer.

To use Multibanco, consumers need to select this option during the online or in-store purchase. They are then directed to a page where they can enter their bank card information or their phone number associated with their Multibanco account.

Once the transaction is completed, the consumer receives a receipt and the amount is debited from their bank account. Multibanco also allows consumers to pay bills and withdraw cash from ATMs.

The Multibanco system was launched in Portugal in 1985 and is managed by the company SIBS. It is used by most Portuguese banks and has become a very popular payment method in the country.

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Frequently Asked Questions

What are the best practices for managing cross-border payments?2023-04-18T18:56:57+02:00

NORBr is a payment orchestrator that connects you to all cross-border payment services providers that can help you manage your cross-border payments efficiently and securely, while also ensuring compliance with relevant regulations. NORBr offers advanced features like fraud detection, currency conversion, and real-time tracking and reporting, which can help you optimize your payment processing for cost efficiency and speed.

What are the risks associated with cross-border payments?2023-04-18T18:57:21+02:00

Cross-border payments can be associated with several risks for you, including currency fluctuation risk, regulatory risk, and fraud risk. Currency fluctuation risk refers to the potential impact of exchange rate fluctuations on the value of your payments. Regulatory risk relates to the complexity of complying with different regulations in different countries. Fraud risk refers to the potential for fraudulent activity, which can be more difficult to detect and prevent in cross-border transactions.

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