According to the company press release, Multibanco is a popular payment method in Portugal. It works as an interbank network that enables customers to make payments through online banking, ATMs, and mobile banking applications. Portuguese people use this system to pay their electricity, water, and gas bills. They can also make online purchases of goods and services, pay taxes, buy tickets for cultural events, and top up their mobile phone balance. The Multibanco card is owned by 86% of the Portuguese population and is supported by all local banks.
For TrustPay, one of the primary advantages of integrating the Multibanco payment method is reaching a larger audience by offering a preferred payment method. As the system allows users to perform payments directly from their Portuguese bank accounts without the need for credit cards, Multibanco is often associated with convenience and security.
The official press release offers some details about MB Way as well. This system has 2 million active users and represents a popular mobile payment service in Portugal, as customers can link their debit or credit cards to their phone numbers and perform instant payments.
When paying in online stores, customers can select the MB WAY payment method and enter their mobile phone number. Afterwards, they can confirm the payment with a PIN code by accessing a notification in the MB WAY app. Once the PIN is entered successfully, the payment result is displayed on the ecommerce website or in the application.
TrustPay provides innovative payment services for online businesses with cross-border reach, offering a variety of payment solutions under one roof. The company creates a customised strategy for every client based on the specifics of the business to ensure secure ecommerce payments and a seamless experience.
In July 2023, Payment orchestration platform IXOPAY announced a collaboration with TrustPay to offer improved payment solutions to merchants and clients around the world. Following this collaboration, TrustPay offered its secure range of payment services to traders, aiming to meet the needs and demands of businesses on a global scale. Moreover, the company agreed to provide merchants with the needed tools for streamlining their payment processes and for expanding into new markets.
For more information about TrustPay, please check out their detailed profile in our dedicated, industry-specific Company Database.
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