MULTIBANCO
Multibanco is the unified ATM network and debit card system of the banks in Portugal and the most popular payment method in the West Iberian country. If you want to sell in Portugal, you can’t avoid Multibanco. Multibanco, which was founded in 1985, has 64 banks, four savings banks and 110 cooperative banks, to a large extent all of Portugal’s credit institutions are affiliated.
In order to process a payment via Multibanco, the customer receives a payment reference and a unit number in addition to the outstanding amount if the order is successfully completed, without being forwarded to an external page. This is also possible for very small amounts, there is no minimum amount. Transactions up to a maximum of EUR 9,999 can be carried out.
By specifying the payment reference, unit number and amount, the customer can then make the payment either at one of the Multibanco ATMs that are widely used in Portugal or via their online banking. The moment the customer approves the payment at the machine or in online banking, Novalnet informs the retailer’s system in real-time so that the goods can be shipped immediately and without delay. Refunds are also easily possible with the Multibanco payment method.