MB WAY is Portugal's leading mobile payment app, built by SIBS on top of the Multibanco infrastructure. Entering a phone number at checkout and approving the payment with an app push notification has become the standard among younger consumers. This guide covers the payment flow, settlement structure, and pre-integration checks from the perspective of Korean merchants.
The centerpiece of mobile payments in Portugal is SIBS's MB WAY. With more than 5 million users, the app links a bank account or card to a phone number and completes payment with just an in-app approval, making it an instant-approval channel unlike the traditional reference-number method where payment is made later. Because it is a daily-use app that also covers P2P transfers and ATM withdrawals, it is effectively an essential channel for reaching consumers in their 20s to 40s who complete purchases on their smartphones.
Since payment is confirmed instantly, MB WAY suits digital goods such as games, subscriptions, and tickets, as well as industries with a high share of mobile purchases like delivery and fashion. More conservative customers who prefer paying via a reference number are served by Multibanco, so it is more effective to design the two methods not as competitors but as complementary channels split by age group and purchasing habits.
When a consumer enters their mobile phone number at checkout, an approval request push notification is sent to the MB WAY app, and the payment is confirmed the moment the consumer approves it with a PIN or biometric authentication in the app. This in-app authentication step naturally satisfies the Strong Customer Authentication (SCA) required under PSD2, which minimizes drop-off from additional authentication steps. The approved amount is collected in euros (EUR) before moving into the settlement process.
Through integration with Hecto Financial, Korean merchants can consider accepting MB WAY without opening a bank account in Portugal or partnering directly with SIBS. However, actual availability and terms (settlement cycle, fees, currency options) vary by industry and transaction volume, so confirmation with the Hecto Financial sales team is required before signing a contract.
※ This section describes the general integration process and does not guarantee that any specific merchant can actually integrate this method. Please consult with us to confirm the exact scope of support and applicable fees.
Confirm whether a contract is available for merchants registered in Korea
The integration approach and priority differ depending on your online sales channel mix, such as your own store, open marketplaces, or a mobile app
Confirm in advance whether your category falls under the merchant policy restrictions of the MB WAY operator
Confirm compliance with EU payment regulations such as PSD2 and SEPA (see the official sources below)
Settlement can be understood in two stages. First, Hecto Financial collects the euro (EUR) amount approved by the Portuguese consumer locally, and then, after currency conversion, pays the Korean merchant in one of USD, KRW, or JPY as specified in the contract. The settlement cycle follows the contract terms. Refunds are returned to the consumer's account based on the original transaction, and since this is an instant-approval method, it is recommended to also verify the partial refund and duplicate-approval cancellation procedures during integration.
Hecto Financial's team can work with you to review the right combination of payment methods for the Portuguese market.
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