Exactly.com adds local payment options for UK eCommerce in Portugal
Exactly.com has integrated MB WAY and Multibanco payment methods into its platform for UK businesses seeking to expand eCommerce operations in Portugal.
The addition of these two payment options comes as UK merchants increasingly seek to establish a stronger local presence in Portugal and look for more flexible, localised payment solutions for Portuguese consumers.
Payment landscape
Multibanco enables users to make payments via ATMs or online banking and is widely adopted in Portugal, holding over 23 million cards in circulation - more than double the country's population of approximately 10 million. More than 20% of online sales in Portugal are made using Multibanco, reflecting its significant role in the country's eCommerce ecosystem.
MB WAY, on the other hand, is a mobile payment solution supported by 28 banks, which together cover 95% of the Portuguese banking market. Recent data indicate that MB WAY handles 45% of all online transactions in the country, serving more than 3.5 million users and facilitating nearly 9 million monthly purchases. The method has found particular favour among young adults, with SIBS Analytics reporting that 57% of this demographic use MB WAY for online shopping.
Supporting UK merchants
Exactly.com's integration of MB WAY and Multibanco is expected to help UK-based online businesses cater to local payment preferences in Portugal. This could facilitate higher customer conversion rates and provide consumers with the flexibility to pay via familiar options.
COO at Exactly.com Mark Andreev said: "What we see is that UK businesses looking to expand often find the payment landscape unclear, particularly when it comes to how consumers pay in different markets. At Exactly.com, our mission extends beyond providing payment solutions and methods for eCommerce businesses. We work closely with our clients to support their growth, both in the UK and across the EU, ensuring they can scale effectively by educating them on local market needs and identifying potential areas where conversions might be lost."
Mark Andreev added that offering continuous support and sharing the company's expertise enables businesses to address operational challenges proactively, especially when entering new markets such as Portugal.
The new integrations also give Exactly.com's client base the ability to offer Portuguese consumers the possibility to pay in their preferred way, which may help optimise the performance of UK eCommerce brands targeting the region.
Localisation and cross-border growth
Market research cited by Exactly.com suggests that MB WAY is especially prevalent among younger consumers, providing a familiar and mobile-first option for eCommerce transactions. Multibanco's established infrastructure makes it a default choice not just for consumers but also for online merchants seeking to tap into the local demand without additional friction for users who prefer traditional payment channels.
The integration of these payment methods into the Exactly.com portfolio is positioned as a direct response to the varied and specific preferences of Portuguese buyers. The move aligns with wider industry trends in which payment providers adapt offerings to suit differing country requirements, supporting cross-border commerce in Europe.
By adapting to Portuguese preferences through the inclusion of local methods, such as MB WAY and Multibanco, payment providers and merchants can reduce checkout abandonment rates associated with unfamiliar payment forms and better capture local demand.
The company expects that ongoing guidance and tailored support will remain a key element for success as more UK eCommerce businesses enter or expand in Portugal. The development illustrates the importance placed on local market knowledge for UK firms eyeing EU growth.
