Introduction
Ecommpay, a global payments platform, has expanded its portfolio of alternative payment methods (APMs) by integrating MB Way, Portugal’s leading e-wallet. This addition enhances payment flexibility for merchants and simplifies cross-border expansion into the Portuguese market. MB Way, used by nearly half of Portuguese bank account holders, commands a 45% market share in the country’s e-commerce transactions.
With 73% of consumers willing to abandon online purchases if their preferred payment method is unavailable, Ecommpay aims to optimize merchant checkouts with local APMs. By offering MB Way, merchants across the globe can seamlessly cater to Portuguese customers without needing a separate local payment service provider.
MB Way allows users to make EUR payments, send and request money, and manage funds via mobile apps without entering card details for each transaction. Supported by 28 banks with 95% market coverage, MB Way is particularly popular among younger consumers, making it an essential payment method for businesses expanding into Portugal.
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Industry Comments
Rosanna Helm-Visscher added: “Our goal is to simplify the fragmented alternative payment method landscape for merchants by adding as many APMs as possible – we now have more than 100 already on our platform.
“With MB Way on board, merchants can now expand into Portugal without the need to seek and onboard with a dedicated Portuguese Payment Service Provider, which can add complexity and increase resource demand. With a growing range of regional payment options available in our dynamic checkout, the payment journey is simpler for every customer, reducing friction and the chance of cart abandonment.”
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Why Is This News Relevant?
Ecommpay’s integration of MB Way is a strategic move that benefits both merchants and consumers in the Portuguese market. With e-commerce rapidly growing in Portugal, providing local payment options is essential to reducing cart abandonment and enhancing customer experience.
By enabling MB Way transactions, Ecommpay gives global merchants easy access to a widely used, trusted payment method—removing barriers to entry into the Portuguese market. Additionally, as the younger demographic increasingly adopts digital wallets, businesses offering MB Way gain a competitive edge. With Ecommpay’s dynamic checkout and over 100 APMs, merchants can reduce transaction friction, optimize conversions, and expand their global reach seamlessly.
FAQs
How does MB Way benefit merchants using Ecommpay?
Merchants using Ecommpay can now offer MB Way as a payment option without partnering with a local Portuguese payment service provider. This reduces operational complexity and costs while enhancing checkout experiences for Portuguese customers. With MB Way’s high adoption rate and seamless mobile integration, businesses can improve conversion rates and minimize cart abandonment in Portugal’s e-commerce market.
What makes MB Way a preferred payment method in Portugal?
MB Way is Portugal’s most popular e-wallet, supported by 28 banks and covering 95% of the market. It allows users to make payments, transfer funds, and manage money via a mobile app without re-entering card details. Security and ease of use are key factors driving its adoption, with customers verifying transactions using PIN or TouchID. The method is especially popular among young consumers, with 57% of young adults using it for e-commerce purchases. Additionally, 47% of Portuguese shoppers prefer merchants that accept MB Way, making it a crucial payment option for businesses looking to grow in Portugal.
Why is Ecommpay focusing on local APMs like MB Way?
Consumer payment preferences vary across regions, and failing to offer localized payment methods leads to cart abandonment. With 73% of consumers willing to abandon purchases due to unavailable payment options, Ecommpay is committed to adding market-specific APMs to its platform. MB Way is the latest addition to its 100+ APMs, ensuring merchants can simplify international expansion, cater to local preferences, and provide seamless payment experiences worldwide.
Conclusion
Ecommpay’s integration of MB Way strengthens its commitment to payment diversity and seamless global transactions. By enabling merchants to accept Portugal’s leading e-wallet, businesses can expand effortlessly into the Portuguese market while reducing cart abandonment and optimizing customer experiences.
As e-commerce continues to grow, offering localized, trusted payment solutions is critical to consumer trust and conversion rates. MB Way’s strong market penetration, ease of use, and mobile-first approach make it a powerful tool for businesses targeting Portuguese consumers.
Ecommpay remains dedicated to simplifying the fragmented APM landscape, ensuring merchants can access over 100 payment methods to reach new markets efficiently. With MB Way onboard, Portugal is now within easier reach for global merchants.
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