Top payment methods in Portugal: A guide on best ways to pay
Wondering what the most popular ways to pay are in Portugal? Explore the top payment options and choose wisely.
Portugal, with a population of around 10.71 million people, has a GDP of approximately 321.44 billion making it the 46th largest economy in the world. The official currency of Portugal is the Euro (EUR)
The economy is based on services, particularly tourism, and a diversified manufacturing sector. As a member of the European Union and the Eurozone, it is closely integrated with the European market, with Spain as its largest trading partner.
| Country | Portugal |
|---|---|
| Population | 10.71 million |
| GDP (USD) | 321.44 billion |
| Global Ranking | 46th |
| Currency | Euro (EUR) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in Portugal?
Portugal has a unique and highly trusted payment system called Multibanco, where its debit card is used for POS payments and its "Multibanco reference" option is a top method for paying bills and online purchases at an ATM or via online banking. The system's mobile extension, MB WAY, is very popular for instant P2P transfers and in-store QR code payments. Standard contactless debit and credit cards are also a primary method for everyday retail transactions.
How to pay in Portugal
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Portugal.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Multibanco | Multibanco is a unique and ubiquitous interbank network. It allows users to pay for almost anything, from taxes to concert tickets, by generating a reference number to pay at an ATM or via online banking. It's a dominant payment method. | Online/In-person |
| Cards (Debit/Credit) | Debit and credit cards are a primary and widely accepted payment method for everyday retail transactions. | Online/In-person |
| SEPA Bank Transfers | As a Eurozone country, SEPA transfers are standard for recurring bills and large B2B or P2P payments. | Online |
| Cash (Euro) | Cash is a very common payment method and is used frequently for smaller purchases at cafes, markets, and local shops. | In-person |
Traveling beyond Portugal? Explore payment methods by country.
Is PayPal available in Portugal?
Yes, PayPal is accepted in Portugal.
Cover all your international travel expenses with the Wise Multi-Currency Card
Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.