What is a Multibanco reference?
It is a payment slip made of an entity code, a reference number and an amount, generated by a merchant or biller. The customer pays it at any Multibanco ATM or in home banking. Payment institutions such as easypay, ifthenpay and Eupago issue references for online shops.
In detail
It is a payment slip made of an entity code, a reference number and an amount, generated by a merchant or biller. The customer pays it at any Multibanco ATM or in home banking. Payment institutions such as easypay, ifthenpay and Eupago issue references for online shops.
How a Multibanco reference works
Multibanco references, made of an entity code, a reference number and an amount, let shoppers pay online orders and bills at any ATM or in their banking app. They run on Multibanco, the SIBS network that links Portuguese bank cards to ATMs, POS terminals and online payments, with about 13,000 ATMs. Customers can also settle references in cash at Payshop agents.
Issuing references as a merchant
Online, shoppers expect MB WAY, Multibanco references and cards at checkout. Payment institutions such as easypay, ifthenpay and Eupago issue Multibanco references and connect MB WAY, while acquirers such as REDUNIQ handle cards. A merchant should check whether a partner issues references under its own SIBS code.
More detail in our #PayWorldTour guide Payment methods in Portugal.