Digital payments in Portugal - statistics & facts

Digital payment methods are contributing to the emergence of an increasingly digital and almost cashless European society. Portugal is following this trend, with digital payments becoming more relevant in economic transactions. However, the complete eradication of cash is not an imminent prospect for the country, as it is still a very significant form of payment, especially in personal financial dealings.

Online and mobile banking are on the rise in Portugal

Online and mobile banking usage is growing among the Portuguese. In 2021, 64 percent of internet users in the country conducted transactions electronically over the internet. This practice is widespread among the population of all ages, although it is more pronounced among young adults. In fact, they are the ones who make the most use of online banking, as the number of youth bank accounts is on the rise after a sharp decline registered in 2013. Furthermore, the Portuguese mobile payment service MB Way, owned by Multibanco, registered its highest number of users in 2022.

Bank card payments dominate in Portugal

Debit and credit cards are the most used form of digital payment in the country, with a penetration rate of 79 percent. In June 2023, service and purchase card payments registered a value of almost 2.5 billion euros. This was made possible by a network of more than 12 thousand Multibanco automated teller machines (ATMs). While debit cards are more common among the Portuguese population, the upper and upper-middle classes make up the largest group of credit card holders. They are mainly used to make purchases, especially with the option of paying all monthly purchases at the end of the respective month. On average, the Portuguese make more bank card payments in supermarkets and hypermarkets. This is also the sector with the highest value of digital payments recorded in the country.

Use of payment apps in Portugal

In general, the Portuguese prefer cashless forms of payment, and almost half use payment apps. However, their digital payment method of choice varies depending on the location of the transaction. For in-store purchases, MB Way is the favorite payment instrument, while bank cards have an advantage for in-store purchases. In addition, the majority of the Portuguese believe that there will be greater investment in technologies allowing for digital payments in the future, but they also agree that cash will not become extinct from shopping routines.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Beatriz Luz, Jan 9, 2024

Key insights

Average value of digital payment operations in Portugal
38.3 EUR
Number of digital payment operations in supermarkets and hypermarkets in Portugal
813.4m
Most used payment method in Portugal
Physical credit / debit / prepaid bank card
Get more insights

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