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Pay by Bank (PT)

Pay by Bank in Portugal enables account-to-account payments using local banking infrastructure. It is relevant for online commerce, invoices, services and business payments. For international merchants, Pay by Bank helps localize payment acceptance and gives Portuguese customers a secure way to pay directly from their bank account.

Method
Pay by Bank (PT)
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
No
Authorization currency
EUR
Authorization
speed
Instant
Recurring
No
No
Notify when available

Reasons for Popularity

There are no officially registered Third-Party Providers (TPPs) within Portugalowever, approximately 74 European TPPs have been passported to operate in Portugal, indicating an active interest in the country’s open banking sector

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