Best payment gateways for e-commerce in Portugal

The importance of choosing payment methods for e-commerce

Considering the increase in online shopping, one of the most important aspects for anyone setting up an online store or wanting to maintain good results in their online store is ensuring that customers have access to secure, convenient and popular payment gateways. The payment gateways have a direct impact on the customer's shopping experience and the online store's sales, so choosing the right payment methods is a fundamental factor to include in any e-commerce strategy.

“44% of the population living in Portugal, aged between 16 and 74, made purchases over the Internet in the three months prior to the survey.” ANACOM 2023.

Which payment gateway is most used in Portugal?

In Portugal, the credit card - VISA and MasterCard - is one of the most used payment methods in online stores. However, payment gateways such as MB Way have gained popularity due to their convenience, speed and compatibility with mobile devices. In addition, PayPal payments continue to be widely used, especially for purchases in international online stores.

“When it comes to online purchases, 33% of Portuguese consumers surveyed choose to pay via MB Way and 30% prefer to use Paypal,” according to a 2023 Ayden Report, quoted in Sapo Tek.

What is the most secure payment gateway?

Security should be a priority for any online store. Methods that use two-factor authentication, data encryption and fraud protection are considered more secure, and PayPal stands out for its enhanced security of users' personal data.

Payment gateways such as MB Way and 3D Secure cards provide added security by ensuring that only the cardholder can authorize transactions.

What payment gateways are recommended for online stores?

When deciding which payment gateways to make available to customers in your online store, you need to consider your target audience and their preferences.

In Portugal, it is recommended that online stores offer payment gateways such as MB Way due to its growing popularity, especially among the younger public; credit cards due to the fact that they are still widely used, making them essential for reaching a wider audience; PayPal because it is widely recognized internationally and values security and practicality; Multibanco references because it is still a widely used payment gateway that allows secure payments; bank transfers, because although they are less convenient than other payment gateways, they are useful for larger transactions.

What are considered the best payment gateways for online stores?

The best payment methods for online stores depend on various criteria, such as convenience and security. The more diverse the payment gateways available in your online store, the less likely it is that this will be a reason for the customer to abandon the cart.

The right choice of payment gateways can directly influence your customers' experience and, consequently, your online store's sales. However, payment gateways come with associated fees, so it is essential to understand the needs and preferences of your audience in order to offer the most practical and appropriate solutions.