Walletto expands payment capabilities with MB WAY integration

By Gloria Methri

Walletto, a European payments provider, has integrated MB WAY – powered by SIBS – into its acquiring services, enabling businesses to offer a faster, safer, and more seamless payment experience to customers in Portugal. As the country’s leading mobile payment method, MB WAY unlocks new opportunities for merchants to optimise their checkout process and increase conversions.

MB WAY holds a 45% share of the eCommerce transaction market in Portugal, making it the preferred choice for online shoppers. According to SIBS, the service boasts over 5 million active users and processes approximately 9 million purchases per month.

Customers can conveniently select MB WAY at checkout, enter their mobile number, and authenticate transactions using MB WAY PIN or TouchID. With the support of 28 banks, an overwhelming 94% of MB WAY users opt for it as their preferred payment method.

By integrating MB WAY through Walletto’s acquiring services, merchants can leverage a range of advantages, including:

Higher Conversion Rates: Customers can complete purchases quickly without inputting card details, reducing checkout friction. Research from SIBS Analytics shows that 57% of young adults in Portugal use MB WAY for eCommerce transactions.

Lower Cart Abandonment: The frictionless payment process improves the overall customer experience, reducing abandoned transactions.

Simple Integration: Businesses can easily integrate MB WAY into their online stores and start accepting payments in EUR.

Enhanced Security: MB WAY transactions maintain the same level of security as credit card payments, requiring user authentication via PIN or TouchID.

Flexible Refund Options: Walletto Acquiring supports both partial and full refunds, helping merchants provide superior customer service.

With its widespread adoption and ease of use, MB WAY enables businesses to reach a broader customer base, improve conversion rates, and enhance consumer trust. By allowing payments without requiring sensitive payment information, MB WAY ensures a smooth and secure transaction process that benefits both merchants and shoppers.