Ecommpay's Game-Changer: MB Way Integration Revolutionizes Payments in Portugal

Summary:

Ecommpay integrates with MB Way, enhancing payment options in Portugal.
MB Way captures 45% of the eCommerce market with half of bank account holders as users.
75% of consumers may abandon purchases without preferred payment methods.
MB Way allows EUR payments and easy fund management via mobile app.
57% of young adults in Portugal use MB Way for online shopping.

Ecommpay Integrates with MB Way for Enhanced Payment Solutions

Ecommpay, an inclusive payments platform, has successfully integrated MB Way, the leading Portuguese e-wallet, facilitating faster and cheaper pay-ins and refunds. With MB Way capturing 45% of the eCommerce transaction market and reaching half of all Portuguese bank account holders, this partnership is set to transform the online payment landscape in Portugal.

Ecommpay Integration

Rosanna Helm-Visscher, Global Head of Partnerships at Ecommpay, highlights that nearly 75% of consumers may abandon online purchases if their preferred payment method is unavailable. This integration aims to optimize checkouts for merchants using local Alternative Payment Methods (APMs), including MB Way.

Ecommpay's merchant clients across various regions can now offer MB Way as a payment option, streamlining their entry into the Portuguese market. The MB Way e-wallet allows users to make EUR payments, send or request money, and manage funds via a mobile app without repeatedly entering card details. Customers can simply select the MB Way option during checkout, enter their mobile number, and validate transactions using their MB Way PIN or TouchID.

With support from 28 banks, MB Way boasts 95% market coverage in Portugal. Notably, 57% of young adults utilize MB Way for eCommerce, demonstrating its popularity and relevance among the younger demographic.

Rosanna Helm-Visscher emphasizes the goal of simplifying the fragmented APM landscape for merchants, stating that Ecommpay now features over 100 APMs on its platform. The inclusion of MB Way allows merchants to expand into Portugal without the complexities of engaging a local Payment Service Provider, thus reducing friction and potential cart abandonment.

Source: IBS Intelligence