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 2023, 59 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 rose during the last years 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 2023.

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 March 2024, service and purchase card payments registered a value of over 2.1 billion euros. This was made possible by a network of more than 12,500 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. 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. However, their digital payment method of choice varies depending on the location of the transaction. For in-store purchases, debit card is the favorite payment instrument, while immediate transfers, made possible by online and mobile banking, have an advantage for online 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.

Portugal's payment landscape in becoming increasingly digital, but not careless

As the penetration of online banking rises in Portugal and the Portuguese embrace the advantages of the digitalization of payments, they particularly welcome mobile banking, since 67 percent of people process banking matters via their smartphone or tablet in 2024. Nevertheless, the Portuguese value safety when opting for a payment method, which contributes to the enhancement of a digital, but secure payment environment.
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, May 22, 2024

Key insights

Average value of digital payment operations in Portugal
35.4 EUR
Number of digital payment operations in supermarkets and hypermarkets in Portugal
755.54m
Preferred payment method in Portugal
Card or other cashless payment
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Current statistics on this topic

Digital payment distribution in Portugal from January 2023 to March 2024, by sector

Payments

Digital payment distribution in Portugal 2023-2024, by sector

Number of establishments providing payment services in Portugal from 2018 to 2023, by type

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Number of payment establishments in Portugal 2018-2023, by type

Preferred payment methods for online purchases in Portugal in 2023

Payments

Preferred methods of payment for online purchases in Portugal 2023

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