Portugal Mobile Payments Market Size, Share, Trends and Forecast by Mode of Transaction, Application and Region, 2025-2033

Portugal Mobile Payments Market Size, Share, Trends and Forecast by Mode of Transaction, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A42382

Portugal Mobile Payments Market Overview:

The Portugal mobile payments market size reached USD 10.66 Million in 2024. The market is projected to reach USD 52.18 Million by 2033, exhibiting a growth rate (CAGR) of 17.21% during 2025-2033. The market is driven by widespread smartphone adoption and improved digital infrastructure, which make transactions faster and more convenient. Consumer preference for contactless payments, such as through MB WAY, encourages frequent use, while the rise of e-commerce amplifies the demand for seamless payment options. Banks and government initiatives supporting digital finance further boost adoption. Security concerns and the need for enhanced digital literacy remain challenges, but overall, convenience, accessibility, and supportive policies are aiding the Portugal mobile payments market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 10.66 Million
Market Forecast in 2033	USD 52.18 Million
Market Growth Rate 2025-2033	17.21%

Portugal Mobile Payments Market Trends:

Widespread Smartphone Adoption

The adoption of smartphones in Portugal has transformed how consumers interact with financial services, making mobile payments a convenient option to traditional methods. Smartphones allow users to access digital wallets, banking apps, and contactless payment options anytime and anywhere. Features like biometric authentication, NFC technology, and app-based security enhance trust and usability, encouraging more frequent use. The ease of conducting transactions on-the-go, combined with the seamless integration of mobile payments into daily life, has made this channel increasingly popular. As people become accustomed to handling finances digitally, smartphone adoption acts as a key enabler for mobile payments, bridging the gap between consumers and merchants. This widespread access supports the Portugal mobile payments market growth of a mobile-first financial ecosystem, driving innovation and adoption in both urban and smaller communities.

Government Initiatives Promoting Digital Payments

Government policies in Portugal have played a decisive role in driving the shift toward mobile payments, creating a foundation of trust and efficiency. In 2024, electronic payment instruments represented 99.8% of all cashless retail payments via the national clearing system SICOI, underscoring the effectiveness of regulatory support in promoting digital adoption. By strengthening payment infrastructure and enforcing clear frameworks, regulators have enabled banks and FinTech companies to develop secure, user-friendly platforms that simplify everyday transactions. Policies aimed at financial inclusion ensure digital payments are accessible across all segments of society, reducing dependence on cash and enhancing convenience. Awareness campaigns and education initiatives further build confidence in mobile tools, encouraging both consumers and merchants to embrace them. Together, these measures highlight government involvement as a critical Portugal mobile payments market trend that support a more secure, inclusive, and cashless digital economy.

Growth of E-Commerce and Digital Transactions

The rise of e-commerce in Portugal has strongly influenced the adoption of mobile payments, reshaping consumer expectations around speed, security, and convenience. As more people shop online, the need for seamless payment solutions has grown, with e-wallets now accounting for around 34% of online purchases. Digital wallets, including MB WAY, lead the way as the most widely used payment method, offering instant, frictionless transactions that enhance user satisfaction and build trust in online shopping. Their integration with e-commerce platforms allows consumers to manage payments effortlessly, whether for goods, services, or subscriptions. This simplicity encourages repeated adoption, helping mobile payments become a standard in Portugal’s digital economy. The synergy between e-commerce growth and mobile wallet accessibility creates opportunities for retailers and financial institutions to innovate, while ensuring mobile payments remain central to the country’s evolving digital marketplace.

Portugal Mobile Payments Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on mode of transaction and application.

Mode of Transaction Insights:

WAP
NFC
SMS
USSD
Others

A detailed breakup and analysis of the market based on the mode of transaction have also been provided in the report. This includes WAP, NFC, SMS, USSD, and others.

Application Insights:

Entertainment
Energy and Utilities
Healthcare
Retail
Hospitality and Transportation
Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes entertainment, energy and utilities, healthcare, retail, hospitality and transportation, and others.

Regional Insights:

Norte
Centro
A. M. Lisboa
Alentejo
Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Norte, Centro, A. M. Lisboa, Alentejo, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Portugal Mobile Payments Market News:

In July 2025, MB WAY, Portugal’s leading mobile payment app, introduced NFC payments for iPhone users across Europe. This update follows the EU’s Digital Markets Act, which obliges Apple to open its NFC technology to third-party apps, previously limited to Apple Pay. With the change, MB WAY’s iOS users can now enjoy seamless contactless transactions, matching the experience long available to Android users and expanding convenience in everyday mobile payments.
In March 2025, EuroPA, a new alliance between Italy’s Bancomat, Spain’s Bizum, and Portugal’s MB WAY, launched cross-border instant payments in Southern Europe. Users can now send and receive money instantly across Italy, Spain, Portugal, and Andorra using just mobile numbers via their domestic apps. Built on SEPA Instant standards, the initiative strengthens European payment sovereignty, enhances interoperability, and paves the way for future services like merchant payments and request-to-pay solutions.

Portugal Mobile Payments Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Mode of Transaction Application Region
Mode of Transactions Covered	WAP, NFC, SMS, USSD, Others
Applications Covered	Entertainment, Energy and Utilities, Healthcare, Retail, Hospitality and Transportation, Others
Regions Covered	Norte, Centro, A. M. Lisboa, Alentejo, Others
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Portugal mobile payments market performed so far and how will it perform in the coming years?
What is the breakup of the Portugal mobile payments market on the basis of mode of transactions?
What is the breakup of the Portugal mobile payments market on the basis of application?
What is the breakup of the Portugal mobile payments market on the basis of region?
What are the various stages in the value chain of the Portugal mobile payments market?
What are the key driving factors and challenges in the Portugal mobile payments market?
What is the structure of the Portugal mobile payments market and who are the key players?
What is the degree of competition in the Portugal mobile payments market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Portugal mobile payments market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Portugal mobile payments market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Portugal mobile payments industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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Portugal Mobile Payments Market