Revolut Integrates with Portugal's MB Way Network, Bolstering Local Presence

Revolut Joins MB Way for Enhanced Services

Revolut, the global financial technology company, has officially integrated into Portugal's MB Way network as of Monday, October 6, 2025. This strategic move allows Revolut customers in Portugal to perform instant transfers directly through the app, aligning its services with those offered by traditional Portuguese banks. The integration is a crucial step in Revolut's stated goal of becoming one of the top three financial institutions in the country by customer numbers.

Overcoming Key Barriers and Expanding Functionality

The agreement with SIBS, the operator of the Multibanco network, addresses what Revolut previously identified as 'the biggest barrier to becoming the main bank account for Portuguese people.' With this integration, Revolut users gain access to a comprehensive range of local payment functionalities:

• Instant payments and transfers (online and offline) using QR codes.
• The ability to pay bills, service charges, and taxes to the State using Multibanco references.
• Cash withdrawals at ATMs.
• The introduction of a virtual Revolut Multibanco card, facilitating payments at Point of Sale (POS) systems not compatible with Visa.

Ignacio Zunzunegui, Revolut's Head of Growth in Southern Europe, emphasized the importance of the Multibanco network for success in Portugal, noting that the expectation for a local IBAN has already accelerated growth.

Portuguese IBAN Rollout and Future Ambitions

In parallel with the MB Way integration, Revolut has also launched Portuguese IBANs (PT50), with a gradual migration of its more than 2 million customers to the new local branch (Revolut Bank UAB – Branch in Portugal) expected to be completed by the end of 2025. This development simplifies services such as direct debits and salary reception, making Revolut a more viable option for customers seeking a primary bank account. Rúben Germano, Head of Revolut in Portugal, highlighted that the Portuguese IBAN will enable Revolut to be 'present in more moments of the customer's daily life, becoming their main account.'

MB Way, launched in 2015 by SIBS, is a widely adopted mobile payment system in Portugal, linking mobile numbers to bank cards for instant transactions. It boasts over 3.5 million users and holds a 45% market share in e-commerce transactions, supported by 28 banks covering 95% of the market. Revolut's entry into this established ecosystem is set to intensify competition within the Portuguese financial sector, as the fintech aims to solidify its position among the country's leading banking providers.