SIBS introduces new MB Way function for retailers

The Portuguese payment solutions company SIBS has introduced new functions to its mobile payment application MB Way.

It means that MB Way will allow retailers and traders to accept payments without needing a device to read a bank card.
The new function, which has been introduced to keep pace with demand for the subscription economy which has become more popular since the pandemic, will enable users to manage their subscriptions on MB Way.
“The ability to manage our subscriptions and signatures via MB Way will be available very soon with MB Way, using many services which have recurrent payments”, said Madalena Tomé, CEO of SIBS at the New Money conference organised by the online news source ECO recently.
It means that MB Way will “allow retailers and traders to accept payments without needing a device to read a bank card”.
“Just as we made it possible to make payments via mobile phone, we can also accept payments. Using MB Way, QR Code or contactless, shopkeepers and traders, or any other person who needs to accept a payment can use their mobile phone to receive payments. We have launched the service in Poland and Romania and we are launching in other markets where we are present”, she said.
“Clearly this will be the path to scrapping physical payment terminals as we know them”, said Madalena Tomé at the conference which was held at the premises of the law firm Morais and Leitão in Lisbon.