MultiBanco NET

MultiBanco NET (MB NET) allows Portugese shoppers to do payments through the Internet by using virtual credit cards (issued online). Depending on the card system, one will get American Express, Visa or MasterCard cards. To generate a virtual credit card the shopper must login at the MB NET site and enter a limit. Then the site instantly gives the credit card number and security codes (CVC2 and CVV2) to pay for online purchases. The virtual cards are meant for a one time use or multiple uses (to be determined by consumer). Registration to use MB NET is required. To do so, consumers must go to a Multibanco ATM or one's home banking website (if the bank allows that). The client sets a password but the username is given by the system. Merchants can accept these MultiBanco NET payments over their existing credit card processing rails, as long as they accept MasterCard, Visa and AMEX online.