IfThenPay
IfThenPay is a Bank of Portugal-authorized payment institution (registration 8707) running a multi-method digital payments gateway — Multibanco, MB WAY, cards, Apple/Google Pay, PIX, Cofidis Pay, Direct Debits, and POS — across the EEA, serving 36,000+ merchants and €2B+ in annual payment volume via API, plugins, and SDKs.
- Company typePrivate
- Founded2005
- HeadquartersSanta María De Palautordera, Spain
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What IfThenPay does
IfThenPay is a Portuguese payment institution founded in 2005 and regulated by the Bank of Portugal under registration no. 8707, authorized to operate across the European Economic Area under PSD2. The company operates a multi-method digital payments gateway supporting Multibanco references, MB WAY mobile payments, Payshop cash references, Visa/Mastercard credit cards, Apple Pay, Google Pay, Brazilian PIX, Cofidis Pay installment financing, and SEPA Direct Debits. Headquartered in São João de Ver, Santa Maria da Feira, Portugal, it serves e-commerce merchants, invoicing-software users, brick-and-mortar retailers, and remote service providers through a REST API, official PHP/JavaScript SDKs on Packagist and NPM, and 20+ marketplace plugins spanning Shopify, WooCommerce, Magento, PrestaShop, BigCommerce, Odoo, Salesforce (AppExchange), Moodle, Sage, WHMCS, MemberPress, WPForms, Gravity Forms, and additional CMS and e-commerce platforms.
The technology stack includes proprietary Multibanco reference generation with check-digit validation enabling offline reference creation, a centralized Backoffice management platform, native iOS and Android applications with mobile refund support, and an MCP Server that exposes payment operations to AI agents (ChatGPT, Claude, Cursor, VS Code). Commercial economics follow a pay-as-you-go transaction model with no monthly fees, lock-in, or exclusivity contracts: MB WAY at €0.07+0.7%, Multibanco at €0.20+1.5%, Payshop at a flat €0.57, EEA credit cards at 0.7%, Direct Debits at €0.45, and PIX at €0.20+3.5%, with CLASSIC and SMART POS terminals available at €12/month recurring rental. Adjacent products include WeoInvoice (free integrated e-invoicing), PINPAY (PIN-code payment routing), ifthenpay.me (QR code and link payments), and Pay By Link.
IfThenPay is privately held with no disclosed external funding rounds and has grown organically to serve 36,000+ merchants processing €2B+ in annual payment volume. The 11–50 employee organization operates a developer-first go-to-market combining self-serve SMB sign-up via the website, plugin marketplace and GitHub distribution, channel/partner integrations, and direct enterprise sales for POS and recurring-billing deployments. Notable enterprise adopters include CTT (Correios de Portugal). The company has been recognized as Portal da Queixa's Recommended Brand in 2025 and 2026. Recent strategic actions include the launch of an MCP Server for AI-agent integration (June 2026), Salesforce AppExchange listing (April 2025), Direct Debit service launch (October 2024), JavaScript SDK release (March 2025), and ongoing WordPress ecosystem investment.
IfThenPay firmographics
Firmographics- Name
- IfThenPay
- Legal name
- ifthenpay, Lda.
- Website
- https://ifthenpay.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- IfThenPay is a Bank of Portugal-authorized payment institution (registration 8707) running a multi-method digital payments gateway — Multibanco, MB WAY, cards, Apple/Google Pay, PIX, Cofidis Pay, Direct Debits, and POS — across the EEA, serving 36,000+ merchants and €2B+ in annual payment volume via API, plugins, and SDKs.
- Ownership category
- akta.pro rank
IfThenPay industry classification
Industry- Product category
- Payment Gateway / Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)
Keywords
Where IfThenPay is headquartered
LocationHeadquarters
- HQ city
- Santa María De Palautordera
- HQ country
- Spain
- HQ region
- Europe
Offices1 record
Markets served
IfThenPay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Transaction Fees - MB WAY: Per-transaction commission of €0.07 + 0.7% for MB WAY payments. No monthly fees or minimum transaction requirements.
- Transaction Fees - Multibanco: Per-transaction commission of €0.20 + 1.5% for Multibanco payments. No monthly fees or lock-in periods.
- Transaction Fees - Payshop: Fixed per-transaction commission of €0.57 for Payshop payments.
- Transaction Fees - Credit Card: Per-transaction commission of 0.7% for credit card consumer payments within EEA.
- Transaction Fees - PIX: Per-transaction commission of €0.20 + 3.5% for PIX payments.
- Transaction Fees - Direct Debit: Per-transaction commission of €0.45 for SEPA Direct Debit payments.
- POS Terminal Rental: Monthly rental fees for POS terminals. CLASSIC POS and SMART POS options available at €12/month rental rate.
- Cofidis Pay Integration: No commission charged by ifthenpay for Cofidis Pay integration. Cofidis provides installment financing based on factoring agreement with merchant.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | MB WAY Online Payments |
| Transaction based/ take rate | Pay-as-you-go | Multibanco Online Payments |
| Transaction based/ take rate | Pay-as-you-go | Payshop Online Payments |
| Transaction based/ take rate | Pay-as-you-go | Credit Card Consumer (EEA) |
| Transaction based/ take rate | Pay-as-you-go | PIX International Payments |
| Transaction based/ take rate | Pay-as-you-go | Direct Debit SEPA |
| Transaction based/ take rate | Pay-as-you-go | Cofidis Pay |
| Subscription | Monthly | CLASSIC POS Terminal |
| Subscription | Monthly | SMART POS Terminal |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels9 records
IfThenPay product offering
Product offeringCore offering
IfThenPay provides an electronic payment gateway and financial services for businesses, supporting multiple payment methods including Multibanco, MB WAY, Payshop, credit cards, Google Pay, Apple Pay, Cofidis Pay, PIX, SEPA Direct Debits, Pay by Link, and PINPAY. The company offers merchant integration via REST API, official SDKs, and 20+ e-commerce and invoicing platform plugins, plus POS terminals and a centralized backoffice for transaction management. Its solutions serve both online (e-commerce, invoicing) and in-person (retail) payment acceptance for businesses across the European Economic Area.
Product overview
IfThenPay is a Portuguese fintech payment institution (regulated by Bank of Portugal, registration 8707) offering a comprehensive digital payments platform operating across the European Economic Area. The core offering centers on a multi-payment-method gateway supporting Multibanco, MB WAY, Payshop, Credit Card, Google Pay, Apple Pay, Cofidis Pay, Pix, Direct Debits, and PINPAY. The platform provides merchants with multiple integration channels: an API for custom development, official plugins for major e-commerce platforms (Shopify, WooCommerce, Magento, PrestaShop, BigCommerce, Odoo, Salesforce), and managed solutions including Pay By Link, QR Code payments via ifthenpay.me, payment forms, document integration, and POS terminals (Classic and Smart). Supporting infrastructure includes the Backoffice for merchant management, mobile applications for iOS and Android, and a PHP/JavaScript SDK ecosystem. The MCP Server extends AI agent integration capabilities for automated payment workflows.
Differentiator
Problem solved
Functional benefit
Brands
- Pay By Link: Feature available in backoffice, mobile app, and API that allows sending payment links directly to customers
- ifthenpay.me
- PinPay
- Direct Debits
- POS Terminals
Products and services
- Multibanco Payment References Payment reference system enabling customers to pay through ATMs, online banking, or mobile banking apps across Portugal using unique entity and reference numbers generated through the ifthenpay gateway.
- MB WAY Portuguese mobile payment solution integrated with the Multibanco network that enables customers to make payments, transfer money, and withdraw cash using their mobile phones.
- Payshop Cash-based payment method allowing customers to pay at physical locations including kiosks, convenience stores, and authorized CTT agents using a unique reference code.
- Credit Card Processing Payment processing for Visa, Mastercard, and other card schemes supporting both online and in-store transactions across the European Economic Area.
- Google Pay Digital wallet acceptance enabling customers to make payments, send money, and manage loyalty cards from Android mobile devices using NFC technology.
- Apple Pay Secure digital payment acceptance for Apple devices using NFC technology, biometric authentication (Touch ID or Face ID), and tokenization for online and in-store transactions.
- Cofidis Pay Installment financing solution enabling customers to spread purchases over time with 0% interest and fees through a factoring agreement between Cofidis (Bank of Portugal registration no. 921) and the merchant.
- PIX Brazilian instant payment solution developed by the Central Bank of Brazil enabling secure real-time transactions 24/7 for merchants serving Brazilian customers.
- Pay By Link Payment link solution allowing merchants to send payment links directly to customers via email, SMS, or integrated into websites and social media, with no online store required.
- ifthenpay.me QR Code and link-based payment solution allowing merchants to receive in-person or remote payments without POS terminals by placing printed QR codes at store counters or integrating links on websites.
- Forms Payment form solution enabling product and service sales without a website or payment checkout, redirecting customers to the ifthenpay payment gateway after form submission.
- Documents Integration of payment methods into traditional documents such as invoices and quotes, with most billing software offering integration or easy adaptability.
- Direct Debits SEPA-compliant mechanism for recurring payment collection enabling companies to automate financial processes, available through Backoffice (manual management) or API (automated integration).
- PINPAY Service that simplifies invoice and purchase payments through a unique PIN code that directs users to select their preferred payment method securely.
- POS Terminals (Classic and Smart) Physical point-of-sale terminals accepting cards, contactless, MB WAY, Apple Pay, and Google Pay. CLASSIC POS features keyboard, robust design, integrated printer; SMART POS features touch screen, Wi-Fi, and direct billing capability. Both available at €12/month rental.
- MCP Server for AI Integration Model Context Protocol server enabling AI assistants and AI-powered applications to generate Multibanco references, initiate MB WAY requests, create Pay By Link payments, and access payment history via natural language commands.
Quantifiable outcome
- 2 billion euros+ annual payment volume processed
- +3 more outcomes
Companies that use IfThenPay
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles3 records
IfThenPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration25 records
AI capability2 records
Feature6 records
IfThenPay partnerships and signals
Strategic signalPartnerships
33 partnerships are on record, tiered core and supporting.
- SalesforcecoreIntegration with Salesforce CRM platform enables payment management and automation within Salesforce environment. Available on Salesforce AppExchange, allowing businesses to centralize payment workflows, reconciliation, and transaction tracking directly in Salesforce.
- VISAcorePartnership between ifthenpay and VISA for credit card payment processing. Enables Visa card acceptance as part of ifthenpay's multi-payment-method platform.
- PAYSHOP (CTT Group)corePartnership agreement signed between PAYSHOP (CTT Group) and ifthenpay for payment solutions. Payshop is a cash-based payment method available at kiosks, convenience stores, and authorized agents throughout Portugal, integrated into ifthenpay's payment ecosystem.
- SIBS (Sociedade Interbancária de Serviços)coreSIBS provides the Multibanco payment infrastructure that underpins ifthenpay's core payment reference services. Strategic payment network integration enabling Multibanco payment acceptance.
- CofidiscoreCofidis provides installment financing (Cofidis Pay) integrated into ifthenpay gateway. Enables 0% interest installment payments through factoring agreement with merchants. Cofidis is registered with Bank of Portugal under no. 921.
- LemonwaysupportingIntegrated third-party financial service provider for payment processing, referenced in ifthenpay's privacy policy as part of their integrated service ecosystem.
- Shift4supportingIntegrated payment technology provider referenced in ifthenpay's privacy policy for card payment processing services.
- EBANXsupportingIntegrated payment processor referenced in ifthenpay's privacy policy for international payment processing services.
- Gravity FormssupportingOfficial ifthenpay integration plugin for Gravity Forms WordPress plugin, enabling payment collection through forms using Multibanco, MB WAY, Payshop, Credit Card, Google Pay, Apple Pay, PIX, Pay By Link and PinPay.
- WPFormssupportingOfficial ifthenpay integration for WPForms WordPress plugin, supporting multiple payment methods and automatic payment confirmation. Compatible with WPForms Lite and Pro versions.
- MemberPresssupportingIntegration with MemberPress WordPress plugin for membership management, subscriptions, and paid content, enabling ifthenpay payment methods for recurring membership payments.
- WooCommercecoreMost downloaded WordPress e-commerce plugin with ifthenpay integration supporting Multibanco, MB WAY, Payshop, Credit Card, Google Pay, Apple Pay, and PIX payment methods.
- ShopifycoreOfficial ifthenpay plugin for Shopify platform with more payment methods and no additional Shopify fees. Enables Shopify merchants to accept Portuguese and international payment methods.
- MagentosupportingOfficial ifthenpay plugin for Magento V2, robust e-commerce platform for medium and large-scale businesses.
- PrestaShopsupportingOfficial ifthenpay integration for PrestaShop open-source e-commerce platform.
- BigCommercesupportingOfficial ifthenpay integration for BigCommerce scalable multichannel sales platform.
- OdoosupportingOfficial ifthenpay payment gateway integration in Odoo modular ERP system for business management, invoicing, and sales. Available on Odoo Apps marketplace.
- MoodlesupportingOfficial ifthenpay plugin for Moodle e-learning platform enabling online course payment integration.
- SagesupportingIntegration with Sage accounting and invoicing software expanding payment options for Sage customers.
- Bitrix24supportingOfficial ifthenpay payment gateway app available on Bitrix24 marketplace for CRM platform with sales, automation, and collaboration tools.
- WixsupportingOfficial ifthenpay integration for Wix website builder platform with integrated e-commerce features.
- OpenCartsupportingOfficial ifthenpay plugin for OpenCart open-source e-commerce platform.
- SquarespacesupportingOfficial ifthenpay integration for Squarespace all-in-one website creation platform.
- WHMCSsupportingOfficial ifthenpay integration for WHMCS billing and client management system for digital services and hosting.
- EcwidsupportingOfficial ifthenpay gateway integration for Ecwid e-commerce platform to add online store to any website.
- Joomla + VirtuemartsupportingOfficial ifthenpay integration for Joomla content management system with Virtuemart e-commerce extension.
- Google FormssupportingOfficial ifthenpay integration for Google Forms enabling online payment collection through forms.
- WooCommerce (Third-party)supportingThird-party WooCommerce plugin 'Multibanco Ifthen Software Gateway' available on WordPress.org for Portuguese WooCommerce stores.
- DrupalsupportingThird-party Drupal commerce_ifthenpay module for flexible CMS and web applications.
- nopCommercesupportingThird-party ifthenpay integration for nopCommerce open-source .NET e-commerce platform.
- JumpSellersupportingThird-party ifthenpay integration for JumpSeller e-commerce platform focused on simplicity.
- Loja9supportingDigital commerce agency providing ifthenpay integration support for online stores, corporate websites, and e-commerce strategies.
- WeoInvoicesupportingIntegration partnership with WeoInvoice online platform for electronic invoicing, receipts, and tax management. Integrated into ifthenpay backoffice for free and unlimited invoicing.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
IfThenPay competitors and assessment
Company assessmentBroad incumbents
- Stripe: Global payment platform with extensive API and developer experience plus growing local APM coverage across EEA, representing the broad incumbent competitive benchmark for European gateways on developer experience, scale, and pricing.
- Adyen: Global unified payments platform for enterprise and SMB merchants, comparable to ifthenpay in accepting cards and local methods via a single API but at vastly larger scale and enterprise posture.
- Worldline: Major European payments processor offering POS terminals and online acquiring services, similar business scope to ifthenpay (gateway + POS) but with European-wide scale and institutional merchant base.
- SIBS Payments: Operator of the Multibanco and MB WAY networks that underlie much of ifthenpay's offering; a large Portuguese payments incumbent that could vertically integrate merchant-facing gateway services and represent both infrastructure provider and competitive threat to ifthenpay.
Emerging players
- PPRO: Payment orchestration platform specializing in local APM enablement (including Multibanco, MB WAY) for PSPs and merchants, adjacent to ifthenpay's APM-centric offering and a potential orchestrator or competitor.
- Payshop (CTT Group): Cash-based payment network operated by CTT (Portuguese national postal service) integrated into ifthenpay as a payment method; while currently a partner, its parent CTT could potentially offer competing gateway services, making it both a complementary rail and a potential regional competitor.
Direct peers
- Checkout.com: European-headquartered PSP providing API-first payment gateway solutions with local APM support, comparable technology positioning (API-first, multi-rail gateway) and target over mid-market and SMB merchants.
- Easypay (Portugal): Portuguese payment institution providing online payment gateway solutions (Multibanco, MB WAY, credit cards, direct debits) targeted at SMBs, offering a comparable product suite and pricing model directly competitive to ifthenpay.
- Mollie: European payment service provider offering multi-method checkout (cards, SEPA, APMs) with strong plugin ecosystems for e-commerce platforms, operating in adjacent EU markets with overlapping SMB and e-commerce merchant targets to ifthenpay.
- EuPago: Portuguese payment gateway offering Multibanco, MB WAY, and other local payment methods to merchants, directly competing with ifthenpay in the same Portuguese SMB and e-commerce segments with overlapping APM and card-processing capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
IfThenPay social profiles
Digital presenceIfThenPay compliance and trust
Trust signalCompliance4 records
IfThenPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
IfThenPay leadership team
Management profileNumber of profiles
Profiles1 record
IfThenPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IfThenPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IfThenPay
What does IfThenPay do?
IfThenPay provides an electronic payment gateway and financial services for businesses, supporting multiple payment methods including Multibanco, MB WAY, Payshop, credit cards, Google Pay, Apple Pay, Cofidis Pay, PIX, SEPA Direct Debits, Pay by Link, and PINPAY. The company offers merchant integration via REST API, official SDKs, and 20+ e-commerce and invoicing platform plugins, plus POS terminals and a centralized backoffice for transaction management. Its solutions serve both online (e-commerce, invoicing) and in-person (retail) payment acceptance for businesses across the European Economic Area.
Is IfThenPay a public or private company?
IfThenPay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was IfThenPay founded?
IfThenPay was founded in 2005. It employs 11 to 50 people.
Where is IfThenPay based?
IfThenPay is headquartered in Santa María De Palautordera, Spain, in the Europe region.
How does IfThenPay make money?
Eight revenue lines are on record. Transaction Fees - MB WAY is the primary driver. The others are transaction Fees - Multibanco, transaction Fees - Payshop, transaction Fees - Credit Card, transaction Fees - PIX, transaction Fees - Direct Debit, POS Terminal Rental and cofidis Pay Integration.
Who are IfThenPay's main competitors?
Broad incumbents on record are Stripe, Adyen, Worldline and SIBS Payments. Emerging players are PPRO and Payshop (CTT Group). Direct peers are Checkout.com, Easypay (Portugal), Mollie and EuPago.
Does IfThenPay have an API?
Yes. REST API allowing merchants to generate payment references (Multibanco, MB WAY, Payshop, Credit Card), initiate payments, manage direct debits, process refunds, activate callbacks/webhooks for real-time payment notifications, and query payment history. Supports sandbox testing mode. Authentication via JWT bearer tokens and API keys (MB KEY, MBWAY KEY, PAYSHOP KEY, CCARD KEY, GATEWAY KEY, DD KEY, PIX KEY, COFIDIS KEY). Available for multiple payment methods including Multibanco, MB WAY, Payshop, Credit Card, Google Pay, Apple Pay, Cofidis Pay, Direct Debit, Pix, and Pay By Link/PINPAY. Developer documentation is at www.ifthenpay.com/docs/en.
What industry is IfThenPay in?
IfThenPay's product category is Payment Gateway / Payment Processing. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAGABAJ, Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails). Its NAICS code is 522320 and its SIC code is 6199.