- Founded
- 2014-01-01 in Porto, Portugal
- Headquarters
- Porto, Portugal
EuPago is a Portuguese payment institution that provides a comprehensive suite of online and offline payment solutions for businesses of all sizes. Licensed and supervised by the Bank of Portugal since 2015, the company operates under the European Payment Services Directive (PSD2) and was the first payment institution in Portugal to offer open banking capabilities. Founded in 2014 in Porto by José Veiga and Telmo Santos, EuPago emerged from the founders' own need for affordable, accessible payment integration for small and medium-sized businesses. The company enables merchants to accept a wide range of payment methods, including Multibanco references, MB WAY, credit and debit cards (Visa, Mastercard), digital wallets (Google Pay, Apple Pay), installment payments via Cofidis Pay and FLOA, direct debits, SEPA transfers, Payshop, Paysafecard/Paysafecash, and local methods such as Bizum (Spain) and Europix (Brazil). EuPago integrates with major e-commerce platforms (Shopify, WooCommerce, Prestashop, Jumpseller, Magento) and accounting software (InvoiceXpress, PHC, Moloni, Sage), and offers a RESTful API for custom integrations. The company remains unfunded by external investors, growing organically since its founding, and has won the 5 Estrelas Award for best business payment solution in consecutive years. Headquartered in Porto with a share capital of €1 million, EuPago emphasizes close customer support, responding to 96.7% of requests in under two hours.
Detailed Review
History and Founding
EuPago was founded in 2014 in Porto, Portugal, by José Veiga and Telmo Santos. Veiga, then CEO of the online sales portal Insania, and Santos, a programmer, identified a gap in accessible and affordable payment integration for small and medium-sized businesses. The company was officially registered as a payment institution with the Bank of Portugal in 2015 and has since expanded its service portfolio to become one of the leading payment gateways in the Portuguese market. EuPago claims to have been the first payment institution in Portugal to operate open banking.
Products and Services
EuPago’s core offering is a unified payment gateway that aggregates multiple payment methods through a single API and backoffice interface. The product suite includes Multibanco references (a Portuguese bank-slip system), MB WAY (mobile payment via phone number), credit card processing (Visa and Mastercard), digital wallets (Google Pay, Apple Pay), installment payment solutions (Cofidis Pay and FLOA), direct debit and SEPA transfers, Payshop (over-the-counter cash payments), Paysafecard and Paysafecash (prepaid solutions), Bizum (Spanish mobile payment), and Europix (Brazilian instant payment method). The platform also supports Pay by Link, enabling businesses without a website to send payment requests via email or SMS. EuPago provides native integrations with major e-commerce platforms such as Shopify, WooCommerce, Prestashop, Jumpseller, and Magento, as well as accounting software like InvoiceXpress, PHC, Moloni, and Sage. For custom integration, it offers a RESTful API and has partnerships with legal software providers.
Market Position and Competitors
Despite being a relatively small player compared to international PSPs, EuPago has carved a strong niche in the Portuguese market, winning the 5 Estrelas Award for best business payment solution in consecutive years. The company remains unfunded by venture capital, with no disclosed funding rounds, and has grown organically. Its target clients include e-commerce and marketplace operators, SMEs with or without websites, service providers (clinics, consultancies, freelancers), recurring billing businesses, and organisations such as associations, clubs, and schools. EuPago emphasises regulatory compliance, operating under the Bank of Portugal’s supervision and adhering to PSD2 security standards, including strong customer authentication (SCA).
Leadership and Ownership
The company is led by its two founders, who serve as co-CEOs. José Veiga is the CEO of the Eupago Group, and Telmo Santos is co-founder and co-CEO. No other C-level executives (CTO, CCO, COO, CFO) are publicly listed. EuPago is 100% Portuguese, headquartered in Porto, and has a share capital of €1 million. The company does not disclose revenue or headcount publicly; third-party platforms suggest a small-to-medium team. EuPago’s values—innovation, agility, transparency, proximity, active listening, and ambition—are reflected in its customer support metrics and product development cadence.
Key Products
Multibanco References
Generate bank reference payments for online stores, a standard Portuguese payment method.
MB WAY
Mobile payment solution that allows customers to authorise payments via their phone number.
Credit Card Processing
Accept Visa and Mastercard payments online, in-person, or via Pay by Link.
Digital Wallets
Google Pay and Apple Pay integration for one-click checkout.
Cofidis Pay
Installment payment solution allowing customers to split purchases into monthly payments.
FLOA
Buy-now-pay-later (BNPL) solution for split payments at point of sale.
Direct Debit & SEPA Transfers
Recurring billing and one-off bank transfer capabilities.
Payshop
Over-the-counter cash payment network popular in Portugal.
Paysafecard / Paysafecash
Prepaid payment methods for anonymous online transactions.
Bizum
Spanish mobile payment integration for cross-border merchants.
Europix
Brazilian instant payment method for merchants selling to Brazil.
Pay by Link
Generate payment links for businesses without a website, sent via email or SMS.
Eupago API
RESTful API for custom integration with any e-commerce platform or software.
E-commerce Integrations
Native plugins for Shopify, WooCommerce, Prestashop, Jumpseller, and Magento.
Accounting Software Integrations
Compatibility with InvoiceXpress, PHC, Moloni, and Sage.
Eupago Backoffice
Dashboard for transaction monitoring, reconciliation, reporting, and payment confirmation.
Key Persons
- Telmo Santos
Co-founder and Co-CEO
Recent News
APAJO Files Complaint Against Unlicensed Gambling Sites and Payment Provider EuPago
APAJO has filed complaints with Portugal's Public Prosecutor's Office against four unlicensed gambling platforms and payment provider EuPago, alleging facilitation of illegal transactions. Meanwhile, consumer group DECO PROteste reports a doubling of complaints about online gambling platforms in the first half of 2026 compared to 2025.
2026-07-15