Mbps stands for “Mega Bits Per Second” and refers to data transfer speeds as measured in Megabits. One Megabit is a little over one million bits, and Mbps indicates the transfer of one million bits of data each second. Mbps should not be confused with Megabytes, (or MB), which is a unit of data transfer. The higher number of Mbps that you have available, the faster your computer will upload to and download MB from the Internet.