Market Data Forecast’s "Italy Cards And Payments Market" report offers a distinct range of possibilities in the market of payment cards along with the accurately validated statistics of operational cards in the market and their total transactional values. It suggests profitable marketing strategies considering the competitive landscape in the market, purchase trends, payment options in online trade and significant government frameworks impacting the overall payment card market of Italy.
Our report kindles the hidden opportunities with dependable information about different types of cash transactions, volumes of cardholders, market proportion, current accounts, increase within the number of cards, credit cards outstanding balances, transactional values, details of the issuers at the side of available banking schemes and futuristic analysis of overall cards and payment marketplace in Italy.
The emergence of digital-only banks in Italy like the German-based mobile-only bank N26, allowing consumers to do complete banking transactions on their mobile phones, Hello Bank! by Banca Nazionale del Lavoro (BNL), and UniCredit Bank's mobile-only buddybank with services like current accounts, credit and debit cards, personal loans, and 24/7 personal assistance.
The advent of foreign payment service providers in alternative payments such as Apple Pay, Seqr mobile payment app by Sweden's Seamless, US's Boku acquisition of mobile view Italia and the partnership of Vodafone and PayPal allowing contactless payments for the customers by linking their accounts to Vodafone wallet is pushing the local payments markets.
Government initiatives to promote cashless and electronic transactions like No Cash Day Project and National project in association with Maestro, Mastercard, Visa, UBI Banca, Bancomat Consortium, and Banco Popolare. The daily and monthly coupons offered on the transactions resulted in making Bergamo as a cashless city by adopting electronic payments.
Frequently Asked Questions
Italy is experiencing a shift from cash towards digital payments, with cards and mobile wallets gaining popularity. While cash is still widely used, especially for small transactions, there's a growing preference for electronic payment methods, particularly among younger consumers.
Debit cards are the most popular type of card payment in Italy. They dominate the market and are widely used for daily transactions
Mobile payments are gaining traction in Italy, particularly among younger consumers. Apps like Satispay and bank-specific mobile payment solutions are becoming more popular for both online and in-store purchases
The market is expected to continue its shift towards digital payments, with further growth in contactless transactions, mobile payments, and alternative payment methods like Buy Now Pay Later (BNPL). The role of cash is likely to continue decreasing, especially for larger transactions
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