Digital payments in Italy seen matching cash payments in 2023: study

-

 digital payment upi

Getty Images
Representative imapayments in Italy totalled 206 billion euros ($216 billion) in the first half and are seen reaching 440 billion by the end of the year, nearly matching the value of cash transactions, a report showed on Friday.Elevate Your Tech Prowess with High-Value Skill Courses
However, at 13% year-on-year in the first half, it remained above an average 10.5% rate recorded between 2016 and 2019.

With less than half of its ageing population possessing basic digital skills, Italy still has "untapped digital potential", according to a previous European Union report, making it an attractive market for electronic payments.

The number of digital transactions rose by 17.6% year-on-year between January and June, reaching 4.5 billion with an average size of 45.7 euros each, the Politecnico University School of Management data showed.

In terms of value, contactless card payments topped 100 billion euros in the first half, the report said.

Driving growth are transactions in shops completed via smartphones and wearable devices which soared 97% year-on-year.

Also on Friday, Italy's payments firm Nexi, Europe's biggest by volumes, said smartphone and smartwatch transactions jumped 123% year-on-year.

Nexi also reported a 47% growth in electronic wallet transactions.

Comments

Post a Comment

Popular posts from this blog

Standing down from Falcon 9’s launch of Ax-4: SpaceX

-
Image
Originally scheduled for the launch on Tuesday (June 10, 2025), the mission was postponed to Wednesday due to weather conditions                                        This handout image released courtesy of SpaceX and taken on September 11, 2024 shows Ax-4 crew members (L/R) Tibor Kapu, Shubhanshu Shukla, Peggy Whitson and Slawosz Uznanski posing inside the SpaceX Dragon spacecraft at an undisclosed location. Photo: SpaceX via AFP SpaceX has said that it is standing down from Falcon 9’s launch of Axiom Space Ax-4 mission which will carry Indian astronaut Group Captain Shubhanshu Shukla’s to the International Space Station. “SpaceX is standing down from Falcon 9’s launch of Axiom Space’s Axiom Mission 4 (Ax-4) to the International Space Station from Launch Complex 39A (LC-39A) at NASA’s Kennedy Space Center in Florida on Wednesday, June 11, to allow additional time for SpaceX teams to re...
Read more

‘London is back:’ Mayor — and Trump critic — Sadiq Khan looks to lure businesses from the U.S.

-
Image
“ London is back,” the capital’s Mayor Sadiq Khan told CNBC on Wednesday , laying out his ambition to attract investors, visitors and students who are looking for an alternative to the U.S amid an uncertain Trump 2.0 era.                            “At a time of growing international instability, at a time when there are, let’s be frank, choppy political waters in the U.S., we’re that rare thing — somewhere that’s stable, that’s open, that’s diverse. A brilliant environment for innovation, creativity and business,” the mayor of London told CNBC’s Tania Bryer. U.S. President Donald Trump’s often mercurial position on trade, immigration and visa policies have rattled markets as well as businesses, tourists and students looking to make the U.S. their base. Khan said the U.K. was seeing an increase in interest from American businesses and individuals looking to avoid more uncertain economic times and societal changes at h...
Read more

Musk Says Tesla Robotaxi Launch Tentatively Planned for June 22

-
Image
increase; green up pointing tria  CEO  Elon Musk  expects the company to launch its long-anticipated robotaxi service tentatively on June 22 in Austin, though he said that the date could shift because Tesla is being “super paranoid about safety.”   In a flurry of posts on X late Tuesday, Musk hyped up the launch as a vital step toward Tesla’s autonomous future. The first use of Tesla’s robotaxis will start with 10 to 20 Model Ys driving on public roads without a human behind the wheel, before expanding the size of the service based on how well the technology performs, Musk has said. Event Title: International Conference on Strategic Management and Business Strategy Website Link Nominate here Registration link: Social Media Link Facebook Twitter Pinterest Blog Youtube Instagram
Read more