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

ICICI Prudential Innovation Fund performance review analysis for December

-
Image
ICICI Prudential Innovation Fund performance review analysis for December ICICI Prudential Innovation Fund performance review analysis for December: This detailed review of ICICI Prudential Innovation Fund evaluates its recent performance, comparing it to the Nifty index, and analyzes key metrics such as Sharpe Ratio and sectoral allocation. The fund's strategy, top holdings, and recent portfolio moves are explored to provide insights for existing and potential investors. ICICI Prudential Innovation Fund Direct Growth performance review analysis for December: ICICI Prudential Innovation Fund Direct Growth, managed by the seasoned fund managers Anish Tawakley,Vaibhav Dusad,Sharmila D’mello, remains a prominent player in the Equity - Other. ICICI Prudential Innovation Fund boasts an impressive AUM of  ₹ 6322.82 crore. Under the guidance of Anish Tawakley,Vaibhav Dusad,Sharmila D’mello, the fund adheres to its objective of the Scheme is an open ended thematic fund. The objective o...
Read more

UK businesses lose £44bn revenue in five years over cyber incidents

-
Image
  UK businesses lose £44bn revenue in five years over cyber incidents  Despite the financial impact of cyber threats, UK companies continue to lag behind in adopting basic cybersecurity measures.   new research from Howden reveals UK businesses are being increasingly targeted by cyberattacks, with 52% reporting at least one incident in the past five years.  This has resulted in an estimated loss of approximately £44bn ($45.9bn) in revenue.  Larger businesses with annual revenues exceeding £100m are frequently targeted, with 74% having experienced a cyberattack within the time frame.   Small and medium-sized enterprises (SMEs) are not immune, with 49% of those with revenues between £2m and £50m also reporting attacks.   The most prevalent types of cyber incidents involved compromised emails and data theft, costing businesses an average of £2.1m and £2m, respectively.  Despite the financial impact of cyber threats, UK companies contin...
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