Payments in Italy 2017: What Consumers Want
"Payments in Italy 2017: What Consumers Want", report examines the consumer payments market in Italy, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.
Despite being the fourth-largest economy in Europe in terms of nominal GDP, Italians have remained slow adopters of electronic payments, primarily due to a strong inclination towards cash transactions. Cash accounts for 81% of payment transaction volume. The country has a comparatively low penetration of payment cards, although it has a robust POS terminal network. The governments push for electronic payments through a cap on cash transactions and the implementation of interchange fee regulation resulted in a gradual increase in payment card transaction volume during the review period. Debit cards are the most used payment card at the POS, followed by charge cards. Italian consumers favor charge cards over credit cards due to their debt-averse nature.
It provides in-depth analysis of the following -
- Analyzes consumer attitudes to financial services by lifestage.
- Analyzes the major payment card types in terms of both card holding and usage.
- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.
- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Italy are deploying these tools to meet customer needs.
- Explores the online payment market in Italy by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.
- The No Cash Day project was launched in 2011 to promote the use of e-payments. The government-sponsored project was designed to raise awareness of the negative aspects of cash transactions and to promote the benefits of electronic payments.
- Most of the debit cards issued in Italy bear Bancomat branding. They are usually badged with one of the major international schemes to allow the cards to be used in other countries.
- Mastercard launched the Priceless Milan campaign, which provides Mastercard credit card holders with privileged access to Priceless Milano - the first cashless restaurant in Italy, where payments can only be made via credit card.
Reasons to buy
- Understand the key facts and figures in the consumer payments market in Italy.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.
- Discover consumer sentiments towards various payment tools in the Italian market and use this knowledge to inform product design.
Table of Contents
Payments Infrastructure & Regulation
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