In 2023, digital payments transactions in Italy reached 444 billion (+12% compared to 2022).
Of total consumption, digital payments account for 40% of the value, an impact slightly lower than that of cash.
This is confirmed by data from the Innovative Payments Observatory of the Polytechnic of Milan.
According to the study, digital payments are increasingly contactless: in 2023, almost 8 out of 10 digital in-store transactions are carried out in 'tap & go' mode with contactless physical cards or with devices equipped with NFC technology, which together reach a transaction value equal to 240 billion.
During 2023, Italians used smartphones or, to a lesser extent, other devices to make approximately one payment for every seven electronic payments in-store, for a total of 29 billion (+78% compared to 2022).
There are 7.6 million Italians who already use their smartphone to pay in stores.
Buy now pay later (Bnpl) is on the rise: in 2023 in our country the transactions with this form of payment reached 4.6 billion, reaching, in its online component, 6.5% penetration of the total national eCommerce market.
Furthermore, 14% of Italians said they had already used it, mainly for online purchases, and only 2% of these would not use it again, adds the Innovative Payments Observatory of the Polytechnic University of Milan.
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