Half of the Italians ready to abandon cash. These are the data of the 11th Report on Trends in Payment Means of Minsait Paymentswhich shows how our country prefers card and contacless payments (even with smartphones).
Minsait Payments, contacless and online payments on the rise: ready to abandon cash?
According to the data of the 11th Report on Trends in Payment Means, the 54.2% of bank customers in Italy do not want to have cash in their pockets. But there are still too many restrictions to make the move final. In fact, our country is, together with Spain, the one with the most restrictions for alternative payments.
In fact, 13% say they had to pay with cash for the motorway, 12.8% at petrol stations. The percentages for public transport are also high (27%) and for fines, taxes and duties (12.8%).
Adriano Gerardelli, head of the financial services market of Minsait in Italy, explains: “We are experiencing a moment of transformation in the purchasing habits and means of payment used by the” banked “Italian population, which is gradually abandoning cash and adopting new digital systems and diversified. Banks are still the main payment managers, even if new operators, fintechs and neobanks are starting to take important positions in the sector, which are destined to increase with the growth of citizens’ trust and willingness to share data ”.
Debit, credit and prepaid cards are the preferred alternative to cash (53%). My he 19,3% still prefers cash. The number of ‘Wallets’ for i is also growing contactless paymentswith 10,1% respondents who prefer them. The number of app users to settle accounts between friends and acquaintances also increases: 21.5% use it. But we are still well below the European average (in Spain it is 57%).
Online payments are also growing rapidly, with the 66.1% of Italians interviewed said they shop online at least once a month. Even with some certainty. In fact, 71.8% of the Italians interviewed said they use two-factor authentication for online purchases.
Find more information on the official Minsait website.