Italy Cards and Payments - Opportunities and Risks to 2025

Italy Cards and Payments - Opportunities and Risks to 2025

Summary
‘Italy Cards and Payments: Opportunities and Risks to 2025’ report provides detailed analysis of market trends in the Italian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, direct debits and cheques during the review-period (2017-21e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2021e-25f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

TThe report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

‘Italy Cards and Payments: Opportunities and Risks to 2025’ report provides top-level market analysis, information and insights into the Italian cards and payments industry, including -
- Current and forecast values for each market in the Italian cards and payments industry, including debit, credit, and charge cards
- Detailed insights into payment instruments including cash, cards, credit transfers, direct debits and cheques . It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the Italian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of the Italian cards and payments industry

Scope
- The Italian government and the central bank are promoting electronic payments. In October 2019, the government developed the Progetto Italia Cashless plan, which aims to promote digital payments and reduce the use of cash payments. Various measures are being undertaken as part of this plan. This includes incentivizing consumers via cashback bonuses for payments made using cards between December 2020 and June 2021 and lowering the maximum cash payment from €3,000 ($3,668.43) to €2,000 ($2,445.62) in July 2020. This limit is set to drop to €1,000 ($1,222.81) in January 2022. To promote merchant acceptance, the plan provides tax credits of 30% for merchants that accept card payments.
- To boost digital payments, the government introduced the Receipt Lottery program in February 2021. The program is designed to reward consumers for making purchases using electronic methods of payment. To participate, consumers must register with the program online and link their Italian tax code. Once registered, a lottery code is generated. Consumers are required to provide the lottery code at physical merchants at the time of purchase, after which consumers are entitled to receive one lottery ticket per €1 ($1.22)spent via digital methods of payment such as cards (capped at 1,000 tickets per transaction). The tickets are used for weekly, monthly, and yearly prize draws, with entrants eligible to win cash prizes. As of August 2021, the program had rewarded 1,000 registered users with prizes worth €15.6m ($19.1m) since inception.
- The proliferation of digital-only banks is driving competition in the banking space, thus helping boost debit card holding. German digital-only bank N26 entered Italy in December 2015. The bank increased its customer base from 300,000 in January 2019 to 750,000 in May 2021. In November 2020, the bank launched N26 Smart - a premium account that includes the N26 Smart Mastercard debit card, which offers free international payments. In January 2018, UniCredit introduced Buddybank in Italy. Meanwhile, in June 2020, Banca Mediolanum Group and banking software provider Temenos collaborated to launch Flowe. This digital-only bank focuses on younger segments, offering bank accounts, debit cards, and prepaid cards.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Italian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Italian cards and payments industry.
- Assess the competitive dynamics in the Italian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Italy.
- Gain insights into key regulations governing the Italian cards and payments industry.