IL cash wins Still in Italy. According to the “Report on consumer payment habits in Italy: evidence from the 2022 ECB survey” published today by Bank of ItalyIndeed, even if cash payments represent an increasingly small portion 69% of total payment (compared to 86% in 2016 and 82% in 2019) 26% card transactions (13% in 2016 and 16% in 2019) and about 4% with other tools (1% in 2016 and 2% in 2019) of which 2% with mobile apps (negligible in previous surveys). The report said that in cross-country comparison, Italy still remains one of the most cash-dependent countries in the euro zone.
Preferred Card for Large Amounts
According to price Transactional, alternative payment Cash increased, reached 51% (32% in 2016; 42% in 2019) of total purchases at points of sale and narrowing the gap with the euro area. However, cash still remains the instrument Popular for low value purchases (up to 50 euros), although with different nuances as it represents 76% (89% in 2016 and 2019) of transactions up to 30 euros and 54% (63% in 2016 and 61% in 2019) of payments between 30 and 50 euros . cash It is no longer a major deviceInstead you are involved in shopping between 50 and 100 euros, this category represents 45% of all payments (51% in 2016 and 54% in 2019). In contrast, cards remain the most used tool in high-value purchases: they are used in 53% of purchases over 100 euros (42% in 2016 and 45% in 2019). In any case, in the euro area, the use of cash at points of sale is lower in all price ranges than in Italy.
A quarter of shops accept only cash
However, it has been revealed in the report that Improving acceptance of cashless devices At points of sale: According to euro area data, cash is the only means accepted in only 26% of transactions settled in cash (in 2019 it was 40%). meanwhile The share of online payments has increased significantly over time, reaching 16% of total non-recurring payments (6% in 2019) and confirms the trend seen across the euro area. Finally, regarding person-to-person transactionsin payment Cash remained stable at 85% In contrast to the euro area, where the use of cash has declined especially in favor of mobile payments, total P2P payments (it was 86% in 2019). In Italy, as in other euro area countries, direct debit is the most commonly used instrument for recurring payments, while cash is rarely used.
However, if they have the choice, Italians opt for paper
However, based on data collected by the Bank of Italy, cash is still the most commonly used instrument Consumers confirm with their strength preference for payment devices cashless If they are free to choose how to pay without any hassles in the store. Italy is really one of the strongest countries cashless preferred In the Eurozone: The main perceived advantages of using cards are convenience (it is not necessary to carry cash with you), as well as the security and speed of such transactions. The advantages of cash, however, relate to better control over the amount spent and the perception of greater acceptance by merchants. Anonymity and privacy protections are considered less important in Italy than in the euro area. 77% of respondents get it Withdraw cash from ATM network, As against 11% from its reserves and 7% in bank or post office, In 2019, 93% of Italian interviewees are satisfied with the conditions of access to cash: Italy is actually one of the euro area countries with the lowest rate of people describing access to cash as difficult.