Italy is a nation rich in history and culture. It is gradually embracing the digital wave. This wave is sweeping across the payment landscapes worldwide. As we step into 2023, changes are evident. The Italian payment ecosystem is evolving. It now blends traditional and modern elements. There is a gentle push from the government. They are promoting cashless transactions. This post offers a glimpse into this evolution. It highlights evolving payment methods. It spotlights both local and global actors. These actors are shaping Italy’s retail and e-commerce sectors.

Italy has a population of over 60 million. This populace is witnessing a steady growth in e-commerce. This growth is propelled by various factors. A blend of local innovations and global payment solutions is driving this growth. In 2023, a change has occurred in online purchases. Credit cards have emerged as the most common payment medium in the country​1​.


Payment by card in Italy

In 2023, card payments dominate the e-commerce scene, capturing 40% of online transactions​1​. Debit cards lead, overshadowing credit cards, which only represent 20% of card transactions​1​. A significant 35% of Italians favor credit cards, mirroring the outlined trend​2​. While cards reign supreme, covering over 33% of transactions, e-wallets trail closely with 32%, albeit with lower transaction values​3​. This data underscores the ingrained card payment culture, pivotal in the Italian e-commerce market.

Italy’s card landscape showcases a variety of cards – Bancomat, Visa, Mastercard, and Maestro being prevalent​1​. Notably, Visa and Mastercard stand out, carving a significant niche in the Italian e-commerce sphere​4​. These international networks, coupled with local schemes like Nexi and PostePay, enrich the card payment infrastructure. Their widespread acceptance fuels a seamless online shopping experience. Through a blend of local and international card schemes, Italy’s e-commerce sector thrives, reflecting a mature and diverse card payment ecosystem.

Local actors : Postepay, Nexi

Postepay logo  Nexi logo


Payment by cash payments

In 2023, Italy’s e-commerce realm witnesses a nuanced blend of payment methods, with cash holding a significant spot. Despite governmental measures boosting cash usage by raising the payment ceiling to €5,000, digital payments surge, reaching a total of 206 billion euros in the first half of 2023​1​​2​. Cash, however, remains a popular choice, ranking alongside card payments and digital wallets among the top payment methods in the online retail sector​3​.

Cash on Delivery (COD), a cash payment facet, gains traction among e-shoppers. In 2021, 93% of regular e-shoppers found COD important, highlighting a persistent preference for this payment mode, despite the digital payment uptick​4​. Mooney, a local fintech, capitalizes on this trend, offering a proximity banking and payments solution. Born from a collaboration between Banca 5 and SisalPay, Mooney introduces a phygital model, merging physical and digital assets to facilitate payments​5​​6​.

Enel SpA and Intesa Sanpaolo SpA, significant Italian entities, bolster Mooney’s market position by acquiring a joint 50% stake, envisioning a European-based fintech group​7​. Mooney’s extensive service range, from prepaid cards to bill payments, caters to diverse consumer needs, embodying a modern response to Italy’s evolving e-commerce payment landscape​8​​9​.

Moreover, Mooney’s vast network of over 45,000 points of sale, integrated with digital ecosystems, presents a unique payment solution. This network facilitates basic financial services and payments, illustrating a modern response to traditional cash-based transactions​10​.

Local actor: Mooney

Mooney logo


Payment by bank transfer

In 2023, Italy’s e-commerce sector exhibits a dynamic payment ecosystem. Bank transfers and instant payments significantly contribute to this dynamism. Bank transfers, facilitated by local providers such as MyBank, Trustly, and SEPA, constitute a popular payment method​1​. In 2019, they accounted for 12% of online payments, with projections indicating a rise to 18% by 2023​1​.

On the other hand, instant payments present a fast, efficient alternative. They reflect a broader European trend of embracing rapid transactions​2​. Notably, Intesa Sanpaolo, a pioneering bank, reported a substantial adoption rate among its clientele​3​. These instant payments represent a modern shift from traditional transfer methods.

Furthermore, mobile wallets like Satispay enhance the instant payment experience in Italy. Satispay, gaining traction not only in Italy but across Europe, allows over 1.5 million users to make quick online and in-store payments​1​.

Local actor: BancomatPay, MyBank, Satispay

Bancomat logo  Mybank logo  Satispay logo


Payment by installment and BNPL

In 2023, Italy’s e-commerce sector experiences a rising tide of Buy Now Pay Later (BNPL) payment methods. Scalapay, a local pioneer, emerges as Italy’s first fintech unicorn, illustrating the robust momentum of BNPL in the region​1​. They offer customers the flexibility to spread payments over 3 or 4 installments, interest-free, showcasing innovative payment solutions​2​. Another local player, Splittypay, headquartered in Milan, extends a similar 3-installments interest-free payment option, reflecting the growing appeal of BNPL​3​. Moreover, Scalapay’s acquisition of Italian payment institution Cabel IP in 2023 underscores the company’s ambitious growth trajectory in the BNPL market​4​.

The evolving consumer preferences veer towards BNPL, driving a shift from traditional payment methods like cash and credit cards to more flexible, digital alternatives​5​. Market projections for 2023 hint at a 22% rise in BNPL transactions, reflecting a burgeoning market​6​. The fashion sector particularly sees a notable share of BNPL transactions, indicating a sector-specific adoption trend​7​.

Local actor:

for B2C, Soisy, Agos, Holipay, Scalapay

Soisy logo  Agos logo  Holipay logo  Scalapay with white bg with color bg

for B2B, Splittypay

SplittyPay logo


Payment by digital wallet and X-Pay

In 2023, the e-commerce sector in Italy witnesses a pronounced shift towards digital wallet (e-wallet) payments. Transactions via e-wallets in 2022 soared to €16.3 billion, a 122% leap from 2021, portraying a strong momentum into 2023​1​. Notably, digital wallets claim about 38% of online purchases, with PayPal, a non-local player, dominating 91% of this market share​2​.

Furthermore, consumer adoption rises. Around one in five consumers utilized a digital wallet for recent physical purchases in Q3 2022, a trend mirroring in e-commerce too​3​. This behavioral shift enriches the e-commerce experience, offering a glimpse into the evolving payment landscape.

Moreover, the total transaction value in the Digital Payments market is projected to hit US$118.00 billion in 2023, marking a significant market size with room for growth​4​. Among the main payment methods for online purchases, digital wallets emerge prominently, echoing a sustained preference among Italian consumers​5​.

Nonetheless, the focus on local payment methods remains scant. The dominance of international players like PayPal overshadows the presence of local e-wallet providers. This scenario hints at a competitive market, yet with potential space for local players to thrive and contribute to Italy’s e-commerce ecosystem.

Local actors: Satispay

Satispay logo



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