Value of Mobile Proximity Payment transactions in Italy 2018-2021
This statistic displays total value of Mobile Proximity Payment (MPP) transactions in Italy from 2018 to 2021. According to the data, the total value MPP transactions increased dramatically over the period considered, growing from 500 million euros in 2018 to seven billion euros in 2021. A closer look at MPPs’ annual growth rate over the previous years shows that their value already grew by 980 percent in 2017 and 650 percent in 2018.
When asked if they would prefer a cashless society, only 23 percent of Italians answered affirmatively whereas 47 percent said that they prefer living in a society with cash. Especially older generations are still tied to this medium and cannot imagine going around without banknotes in their pockets. There might be many reasons that explain this attitude. Some people fear that by tracing their payments banks, or authorities in general, might have too much control over them. Another, more practical, reason is that, even though the number of POS terminals in the country grew more than twofold since 2009, many businesses still do not have one, and, even when they do, they only accept cashless payments starting from a certain amount.
Mobile Proximity Payments
Mobile Proximity Payments are payments in which the payer and the payee are in the same location and where the transaction is carried on with two devices through a proximity technology such as Near Field Communication (NFC) and Quick Response (QR) codes, just to name two. Mobile contactless payments belong to the mobile proximity payments category. The payment instrument behind these transactions may be a card or credit transfer.Italy: not a cashless society
When asked if they would prefer a cashless society, only 23 percent of Italians answered affirmatively whereas 47 percent said that they prefer living in a society with cash. Especially older generations are still tied to this medium and cannot imagine going around without banknotes in their pockets. There might be many reasons that explain this attitude. Some people fear that by tracing their payments banks, or authorities in general, might have too much control over them. Another, more practical, reason is that, even though the number of POS terminals in the country grew more than twofold since 2009, many businesses still do not have one, and, even when they do, they only accept cashless payments starting from a certain amount.
