Dublin, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The "Italy Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
The 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 (2016-20e).
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 (2020e-24f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The 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 details of regulatory policy and recent changes in the regulatory structure.
This 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.
E-commerce 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.
The Italian government and the central bank are keen to promote electronic payments. In October 2019, the government developed the Progetto Italia Cashless plan, which aims to promote digital payments and eliminate the use of cash. Various measures are being taken as part of this plan; these include incentivizing consumers via cashback bonuses for payments made using cards from December 2020 and lowering the limit on cash payments from July 2020. Meanwhile, to promote merchant acceptance the plan provides tax credit of 30% for merchants that favour card payments while penalizing merchants that do not allow POS payments.
To increase card acceptance among small merchants, in August 2020, Nexi (the leading acquirer in the country) collaborated with its partner banks to launch the Micropayments refund initiative. Through this initiative, small merchants are entitled to a refund on merchant fees for transactions of up to €10 ($11.23) until December 2021. This is applicable to payments made at physical and virtual POS terminals using Visa, Mastercard, and Bancomat payment cards.
To capitalize on the growing use of contactless cards and to enhance the convenience of making payments, in July 2020, Visa and Mastercard partnered with Turin's public transport system to enable consumers to make payments for rides on the subway and buses using contactless debit, credit, and prepaid cards from these international schemes. The convenience of this payment method is likely to accelerate the growth of contactless payments in the country.
Key Topics Covered:
Buy Now Pay Later
Mobile Proximity Payments
Payment Infrastructure & Regulations
Intesa Sanpaolo Bank
For more information about this report visit https://www.researchandmarkets.com/r/9dnsmi
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