Payments: the future is digital

The increase of digital payments in Italy and Europe is already unstoppable: statistics and research related to the last two years show a trend that draws no setbacks.

Digital payments in Italy and Europe: a constant growth

The 2023 data are still not definitive, but the trend is already clear: digital and alternative payments in Italy are in a clear and constant growth. According to Nexi calculations, the contactless has increased by 40% and remote payments (e-commerce, social commerce, Pay-by-Link) by 20-30%. In 2022 digital payments represented 32% of the total in Italy, 47% in the European Union and even 62% in the United Kingdom (while in 2015, these areas had percentages which were respectively 18%, 41% and 48%).

Taking into consideration estimates of the Innovative Payments Observatory of the Politecnico of Milan, in Italy, the paper transaction will reach a total of 425-440 billion euros by the end of 2023. This represents an increase of 9-12% over 2022. In 2022, always according to data coming from the Observatory, the paper transactions regarding digital payments had almost reached 400 billion euros in Italy, to an equal extent of 40% of the consumption.

POS and digital devices in Retail sector

Analyzing another research by the Politecnico of Milan, has outlined that the number of active POS in Italy will reach a total of 3.1-3.3 million units by 2023. If this figure is confirmed, it would mean an increase of 3-10% from the previous year.

Talking about 2022, there were significant investments in technologies to support the digital sector. Retailers who have invested resources in innovative payment solutions have gone from 12% to 21%, those who have focused on smart cash systems from 11% to 14% and those who have invested on the self check-out systems from 2% to 7%.

CUSTOM Pay: the digital payment system that adapts to every point of sale

To respond to the current trends, Custom Group has launched the newco CUSTOM Pay. Simple and favorable, this innovative service simplifies payment transactions in every business.

The new company, thanks to its advanced system, finally offers retailers a complete product, which includes at the same time hardware, software, taxation and service assistance. An integrated offer ranging from the supplying of the POS to the management of digital payments, with commissions among the most competitive on the market.

Visit our website to discover all CUSTOM Pay's solutions.

Published on 19/12/2023 in Technological Innovations