Digital payments at 145 billion, + 23% in the first six months of 2021. Polimi: “Cashback effect”

Digital payments in Italy break through 145.6 billion euros in the first half of 2021 alone. An increase of 23% compared to the same period of 2020, characterized however by the strict lockdown measures. By the end of the year, the goal is to exceed 300 billion in transactions. These are the data of the six-monthly edition ofInnovative Payments Observatory of the School of Management of the Politecnico di Milano. Above all, contactless payments have grown, which have seen an increase of + 66% from 31.4 to 52.1 billion euros, while all the components of smartphone payments have doubled (+ 108%) (2.7 billion). .

According to analysts, the effects of the incentives linked to measures such as Cashback and Super Cashback can be seen: in the first half of the year, over 6.1 million Italians reached the threshold of 50 transactions: 12% of the adult population. «The initiative totaled over 750 million transactions, equal to over 24% of card transactions in the semester. And for the state coffers it had a cost of under one billion euros, ”said Valeria Portale, director of the Innovative Payments Observatory.

If digital payments increase, cash withdrawals decrease: transactions fall by 3%, the amount in euros marks -6%. “Compared to the first half of 2019, the decline is even 25% and 20%, respectively for transactions and euros withdrawn. A phenomenon that is also explained by the fact that the Cashback and Super Cashback measures have pushed many Italian citizens to make transactions even for small amounts with the card », underlined Alessandro Perego, Scientific Director of the Digital Innovation Observatories of the Politecnico di Milano.

“The hope is that 2020 may have been an important, almost watershed year,” he added Ivano Asaro, Director of the Innovative Payments Observatory. “At the end of 2021 we will reach over 300 billion euros of digital payments, after a 2020 with almost zero growth, this is a greater increase (between +12.5 and + 16%) even compared to the pre-pandemic one. Mobile payments will continue their run and will grow more than 80% compared to 2020 », he concluded.

Source: RSS Innovazione by

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