Italy Cards and Payments Market Demand Forecast to 2022

The financial crisis of the world and debt cautiousness among the customers are promoting the growth of prepaid cards market during the forecast period (2018-2022). Prepaid cards restrict the customers towards unnecessary spending and control their expenses. The debit card is the leading segment of the payment cards market as per the number of cards in circulation and transactional volumes. However, Credit cards and Charge cards are expected to decline in terms of transaction value and volume in the forecast period.

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The increasing preferences of customers to control their spending limit and awareness about the advantages of prepaid card payments has made Italy one of the leading prepaid card markets of Europe. The mandatory e-payments for amounts greater than EUR 1,000 (USD1,390) by Italian government is encouraging the use of prepaid cards. Prepaid cards are expected to record highest growth volume in terms of issuance and transactions in the years ahead.

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Global economic crisis had a major negative impact on the credit card market of Italy resulting in the declined customer trust and cost cutting by the companies.

The implementation of MasterPass, a digital payments platform by MasterCard in 2014 has promoted the e-commerce and m-commerce market by increasing the speed and security of online transactions. Customers can avoid the lengthy process of entering their purchase details every time by using the MasterPass which saves the customer’s financial and shipping information during login using their registered credit or debit or prepaid cards. Any device with internet connectivity can be used to access the application and was first offered to customers of Italy by Banca Sella. Other banks like BNL, Banca Generali, Findomestic, Intesa Sanpaolo and BPM are also offering the services of MasterPass in the country.

Some of the dominating players in Australia Cards and Payments Market:

  • BancoPosta
  • Poste Italiane
  • Banca Nazionale del Lavoro
  • Intesa Sanpaolo
  • UniCredit Bankken

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Related Reports from Market Data Forecast:

France Cards And Payments Market: https://www.marketdataforecast.com/market-reports/France-Cards-and-Payments-Market-6851/

 

UK Cards And Payments Market: https://www.marketdataforecast.com/market-reports/UK-Cards-and-Payments-Market-6847/

 

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