Italy is a relatively young ecommerce market – in fact, only 36% of residents have ever shopped online at all. This provides an enticing opportunity for businesses to engage with a brand-new customer base.
To successfully reach Italian customers, it’s crucial to understand their preferred ways to pay. Review our detailed guide to the top five Italian payment methods so you can offer this audience a smooth checkout experience.
5 Top Payment Methods in Italy
While many European countries have embraced alternative payment methods, cash remains the most common payment method in Italy. It's especially popular for purchases of €60 or less.
The European Central Bank estimates that Italian customers use cash for 86% of in-person transactions. Cash on delivery is used to pay for about 7% of online purchases, based on data from JP Morgan.
2. Card Payments
Italy's most popular payment methods for online purchases are debit, credit, and prepaid cards, collectively representing 40% of these transactions. Debit cards are more popular than credit cards, which make up only 20% of the nation's card transactions.
Common cards used in Italy include Bancomat, Visa, Mastercard, and Maestro. However, American Express is also gaining some traction, particularly in tourist-heavy areas. Many Italians also use Postepay and CartaSi, electronic prepaid cards co-branded as either Mastercard or Visa. These generally work wherever Visa or Mastercard are supported.
3. Digital Wallets
Digital wallets have soared in popularity in Italy over the last decade, now accounting for around 38% of online purchases. They'll likely grow even more in popularity over the next few years as the Italian ecommerce market expands.
PayPal is the most common digital wallet in Italy, with a 91% market share. Some people shop online with Italy-exclusive Satispay, but it's more common for peer-to-peer payments.
4. Bank Transfers
Bank transfers comprise about 18% of online payments in Italy, especially among people who don't have or use credit and debit cards. Customers can transfer the funds safely and efficiently to a merchant’s bank account. These can be direct bank transfers or be completed through a third-party like Sofort or MyBank.
5. Buy Now Pay Later
Buy now pay later (BNPL) is an emerging payment method around the world, including in Italy.. While it currently sits at less than 7% of the market share for online payment methods, Research and Markets has estimated that BNPL in Italy will record a compound annual growth rate of 26.8% by 2028.
The Best Way to Accept Global Payments
Pay.com is a reliable platform for accepting global payments, with support for payment methods from all over the world. Our developer-friendly API makes it easy to create custom-coded checkout pages for each international market, so you can cater to their specific payment preferences.
Pay.com is also committed to security, implementing 3D Secure 2.0 multi-factor authentication to protect against fraudulent activity and chargebacks. Tokenization technology shields payment data throughout every transaction so it can't be intercepted and stolen.
Costs for payment services can add up quickly, especially with multiple fees for different types of transactions. Pay.com addresses this concern with our transparent flat-fee payment structure, so it's easy to understand and anticipate your monthly bill.
The Bottom Line
While cash remains a top payment method in Italy, customers are also embracing new ways to pay like digital wallets, debit cards, and bank transfers. Accepting a variety of payment methods allows you to appeal to audience preferences. This can set your business apart and attract potential customers.
Pay.com provides global payment processing for multiple payment methods, including many of Italy's favorite ways to pay. Our simple onboarding process will quickly prepare you to accept payments from Italian shoppers. Every transaction meets the highest security standards of the Payment Card Industry (PCI).