Government initiatives drive growth of prepaid cards / Public transport providers introduce contactless ticketing service

DUBLIN, May 13, 2022 /PRNewswire/ — The report “Italy Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend” has been added to from ResearchAndMarkets.com offer.

The prepaid card market (in value) in Italy increased at a CAGR of 9.5% over the period 2017-2021. During the forecast period of 2022 to 2026, the market is expected to register a CAGR of 11.4%, growing from US$60.63 billion in 2022 to reach US$93.49 billion by 2026.

This report provides a detailed, data-centric analysis of prepaid payment instruments, covering spending via prepaid cards and digital wallets in retail and corporate segments. Additionally, it provides a snapshot of consumer behavior and retail spending dynamics in Italy. With over 100 country-level KPIs, this report provides a comprehensive understanding of the Prepaid Cards and Digital Wallet Cards market dynamics.

Italy is about to see a boom with increased use of digital wallets and prepaid cards. With the onset of the pandemic, consumers shifted to digital payment methods, prompting the country to adopt more of these payment methods.

Additionally, to support Italian citizens and businesses during the pandemic, multi-currency digital wallet provider Skrill has offered its wallet and quick payment solution free of charge for two months until December 2020. Hence, these factors have contributed to the higher adoption of prepaid instruments in the country.

Fintech companies are partnering with football clubs Italy launch prepaid cards for football fans

Various fintech companies are developing innovative products in partnership with football clubs targeting football fans, thereby increasing their customer base. For example,

• In December 2021A Rome-based Italian professional football club, AS Roma, has teamed up with a British fintech company, REPX, to launch an innovative new prepaid card for Giallorossi fans.

• The Giallorossi prepaid card is specially designed for fans to interact with their favorite team. In addition, Giallorossi fans can access exclusive offers and be informed about merchandising, ticket purchases, also to obtain invitations to exclusive events.

• Users of the prepaid card will also have the advantage of transferring money instantly between supporters without any fees.

The story continues

Public transport operators are introducing a contactless ticketing service for passengers from Italy

Digital wallets and contactless payment methods have received immense popularity among consumers of Italy. Moreover, the government is taking various initiatives amid the pandemic to digitize the fare payment methods in the country.

• In August 2021public transport companies Italysuch as bus and funicular operator Azienda Trasporti Bergamo (ATB) and tram operator Tramvie Elettriche Bergasmasche (TEB), have introduced account-based ticketing services on all their vehicles, as well as contactless validators on their networks in the city of Bergamo, in northern Italy.

• Passengers will be able to make contactless payments for their fares using their credit or debit card or from the digital wallet on their NFC-enabled mobile device.

• The contactless ticketing service will support credit and debit card payments from Visa, Mastercard, Maestro and American Express.

• Along with this, digital wallets such as Google Pay, Apple Pay and Samsung Pay can also be used by passengers for payments on their NFC-enabled smartphones and smartwatches.

The publisher expects that, given the changing tastes and preferences of consumers in Italythese contactless payments are expected to see strong appreciation over the next six to eight quarters.

A government initiative that is driving the growth of prepaid cards in Italy

The Italian government has also taken various initiatives to push contactless payments.

• In December 2020the Italian government has announced that consumers of Italy would receive a 10% refund to their bank account for making cashless in-store payments using a credit, debit or prepaid card or payment app. This Italia Cashless initiative continued in 2021 as well.

• Along with this, the consumer and merchants who make the most cashless in-store purchases in six months, a week, a month or a year will be eligible for a Super Cashback contest.

The publisher predicts that these government initiatives have succeeded in injecting contactless payments among consumers, thereby spurring the growth of prepaid cards and digital wallets in the country.

Scope

Featured companies

• Scarf Coop Italia

• CONAD – Consorzio Nazionale Dettaglianti Scrl

• Esselunga Spa

• Selex Gruppo Commerciale SpA

• Auchan Group SA

• Eurospin Group

• Carrefour S.A.

• Crai Secom SpA

• Schwarz Beteiligungs GmbH

• Apple Inc.

• Amazon.com Inc.

Italy Digital Wallet Market Size and Forecast

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

Italy digital wallet market size and forecast by key segments

• Retail purchases (value, volume, average value)

• Trip (value, volume, average value)

• Entertainment and games (value, volume, average value)

• Restaurant (value, volume, average value)

• Recharge and Payment of bills (Value, Volume, Average Value)

Italy Market attractiveness of the prepaid card industry

• Load value trend analysis

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

Market Share Analysis by Functional Attributes – Open Loop vs Closed Loop, 2016 – 2025

Analysis of market shares by categories of prepaid cards

Future growth dynamics of open-loop prepaid cards in Italy, 2016 – 2025

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

Future growth dynamics of closed-loop prepaid cards in Italy, 2016 – 2025

• Transaction value trend analysis

• Trading volume trend analysis

• Average value per transaction

• Number of cards

Usage trends for prepaid cards in Italy

• By age group

• By income group

• By gender

Italy general purpose prepaid card market size and forecast

Italy gift card market size and forecast

Gift Card Market Size and Forecast by Functional Attribute

Gift Card Market Share Analysis by Retail Categories

Gift Card Market Share Analysis by Gifting Occasion

Gift Card Market Share Analysis by Purchase Location

Italy entertainment and gaming prepaid card market size and forecast

Italy Teen and Campus Prepaid Cards Market Size and Forecast

Teen and Campus Prepaid Cards Market Size and Forecast by Functional Attribute

Size and forecast of the prepaid cards market for administrative and commercial expenses in Italy

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Italy payroll prepaid card market size and forecast

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Italy Prepaid Meal Cards Market Size and Forecast

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Italy Forex Prepaid Cards Market Size and Forecast

• By retail

• By Small Scale Business Segment

• By intermediate business segment

• By business sector

• By government segment

Italy prepaid transit and toll card market size and forecast

Italy Prepaid Health and Wellness Cards Market Size and Forecast

Italy Social Security and Other Government Benefit Programs Prepaid Cards Market Size and Forecast

Italy prepaid fuel card market size and forecast

Italy Utilities and Other Prepaid Cards Market Size and Forecast

For more information on this report visit https://www.researchandmarkets.com/r/x3aws4

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