Bank of Italy reports doubling of digital payments since 2018

A report from the Bank of Italy reveals a significant shift in payment habits, with electronic transactions more than doubling since 2018 to exceed 16 billion annually. This growth was accelerated by the pandemic and is primarily driven by card usage, which rose from 63% of non-cash operations in 2018 to approximately 75% in 2025.

Contactless payments have become dominant in retail, accounting for 88% of POS transactions. Additionally, digital wallets and mobile devices now represent 24% of physical transactions. While digital methods are rising, cash remains relevant in the market, though it has seen a contraction in withdrawals, dropping from 1.4 billion in 2018 to just over 1.2 billion in 2025.

Bank transfers have also seen growth, doubling from 970 million to over 1.8 billion between 2018 and 2025. More than 85% of these transfers are now conducted through digital channels such as internet and mobile banking, reducing the reliance on physical bank branches.