Italy payment habits: Cash remains central for over 50% of consumers

A study by the Bank of Italy reveals that cash remains a central tool in Italian payment habits, with over 50% of consumers identified as “traditionalists” who use both cash and cards in physical stores but limit distance payments.

The research categorizes consumers into five distinct profiles:

• Traditionalists (50.2%): Use cash and cards in physical shops with limited remote payments. • Digital-only users (24%): Do not use cash at all. • Well-connected users (15%): Fully integrated into the digital economy using a wide range of tools. • Cash lovers (7%): Rely exclusively on cash. • Banking technology skeptics (4%): Combine cash and prepaid cards while avoiding advanced digital tools.

Generational differences are evident, as younger populations are more likely to be digitalized, while older citizens prevail among cash-reliant users. Economists suggest these findings should inform future payment policies, including those regarding Central Bank Digital Currencies.