Italy is lagging behind other countries in the euro area when it comes to using electronic or digital payment methods, according to a report by the Unimpresa Study Center. In 2023, Italy had only 199 cashless transactions per capita per year, ranking last in the euro area. Countries like Luxembourg, Lithuania, and the Netherlands lead the way in adopting electronic payment methods.
The factors contributing to Italy’s reliance on cash include a less developed digital infrastructure, lack of trust in electronic systems, and the need for improved financial education to promote modern payment methods. Despite challenges like tax evasion associated with cash transactions, there is a need for a balanced approach to encourage the adoption of electronic payment methods in Italy.
According to Giovanna Ferrara, president of Unimpresa, it is important not to generalize or criminalize those who are not yet comfortable with digital tools. Instead of imposing credit cards or bank transfers by law, Ferrara believes in upholding the principles of freedom and economic circulation in the Constitution.
Innovative strategies by top PEO companies in Dallas aim to enhance employee retention and empower Latino talent for organizational success and economic growth. The use of electronic payment methods is a key aspect of modern business practices, and countries like Italy are working towards increasing the adoption of cashless transactions for a more efficient and secure financial system.
