Is Nexi Leading the Mobile Payment Revolution in Italy?

Article Highlights
Off On

In 2024, Nexi has become a pivotal player in the rapid expansion of mobile payments in Italy, evidenced by an extraordinary 61% surge in spending volumes via smartphones and smartwatches. This dramatic increase mirrors a broader trend identified by the Innovative Payments Observatory of the School of Management of the Milan Polytechnic, which recorded a 53% bump in mobile payment transactions, amounting to €56.7 billion. As more Italians embrace digital payment solutions that allow the virtualization of cards on devices such as smartphones and wearables, the transactional volumes have reached €44.7 billion, accounting for 94% of total in-store mobile transactions. This shift signifies a monumental change in consumer behavior and highlights the country’s growing reliance on sophisticated payment technologies.

Technological Investments and Strategic Growth

Nexi’s growth and its ability to maintain its leadership position within Italy’s mobile payment landscape have been significantly bolstered by a substantial rise in virtualized cards on major platforms like Apple Pay, Google Pay, and Samsung Pay. In 2024, Nexi experienced a remarkable 36% increase in virtualized card usage, alongside a 68% growth in mobile transactions using Nexi cards in both physical and online stores. Marco Ferrero, the chief regional officer of Nexi Italy, attributes this exceptional expansion to the company’s advanced technological infrastructure, which has been central to pushing forward Italy’s capabilities in digital payments. Looking ahead, Nexi is planning a significant investment of €400 million in technology and skills by 2025, aimed at driving ongoing innovation and sustaining this growth trajectory. These investments are expected to further enhance the company’s competitive edge and bolster its operational capacity.

Sustained Growth and Market Leadership

The impressive patterns observed in 2024 are a continuation of the double-digit growth Nexi witnessed in 2023 and 2022, demonstrating its ability to sustain leadership in Italy’s mobile payments sector. The continued upward trajectory not only underscores the increasing inclination of Italians towards digital payments but also reinforces the critical nature of introducing advanced payment technologies to support the country’s digital transformation initiatives. As consumers increasingly favor the convenience and security offered by mobile payment solutions, Nexi’s strategic investments and technological advancements are likely to solidify its dominance in the European mobile payments market. Moving forward, Nexi’s proactive approach and commitment to innovation will be instrumental in navigating the evolving landscape of digital payments and ensuring that Italy remains at the forefront of this technological revolution.

Explore more

Your CRM Knows More Than Your Buyer Personas

The immense organizational effort poured into developing a new messaging framework often unfolds in a vacuum, completely disconnected from the verbatim customer insights already being collected across multiple internal departments. A marketing team can dedicate an entire quarter to surveys, audits, and strategic workshops, culminating in a set of polished buyer personas. Simultaneously, the customer success team’s internal communication channels

Embedded Finance Transforms SME Banking in Europe

The financial management of a small European business, once a fragmented process of logging into separate banking portals and filling out cumbersome loan applications, is undergoing a quiet but powerful revolution from within the very software used to run daily operations. This integration of financial services directly into non-financial business platforms is no longer a futuristic concept but a widespread

How Does Embedded Finance Reshape Client Wealth?

The financial health of an entrepreneur is often misunderstood, measured not by the promising numbers on a balance sheet but by the agonizingly long days between issuing an invoice and seeing the cash actually arrive in the bank. For countless small- and medium-sized enterprise (SME) owners, this gap represents the most immediate and significant threat to both their business stability

Tech Solves the Achilles Heel of B2B Attribution

A single B2B transaction often begins its life as a winding, intricate journey encompassing hundreds of digital interactions before culminating in a deal, yet for decades, marketing teams have awarded the entire victory to the final click of a mouse. This oversimplification has created a distorted reality where the true drivers of revenue remain invisible, hidden behind a metric that

Is the Modern Frontend Role a Trojan Horse?

The modern frontend developer job posting has quietly become a Trojan horse, smuggling in a full-stack engineer’s responsibilities under a familiar title and a less-than-commensurate salary. What used to be a clearly defined role centered on user interface and client-side logic has expanded at an astonishing pace, absorbing duties that once belonged squarely to backend and DevOps teams. This is