Italy will be increasingly cashless also in 2022 with 25% of merchants aiming to further digitize the business in line with the horizons reached in the year just ended. In fact, in 2021 digital transactions increased by 70% and the average receipt became smaller and smaller, reaching thresholds of less than 5 euros. According to an analysis by the SumUp Observatory, introducing new payment technologies (47%), digitizing their business (40%), modifying their product catalog (30%) are in fact the main changes that have brought about Italian exhibitors between 2020 and 2021 to react to restrictions and new consumer habits following the pandemic.
According to the fintech analysts of the digital payments and innovative cashless solutions sector, looking closely at the trend of the digital and cashless revolution in the last year, more than half of Italian merchants stressed that they noticed a change in behavior in the course of 2021 by its customers who, in 53% of cases, were more likely to pay without cash. The cashless numbers also demonstrate this: according to SumUp, in fact, the value of the average cashless transaction of merchants has grown in the last year by 43.6% compared to 2020 and, comparing 2021 with 2019, an increase of 53 is observed. , 3%. The trend is also confirmed by the average number of transactions per merchant: comparing 2021 with 2020, the growth is 69.1%, which rises to 99.3% compared to 2019.
The most important cashless growth during the year, both in terms of the average transaction and the number of transactions, were the merchants linked to the beauty and barber world (+ 46.4% per average transaction compared to 2020 ; + 61.3% in number of transactions compared to 2020), artisans (+ 41.9%; 68.8%) and traders in the Food & Grocery sector (+ 16.8%; 36.3%). These are flanked by doctors, specialists and healthcare professionals who are becoming increasingly digital with + 61.7% growth in cashless turnover and + 64.7% in the number of transactions recorded in 2021 compared to 2020.
Geographically, Cagliari stands out in first place among the cashless provinces of 2021, sharing the podium with another Sardinian, Sassari, and with Naples. By analyzing the most interesting cashless growth in 2021 from the point of view of the average transaction per merchant, SumUp rewards Cremona (+ 80%); Savona follows, with an increase of 65.5%, while Milan is positioned in the top 10 with a growth of 57%. Also from the point of view of the average number of transactions per shopkeeper, Cremona is in first place, with a growth of 107.4%. La Spezia immediately after, with a growth of 95%. In the top 5 there is also Bologna, with a growth of 90.9%. Small payments are also on the rise. According to SumUp’s analysis, digital transactions for small payments are becoming increasingly popular. In particular, transactions of less than 5 euros recorded a significant growth of 67% in 2021 compared to the same period of the previous year. On the other hand, receipts between 6 and 10 euros increased by 22%, while those between 10 and 50 euros decreased by 3%.
Nationally, the average receipt has actually settled at € 43.7, down by 15% compared to 2020 when it was € 51.4. “In the last two years the habits of both merchants and consumers have changed: on both sides, digital payments are increasingly appreciated for reasons related to security and convenience” explains Umberto Zola, Country Growth Lead Italy at SumUp. “The incentives put in place by the government, such as the State Cashback in the first half and the new tax credit now, have certainly given a boost to the digitization of payments,” adds Zola.
“Like SumUp, we have done a lot to support merchants with new tools: this is also demonstrated by the feedback from the same merchants who in 19% of cases admit to having digitized their business with Pos, Online Shop, Payments via Link, and in 25% of cases they underline how our products and services helped them during the pandemic to attract new customers or to maintain relationships with regular ones “continues Zola. “Surely – he finally observes – the role of digital payments will be important in this period of large purchases”. According to the SumUp survey, merchants say they are for the most part optimistic thinking about the holidays: 43% estimate to achieve the same turnover as pre-Covid and 17% even higher. Looking ahead to 2022, more than half of merchants expect their business to grow, while a third expressed concern about new restrictions or measures that could impact sales. However, 25% are planning to further digitize their business, analysts from the SumUp Observatory finally indicate.