Report on the Payment Attitudes of Consumers in Italy: Results from ECB Surveys

Abstract

This report describes the use of cash and other payment instruments in Italy using the survey data from the Study on the Payment Attitudes of Consumers in the Euro area (SPACE), conducted by the European Central Bank in 2019. The study also exploits recent data from a survey conducted in July 2020 to measure the impact of the pandemic on payments (IMPACT). The data show that cash remains the most used instrument at physical points of sale (POS), although its use has declined over time. The COVID-19 pandemic has further strengthened this trend. The role of cash is limited in other transactions, such as remote and bill payments; payment cards are the principal cashless instrument. Cash is used more in the Centre and South of the country, by women, young people and those with lower incomes; the self-employed, students and the unemployed also tend to make more intensive use of cash. By contrast, people with higher levels of education, people with medium-high incomes, office workers and retirees make greater use of alternative payment instruments.

Keywords: payment instruments, cash, payment habits, consumers’ payment behaviour

JEL Classification: E41, D12, D14