Innovative Payments

The Innovative Payments Observatory studies and analyzes all payment methods and related opportunities: from <smartphone and wearable payments to payments made through connected objects and voice assistants, to biometric payments and Central Bank Digital Currencies (CBDC).

2022 confirmed the strong growth of digital payments in Italy registered in 2021: consumers have become increasingly accustomed to digital payments with cards and smartphones. While the latter remains the primary driver for the growth of digital payments, new important and promising situations that will enhance payment experiences for consumers.

Innovative Payments Observatory Research

As part of the annual edition, the Innovative Payments Observatory will focus on the following areas of Research:

• Market and Context Analysis to understand the development of innovative payments in Italy and Worldwide and context elements that influence it:
  • Quantify transacted value: the quantification of transacted digital payments in Italy in 2023, focusing on Mobile Payment & Commerce of goods and services, and Innovative Payments;
  • Startups and innovative trends: monitor major funded startups at international level and identify most relevant trends;
  • Legislation, Technology, Security, and Privacy: monitor evolution and news of the Security and Technology regulatory legislation that could impact Innovative Payments (Mobile Payments, Digital Wallets and others);
  • Application Scenario in Italy and worldwide: monitor main new introductions in the payment sector at national and international level through a weekly Press review sent to all Observatory Partners and Sponsors; monitor Mobile Payment services as well as other Innovative Payment services active in Italy in 2023; analysis and monitoring of deferred payment solutions or «Buy Now, Pay Later» in Italy and the world.
• Analysis of Innovation Directions to understand new payment trends and the technological developments that influence it:
  • Digital Wallet: analysis and comparison of Digital Wallets in Italy and internationally, aiming to identify the most relevant trends and most adopted features;
  • Buy Now Pay Later: monitor installment payment services active in Italy and quantify transacted value in Italy in 2023;
  • Instant Payment and new payment modes: monitor new payment modes (Sepa, Request-to-Pay, SCT Inst, ...) and Instant Payment solutions active in Italy and abroad;
  • Smart Device Payments: monitor payment services also integrated with wearables and Iot Payment related evolutions (through cars, household appliances, ...);
  • POS, Cash Register, and smart checkout: analysis and study of value added services and opportunities related to Smart POS, Soft POS, and advanced cash systems; monitor new technologies regarding the most innovative checkout systems at international level;
  • Digital Currencies, Blockchain and stablecoin: monitor cryptocurrency developments, in particular of Central Bank Currencies; monitor the evolution and the application areas of Blockchain technology within innovative payments;
  • Open API: monitor new PSD2 enabled players, active services, and the actual use of Open APIs in Italy and at international level;
  • Technology trends that affect the world of payments: monitor the evolution of some innovative technologies and their impact on payments with particular focus on IoT and 5G, authentication solutions (Digital Identity, SCA, etc.), Metaverse, Quantum Computing, Artificial Intelligence, and Machine Learning.
• Analysis of the Demand to understand the needs and points of view of the «recipients» who can establish the spread of Innovative Payment:
  • Focus on Consumers: survey on payment behaviors of Italian consumers and their point of view regarding Innovative Payments solutions;
  • Focus on Merchants and the Public Sector: understanding the point of view of merchants regarding innovative payment solutions through an active debate and comparison with potentially interested merchants, and surveys; understanding the opportunities available to Public Sector bodies related to the implementation of innovative payment solutions; analysis of costs for merchants of accepting traditional and digital payments.