Bitcoin in top 3 online payment methods in Italy
01 Nov 2019
Bitcoin is the third-most preferred online payment method in Italy, according to data from SEMRush marketing analysis company.
As per a report by Italian news publication La Stampa, the Boston-based marketing analysis firm’s findings state Bitcoin came in third as the most used online payment method in Italy, behind Paypal and PostePay.
Furthermore, the data showed that Bitcoin – the world’s largest cryptocurrency by market capitalisation – is more widely used by Italians for online shopping, rather than traditional cards such as Visa, Mastercard or American Express.
Bitcoin is used over 215,800 times every month for online purchases in Italy, reports La Stampa, whilst American Express is used 189,000 times per month. Visa, Mastercard and other credit cards have logged 33,950 online transactions each month.
California-based Paypal is still the top option in Italy for online payments, reports Coin Telegraph, registering around 1.3 million transactions per month.
Italian payment system PostePay comes in second, with approximately 1.2 million monthly online transactions.
The findings by SEMRush did not take into account the number of Paypal and PostePay accounts associated with credit cards.
The La Stampa report added that last year the total e-commerce business-to-customer spending surpassed €40 billion, with 62% of Italians making at least one online shopping purchase in 2018.
These latest findings reinforce the gradual pre-dominancy cryptocurrency is gaining over other traditional payment processors, reports ZY Crypto.
This is a view that was echoed by deVere CEO Nigel Green earlier this week: “Cryptocurrencies, and in particular Bitcoin, are increasingly part of mainstream finance.
“This is evidenced not only in the financial sector, in which all major banks are increasingly looking at blockchain and crypto, but by the growing interest of governments and institutions, plus the major players within the tech and retail sectors too.”