Bitcoin Reigns Over Master, Visa Cards in Italian e-Commerce Payments

Bitcoin (BTC) has become the third-most desirable mode of payment online in Italy, as per the latest info from market analysis company SEMRush. In particular, when it comes to online payment, Bitcoin only stands behind PayPal and PostePay, a reloadable prepaid card provider.

The research data also disclosed that Italians utilize Bitcoin for ecommerce payments more often than conventional credit cards such as Mastercard, Visa or American Express.

As per La Stampa, Italians use Bitcoin for over 215,800 times per month while purchasing goods online, while American Express is utilized only 189,000 per month. Notably, Visa, Mastercard and other credit cards are used in only 33,950 web based transactions per month.

With roughly 1.30 million transactions carried out using PayPal, the California-headquartered online payment facility, has virtually no contest when it comes to online payments in Italy. It is followed by PostePay, the Italian payment processor, with nearly 1.20 million monthly transactions.

However, the research has not taken into consideration the number of PayPal and PostePay accounts linked to credit cards. La Stampa also revealed that last year the overall business-to-consumer spending on e-commerce spending was more than €40 billion, with 62% of Italians making a minimum of one online purchase.