Key alternative payment methods in Italy include BANCOMAT Pay, MyBank and Satispay and have now been added to the end-to-end payments platform, Ecommpay.
E-commerce merchants operating in Italy, both locally and internationally, will now be able to improve conversion performance through more tailored choices in their online propositions. This will be particularly impactful as Ecommpay research has shown that lack of payment choice, and particularly lack of recognised local payment methods, is a key reason for basket abandonment on e-commerce sites.
One solution is its payment choice functionality. Ecommpay has found that this offering increases acceptance rates by 2-3 per cent. Adding recognised Italian payment methods should, therefore, significantly enhance merchant sales performance. The addition of alternative payment methods alongside credit cards also delivers cost savings for merchants.
With 160 languages available to merchants globally, Ecommpay offers Italian e-commerce merchants the facility to display payments pages in the local language based on IP addresses and by reading the main language on their device. The open access ethos of Ecommpay, through a single API, means that merchants can quickly and easily integrate the payment platform without requiring significant developer time.
Meet the new additions
BANCOMAT Pay is Italy’s second most popular payment method, enabling consumers to make online purchases through an app on their mobile phones.
MyBank enables consumers to pay for their online purchases in an easy and safe way using real-time bank transfers.
Satispay is a mobile payment solution that enables direct payments to merchants.
Capitalising on potential
Moshe Winegarten, chief revenue officer at payment service provider, Ecommpay
As Moshe Winegarten, chief revenue officer, Ecommpay explained the Italian e-commerce market has considerable scope for growth. “According to the Ecommerce in Italy 2024 report from Casaleggio Associati, the total e-commerce turnover in Italy is estimated to have been worth 80.55 billion euros in 2023; it is one of the fastest growing e-commerce markets in Western Europe. However, Italy has a relatively complex payments landscape which has made it more challenging for online transactions.
“What e-commerce merchants in Italy and those targeting the lucrative Italian market now need is a payment solution that is easy to integrate and removes friction from the process, as well as delivering fraud protection.
“By adding BANCOMAT Pay, MyBank and Satispay to the Ecommpay platform, we’re not only removing reasons for basket abandonment. We’re also providing merchants with a solution that has a 99.99 per cent fraud prevention record. And our single API means it’s easy to integrate the Ecommpay platform into a merchant site.”
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