Less commissions and pushed to the Pos and Italy became a country no cash – The Republic

INCREASE THE NUMBER OF TRANSACTIONS WITH SMARTPHONES EVEN IF WE ARE AWAY FROM SWEDEN AND ENGLAND HELP PURE ADJUSTING FOR TREASURY OPERATIONS TRACEABLE AGREEMENT BETWEEN IT AND Raphaels BANK

Luigi Oil

the Milan in ability to pay INPS voluntary contributions directly through the portal of the institute. The launch of version 2.0 of Microsoft Wallet, the app dedicated to the management of boarding passes and loyalty, event tickets and coupons. The agreement between Sia and Raphaels Bank to launch new solutions in the field of card and via the mobile services. Only in the last ten days there have been three weight advertisements in the electronic payments segment, demonstrating how this is one of the strands with the highest rate of innovation. Moreover, even Italy, which was started late in the development of non cash payments, is adapting quickly. According to the Observatory Mobile Payment & amp; Commerce conducted by the Politecnico di Milano, in 2015 digital card payments in Italy grew by 5.6%, to increase to nearly 164 billion Euros, with 25 million cards in circulation (the number ten times higher than that of 2006) . A decisive boost (+ 22%) came from the category new digital payment – which includes e-commerce, e-payment, mobile payment, and payments in the vicinity – which now is worth 13% of the transacted with paper. The credit is mainly the increasing awareness about the safety of online shopping. According to the latest data from ABI Lab and postal police, in fact, the possibility of hitting an online thief is very low: only 1.7 million internet banking access each

in 2015 resulted in a loss of money. Even safer appears from mobile access to current account, where there is found to have special cases of fraud associated with specific services through mobile banking. Last year, he says the study, over 97% of online fraud attempts has been discontinued. If for purchases on the Internet are still pockets of cultural resistance, especially among the more senior clientele (inevitably destined to lose consistency over the years), the great familiarity of the Italian with the phone is helping the take-off of purchases via smartphone, which last year amounted to 21 billion euro, with bills increased in the order of 172% compared to 2014 and 6 million in the bus rides and the same number in the car sharing purchased. Yet the space for further growth remains important, especially if you look at the experience already gained across the border: Sweden is set to become within a few years essentially a cashless society (more than 250 electronic payments per year, seven times as Italian) and the United Kingdom already last year electronic transactions exceeded those in cash, with the aim of reaching two-thirds of the total within five years or so. While in Italy currently only one-fifth of the purchases conducted in the harbor for the families takes place in digital and cash management involves costs for 9.5 billion euro, which inevitably are downloaded from the financial system on customers. Not to mention the revenue lost to the tax authorities – about 27 billion Euros each year – resulting from the submerged economy fascia related to the use of cash, as untraceable. In this regard are expected news on the expenditure side of the Pos mandatory for purchases over 30 euro amount. If the bill device will be accompanied by the provision of penalties for violators, Italy can truly bridge the gap with other Western countries. The contactless infrastructure is now ready: the Pos have doubled in the last year (500 thousand at the end of 2015) and cards having increased over the same period from 12 million to 20 million. Moreover, in recent weeks it became fully operational the EU Regulation 2015/751 on interchange fees for payment transactions made with debit and credit cards. The main change is the reduction of the maximum fees on electronic cards payments, thus overcome one of the most critical so far detected by Italian merchants. Technological evolution is in line with the principles established at the European level, with a link to a gradual replacement of banknotes with electronic payments, with traceability used not only for the purpose of evasion contrast, but also of possible money laundering aimed the financing of terrorism. In this direction should read the decision taken in May by the European Central Bank, according to which from 2018 will cease the issuance of new banknotes from the cutting of 500 Euros. Meanwhile the Netherlands, Ireland and Finland have decided to intervene on smaller cuts, with the stop at the minting of coins of 1 and 2 cents. The production of such coins is now in fact more expensive than the face value of the same. In Italy, it began discussing this issue for some time, but at the moment there are no decisions were taken on this. The spread of no cash in our country is also linked to the progress of Pa, which is progressively adopting PagoPA, the payments ecosystem that in late May had about 14 thousand administrations participating in the service, including all regions, more than 90% of schools and over half of the municipalities. Later this year is expected the debut of several ministries and Equitalia, with the integration of payment services sanitary fines and tickets. According to the aforementioned Observatory of Politecnico di Milano, it could get a further boost from the introduction of tax deductions and lotteries related to purchases made with paper. According to experts, these measures would bring an increase in internal digital payments to 20 billion Euros per year, thus bringing Italy to Europe in terms of per capita value of the transacted with paper. Another front followed by some countries on discounts on purchases with electronic payments for consumers, such as in Colombia and Uruguay, where they are provided for VAT reductions. While in South Korea tax deductions you were activated by 20% for expenditure incurred by card. In all these cases, the lower earnings to the state resulting from the benefits were more than offset by the emergence of black and by lower costs for cash handling. The possibility of running into an online thief is very low: only access to internet banking every 1.7 million 164 BILLION In 2015 digital card payments in Italy grew by 5.6%, to increase to nearly 164 billion Euros , with 25 million cards in circulation (the number ten times higher than in 2006). A decisive boost (+ 22%) came from the category new digital payment