In Italy cash is used less and less. Carte, smartphones and instant bank transfers have now entered the daily lives of millions of people and, according to a recent analysis by FABI, digital payments continue to grow at a rapid pace.
Between 2020 and 2024 the value of the transfers increased by 55%, while transactions with electronic cards have almost doubled. A transformation accelerated by the pandemic and new contactless technologies, which made payments faster and more convenient.
But there is also the other side of the coin.
In fact, with the increase in online transactions, digital scams are also growing. According to the FABI study, Over the last three years, cyber criminals have stolen from Italians 559 millions of euros through phishing, Fake SMS, scam calls and online banking fraud.
The problem isn't just limited to tech-savvy people. Today, scams mainly exploit haste and psychological pressure: a message that appears to come from the bank or an apparently reliable telephone number can put anyone in trouble.
This is why digital security is becoming an integral part of financial education. Check account movements, avoiding suspicious links and never sharing bank codes are increasingly necessary attention in a world where money now passes mainly through smartphones and applications.
However, the direction appears clear: Italy will continue to reduce the use of cash. The challenge will be to accompany this evolution with more effective protection tools and greater consumer awareness.
Source: complete FABI study on digital payments
Alex Gaetani
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