A few days from the date announced for the start of the reimbursements provided for by the cashback, the card and digital payments sector is preparing for new revolutions to implement the Government’s cashless plan. Bancomat Spa has announced an important news concerning the PagoBancomat circuit starting from January 1, 2021 and at least until December 31, 2023. In this period of time the transactions made to pay amounts up to 5 euro they will not have commissions paid by banks.
The initiative will allow the spread of card payments also for small purchases and expenses, so far rejected by most merchants and become a true taboo for the customers.
PagoBancomat, stop on commissions under 5 euros: the reasons
PagoBancomat is used by over 35 million Italians and 2 million merchants. This new facility, which can be extended over two years initially envisaged, in line with the piano cashless, will allow the widespread diffusion of the Pos. Once the intercession and banking commissions have been eliminated, card payments will finally be accepted even for small daily operations.
I micropagamenti, ie movements up to 5 euros, today represent only 2.3% of transactions. The goal of Bancomat Spa is to involve the 7 million Italians who do not use them in card payments, and at the same time to encourage merchants to enter the PagoBancomat circuit and allow digital and cashless transactions.
Bancomat Spa’s goal: “Other initiatives for cashless payments”
“Representing three quarters of the debit card market in Italy, Bancomat Spa plays a central role in the challenge promoted by the Government which sees us involved at the forefront with both PagoBancomat and Bancomat Pay. The cancellation of commissions for banks for micropayments up to 5 euros for PagoBancomat transactions is in line with our support program for relaunch of the country, to which additional incentive initiatives will be added to no cash payments”Declared Alessandro Zollo, CEO of Bancomat Spa.
Bancomat Spa manages the withdrawal and payment circuits identified by the Bancomat, PagoBancomat and Bancomat Pay brands, and is the market leader in card payments of debt in Italy. Are approximately 2.5 billion the payment and withdrawal operations carried out every year in our country managed by the company, with 34 millions of cards in circulation, for a value of over 252 billion of Euro.
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