Bitcoin gains popularity in Italy as a payment method for online purchases.
Bitcoin is the third most popular payment method for online purchases, surpassing even Visa, Mastercard and American Express.
Data from the market analysis firm SEMRush show that the cryptocurrency reaches third place behind PayPal and the PostePay prepaid and rechargeable card service.
used more than 215,800 times a month for online purchases in Italy, while American Express is used about 189,000 times a month.
PayPal has a clear dominance in this line of online payments, as 1.3 million transactions of this service were registered in one month, while the local payment processor, PostePay reached a little more than 1.2 million transactions.
The month in which the largest number of transactions with bitcoin was recorded was last June, with 368,000 transactions. Italians are not very enthusiastic about online payments and prefer to pay in cash at the time of delivery of goods or services, or to pay at a physical store. However, with the latest figures from the SEMRush study, it seems that the attitude of Italians regarding online payments is changing.
In 2018, total online purchases exceeded 40,000 million euros, and 62% of Italians made at least one online purchase.
Last month, PayPal abandoned the Libra Facebook project, devised as a global payment system. After PayPal’s departure from the project, Visa, eBay Mastercard and Stripe also left the Libra Association, which was officially constituted with 21 of the 28 initial adherents.
PayPal had been one of the early sponsors of the project that has been besieged by financial regulators around the world.
The interest of users who make online purchases for cryptocurrencies is also starting to grow. An Investing.com survey at the beginning of the year revealed that 13% of participants were interested in acquiring cryptocurrencies. The study reports that: “While Amazon user preferences pointed to Amazon-branded computers (73%) or local businesses and coupons (52%), other offers such as health services (15%), public transportation ( 13%) and cryptocurrencies (13%) reflected a greater reluctance of users”.
Despite the reservations of users and the low percentage of those who expressed the desire to acquire cryptocurrencies through a known e-commerce service, it can be inferred that a consumer sector believes that Amazon could eventually provide such service.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.