• Postepay, a payment service provider owned by Poste Italiane, was the most downloaded FinTech app in Italy in the first half of 2022 with 1.5 million downloads. Postepay has 12.3 million total downloads as of 30th June 2022, which equates to one in five Italians (Italian population is 55.95 million) and has grown rapidly with a compound annual growth rate (CAGR) of 16% from since it was founded in 2017 to 2021 and is expected to grow 15% in 2022 based on downloads in H1 2022.
• PayTech and WealthTech evenly dominated the top ten apps listed accounting for five each. Digital payments total transaction value is expected to reach $100bn in 2022 although this is mainly carried out via the internet with 62% of Italians using the web compared to 23% using mobile for banking transactions. When accessing banking services mobile banking was the preferred method with more than two-thirds of Italians favouring it over other channels.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global
