Digital payments in Italy are growing rapidly, with a 12% increase recorded in 2023 alone. However, cash remains deeply entrenched, leaving Italy among the most cash-intensive economies in Europe. This reliance on cash is particularly pronounced in the Southern regions, highlighting regional disparities in payment behavior.
The acceleration of digital payments presents both challenges and opportunities. For merchants, adopting cashless payment solutions is no longer optional—it’s essential to retain and grow their customer base and sales volumes. Innovative features like Buy Now, Pay Later (BNPL) are driving this shift, accounting for 6.5% of all Italian e-commerce transactions in 2023.
For financial institutions, this trend demands a proactive response. They must deliver new solutions and services that are interoperable, tailored to specific needs, user-friendly, secure, available 24x7, and cost-effective. These solutions must cater to both businesses and consumers, encompassing areas such as card issuing, acquiring, and digital wallets.
In the transition toward a cashless society, OpenWay is committed to supporting financial institutions in overcoming barriers to the widespread adoption of digital payments. Our goal is to serve as a key driver of transformation and modernization, helping the country embrace the opportunities of a digital payment future.
Cultural and generational factors play a significant role in shaping payment preferences in Italy. For example, individuals from the Baby Boomer generation—those born in the 1960s—have shown a surprising willingness to adopt digital tools and engage with electronic commerce. While age is often considered a barrier to technology adoption, this group demonstrates readiness when they see clear benefits.
On a broader level, the Italian government is actively promoting the shift from traditional in-branch, mostly cash payments to new digital channels. This push is not only about embracing modernity but also about fostering greater transparency in financial transactions. This progressive cultural shift, supported by policy, highlights Italy’s readiness for digital transformation.
Italian banks often leverage on existing services that can be delivered at scale. They work across several domains to create comprehensive, omnichannel digital banking solutions. Payments are a critical piece of this broader strategy, but not the sole focus.
Italy’s regulatory framework provides a balanced and supportive environment for innovation in the financial sector. They work with providers to ensure compliance, creating an ecosystem that encourages the development of innovative payment solutions. A recent example is a fintech bank who obtained an Italian IBAN after a test period, allowing a wider set of services.
At OpenWay Italy, we operate with two teams that work closely with our clients to ensure the right capacity and skillset. The first is the application management team, which is deeply integrated with our clients’ IT organizations with the objective of keeping the maximum level of performance and continuity. It acts as the first point of contact for any issues that arise on the platform. Depending on the nature of the problem, it is either resolved locally or by engaging OpenWay’s global support team. Close collaboration between all OpenWay entities around the world ensures that no matter where in the globe our clients want to grow their business, they get swift issue resolution and timely support.
Second is the project delivery team, an adaptive and flexible entity that is structured around the project streams to be delivered. Even though it is local, it is by extension a glocal team, a joint effort by different OpenWay professionals around the world. Physical presence is essential, especially in certain circumstances, as it allows us to share feedback and address concerns in person, strengthening the relationship and ensuring seamless project execution.
In managing these teams and fostering collaboration, I place a great deal of trust in each individual’s sense of responsibility. OpenWay’s organizational focus on specific areas enables us to strike a balance between autonomy and teamwork.
Coordination between relationship managers and delivery organizationis crucial in order to evaluate the pros and cons of each decision collectively. For this reason, OpenWay employs a collaborative and orchestrated approach: we discuss, seek consensus and make decisions. While this method can take longer, it results in more meaningful, balanced, and well-supported decisions: we focus on joint problem-solving through a shared approach. The goal isn’t merely to finalize a decision but to ensure that the solution we arrive at is robust and fully supported by all stakeholders. This collaborative approach enriches the process and reinforces the alignment between OpenWay’s global vision and local execution.
Absolutely. One key takeaway is the immense value of proximity to the client. OpenWay’s world headquarters is in Belgium, and for a while, we believed it was sufficient to support clients from centralized hubs like Belgium, Cyprus, and other regional offices. However, in working with growing busineses, we recognized that certain levels of collaboration and support are only achievable when a dedicated local team works directly with the client. So if necessary, OpenWay is always ready to open new local hubs, either independently or as a joint project with partners in the region.
In many ways, we’ve come full circle. Initially, when clients focused primarily on their local markets, we responded by establishing a regional presence. As our clients grew larger and more global, we adopted a scalable, resilient approach that proved invaluable, particularly during the pandemic. A prime example is the remote migration of Nexi to a new acquiring platform, completed with minimal delays despite the global disruption caused by the COVID-19 pandemic. Now, we’re rediscovering the unique advantages of being geographically close—of “breathing the same air” as our clients. Local presence fosters a deeper understanding of our client’s needs, enhances collaboration, and reinforces our commitment to their success. This is positively shaping how we approach client relationships worldwide.
My passions revolve around activities in wild, open spaces. Running, trekking, and sailing are the three pursuits that occupy most of my free time. These may seem simple at first glance, but each demands a specific blend of physical and psychological preparation with valuable life lessons to be learned.
When running, I learn resilience and focus—whether tackling short sprints or enduring long distances, on paved roads or rugged mountain trails. Trekking teaches me to face the challenges of the journey, embrace new habits and cultures outside of Italy, and always be prepared for the unexpected. While sailing on the open sea, I am reminded of the importance of humility and patience in the face of nature’s immense power. It’s about understanding what your limits are, planning wisely, and taking effective actions to reach your destination. A boat also symbolizes how success relies on teamwork—the collective effort, skills, motivation, solidarity, and shared purpose of the crew.
Interestingly, these lessons often mirror business challenges. So free time becomes a training ground for managing vastly different situations, fostering creativity, honing the ability to listen and observe, committing to results, staying rational, and cultivating bravery.