Payment options for different consumer needs
Posted: Sat Apr 05, 2025 5:58 am
Spending preferences are increasingly diverse. Debit cards (42%) are the most used payment method by Italians this year compared to last year, but credit cards and prepaid chinese overseas british database cards (37%), bank transfers (33%) and digital wallets (29%) have also increased in popularity, with the emergence of new payment methods and platforms. Nearly half (47%) of Italian consumers have made an online purchase through social media, and 33% do so several times a year. Nearly a third (29%) of people now use a wearable device, such as a smartwatch, to pay.
Attitudes towards emerging technologies vary by generation, with younger people more likely to embrace innovative payment options, such as AI-powered payments. Around a fifth (21%) of 18-43 year-olds are fully comfortable with using AI to improve payments, compared to 26% of those aged 60 and over who are not at all comfortable with the idea of AI in payments.
Financial strength
By examining the data behind these changing payment habits, the research reveals the financial challenges faced by many consumers around the world. In Italy, more than half (62%) of respondents say they earn just enough to cover their monthly expenses and just over a quarter (28%) say they do not earn enough to cover their monthly expenses, with this figure rising to 37% for Gen Z. While the majority of respondents expect their income to increase in the next 5-10 years, more than half (56%) believe their income will increase by 10% or less and 28% say they do not expect any increase. Despite limited disposable income at the start of their careers, Gen Z and Millennials were confident about their future earning potential, expecting increases of 16% and 11%, respectively. But with many consumers living paycheck to paycheck , the opportunity to save has diminished, with 40% saving less than 6% of their income each month and 13% not saving at all (down from 18% in Paysafe’s 2023 survey). The inability to save can be attributed to the rising cost of living, with respondents reporting they are spending more on everyday necessities such as groceries (65%), utilities (65%), essentials and childcare (47%).
Optimistic outlook
Paysafe data indicates a sense of optimism among consumers, with 48% of respondents – and 59% of Gen Z – saying they are confident about their financial future and planning for it. A fifth (20%) of respondents are saving for their first home. This rises to almost half (43%) of Gen Z respondents, who plan to buy their first home before the age of 34. While globally, Gen Z’s positive outlook extends to the belief that they can reach another major milestone at a young age, with 49% expecting to retire before the age of 61, in Italy this prediction is confirmed by only around a fifth of respondents (18%).
Attitudes towards emerging technologies vary by generation, with younger people more likely to embrace innovative payment options, such as AI-powered payments. Around a fifth (21%) of 18-43 year-olds are fully comfortable with using AI to improve payments, compared to 26% of those aged 60 and over who are not at all comfortable with the idea of AI in payments.
Financial strength
By examining the data behind these changing payment habits, the research reveals the financial challenges faced by many consumers around the world. In Italy, more than half (62%) of respondents say they earn just enough to cover their monthly expenses and just over a quarter (28%) say they do not earn enough to cover their monthly expenses, with this figure rising to 37% for Gen Z. While the majority of respondents expect their income to increase in the next 5-10 years, more than half (56%) believe their income will increase by 10% or less and 28% say they do not expect any increase. Despite limited disposable income at the start of their careers, Gen Z and Millennials were confident about their future earning potential, expecting increases of 16% and 11%, respectively. But with many consumers living paycheck to paycheck , the opportunity to save has diminished, with 40% saving less than 6% of their income each month and 13% not saving at all (down from 18% in Paysafe’s 2023 survey). The inability to save can be attributed to the rising cost of living, with respondents reporting they are spending more on everyday necessities such as groceries (65%), utilities (65%), essentials and childcare (47%).
Optimistic outlook
Paysafe data indicates a sense of optimism among consumers, with 48% of respondents – and 59% of Gen Z – saying they are confident about their financial future and planning for it. A fifth (20%) of respondents are saving for their first home. This rises to almost half (43%) of Gen Z respondents, who plan to buy their first home before the age of 34. While globally, Gen Z’s positive outlook extends to the belief that they can reach another major milestone at a young age, with 49% expecting to retire before the age of 61, in Italy this prediction is confirmed by only around a fifth of respondents (18%).