Nexi Leads the Growth of Mobile Payments in Italy: The European PayTech Recorded a 61% Rise in Spending Volumes in 2024

In 2024, Nexi led the growth of mobile payments in Italy, recording a 61% increase in spending volumes from smartphones and smartwatches. The European PayTech once again drove the growth of a sector that, according to data released today by the Innovative Payments Observatory of the School of Management of the Milan Polytechnic, recorded an overall increase of +53% in 2024, reaching a value of €56.7 billion.

Mobile payments is an area where Italians increasingly prefer payment solutions that virtualize the card on smartphones or wearables (including bracelets and watches). This is demonstrated by the increase in the volume of transactions through such solutions: the Polytechnic University of Milan reports that this reached a value of €44.7 billion in 2024, equal to 94% of the total mobile transactions in store, showing accelerating growth compared to 92% in 2023 and 89% in 2022.

This is also confirmed by the 36% rise in Nexi cards that were virtualized on wallets such as Apple Pay, Google Pay and Samsung Pay in 2024. Additionally, the number of mobile transactions carried out last year by Nexi cards in physical and online stores increased by 68%.

“This data confirms that our technological infrastructure is fundamental for the growth of digital payments in Italy and demonstrates our key role in the evolution of this sector; something that is increasingly strategic in its support of Italy’s digitalization journey,” commented Marco Ferrero, chief regional officer of Nexi Italy. “We are also planning significant investments in technologies and skills during 2025, to the tune of €400 million at Group level. This is designed to guarantee further growth in innovative digital payments in Italy this year, continuing the impressive results recorded in 2024 and in previous years.”

The growth recorded by Nexi in mobile payments in 2024 continues the path created by the European PayTech in 2023 and 2022, when the market leader recorded in Italy double-digit increases in spending volume, in the number of transactions managed and in the number of virtualized cards on mobile payments wallets.