Revolut Italy: Credit Card Payments Abroad Increase by 83%
Revolut, the financial super app, has released a report on credit card payments made by Italians during the summer of 2023. The findings reveal that compared to the same period in 2022, credit card payments abroad grew by 83%, while the total amount spent increased by 80%. This means that Italians spent an average of €579 per person abroad, a 2% increase from 2022. These numbers can be attributed to the growing presence of Revolut in Italy, with over 1.3 million customers. The top countries attracting Italian travelers and their credit card payments were Spain, the United Kingdom, the United States, France, and Greece.
Revolut and the Countries that Used Their Credit Cards in Italy
When it comes to Italy as a destination, Revolut found that Poles and Hungarians were the top spenders this summer, followed by Romanians and Bulgarians. Ignacio Zunzunegui, Head of Southern Europe at Revolut, emphasized the importance of having a tool like Revolut that tracks spending, offers secure transactions, and provides advantageous exchange rates while traveling. Italians are increasingly aware of the benefits of managing their daily expenses and money with Revolut.
The Launch of the New Live Payments Reader in Italy
Revolut has recently introduced the Revolut Reader, a card reader for in-person payments, in Italy. This lightweight and powerful device allows professionals to securely accept payments anywhere, even when on the move. Funds from these payments are available on the Revolut app within 24 hours, eliminating the need for multiple systems and accounts for transactions. The Revolut Reader was initially launched in Ireland and the United Kingdom in July 2022 and is now being rolled out in other European countries, including Italy.
Hot Take
Revolut’s report highlights the increasing trend of Italians using credit cards for payments abroad, with significant growth compared to the previous year. The company’s expanding presence in Italy and its ability to track spending and offer secure transactions are appealing to Italian travelers. The launch of the Revolut Reader in Italy further enhances the convenience and efficiency of making in-person payments. Revolut’s focus on providing innovative financial solutions is driving its success in the Italian market.
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