Revolut shows how Italians’ credit card payments abroad during summer 2023, grew by 83% compared to the same period 2022.
Revolut Italy: credit card payments abroad increase by 83%
The financial super app, Revolut, released a report on payments made by Italians during summer 2023.
What emerged is that credit card payments abroad increased by 83%, compared to summer 2022, while the total amount spent increased by 80%.
In practice, for this summer 2023, Italians spent an average of €579 per person abroad, compared to €567 in 2022 (+2%).
These numbers are based on an ever-growing presence of Revolut on the Italian territory, and indeed, the global app has over 1.3 million customers in Italy.
In this regard, Revolut also identified which countries attracted the most Italians and their credit card payments, putting Spain in first place, followed by the United Kingdom, the United States, France and Greece.
Looking instead at individual spending, it appears that it is the United States that has achieved a higher average of Revolut credit card payments by Italians, spending €684 per person.
Indeed, right behind is the United Kingdom with an average of €422 per person, Spain with €379 per person, Greece with €332 per person, and France with €289 per person.
Revolut and the countries that used their credit cards in Italy
Instead, looking at Italy as a destination for foreign travelers, Revolut identified Poles and Hungarians as those who spent the most in the Bel Paese this summer.
Not only that, again tracking credit card payments by foreign travelers, Italy is also the second country for Romanian travelers and the third country for Bulgarians.
In this regard, Ignacio Zunzunegui, Head of Southern Europe at Revolut, said:
“Foreign spending is finally returning to growth, and it is important for consumers to have a tool like Revolut capable of tracking spending, offering secure transactions and advantageous exchange rates while traveling. In parallel, with Revolut, we also offer an excellent solution to those who need to manage their daily expenses, keep track of their money and manage it better, aspects about which Italians seem to be increasingly aware.”
The launch of the new live payments reader in the Bel Paese
Staying on Italian soil, the global financial app recently announced the launch of the new Revolut Reader, the card reader for in-person payments.
It is a lightweight, fast and powerful hardware device designed to enable professionals of all types to securely accept payments anywhere.
This means that the Revolut Reader works even if the activity is carried out on the move.
Access to funds from payments with Revolut Reader are then available on the Revolut app within 24 hours, eliminating the need for multiple systems and accounts for transactions.
Revolut Reader had already been launched last July 2022 in Ireland and the United Kingdom, and is now rolling out to other European countries such as Italy.