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18 October 2020A 'digital native' current account for payment of bills, taxes and duties of Public Administrations with pagoPA, but also for the exchange of peer-to-peer money without debit, the payment of recharging electric cars, donations for initiatives of third sector associations such as Save the Children, Food for Soul, Doctors Without Borders.

All through a dedicated app, Enel X Pay, and a contactless credit card.



A third of bulletin transactions


A market with high potential: in Italy, payments on bulletins move 300 million transactions every year.

On average, each of these transactions has a cost of 1.5 euros and the Enel group is responsible for as many as 100 million.



Looking ahead, the new Enel X Pay service, in partnership with Mastercard, represents an important challenge, as acknowledged by Francesco Venturini, CEO of Enel X: "Disintermediation from traditional financial services gives us the opportunity to enter a highly competitive sector". 



Pandemic and the rise of contactless payments


The energy company makes its debut in the increasingly crowded sector of digital financial services and mobile banking through Enel X Financial Services, the fintech founded by Enel X (the technological 'spinoff' of the group) which exploits the innovations in legislative framework on the subject of digital payments. A sector that, according to the Politecnico di Milano is growing further, also due to the Covid-19 pandemic. 



From January to June 2020, in fact, 760 million contactless transactions were recorded (+ 17% compared to the same period of 2019), notes the Politecnico di Milano. A growth sustained by the increasing number of cards in circulation, c

he testifies how this method of payment has now entered the habits of Italians also for reasons of greater safety and hygiene (not having to touch the pos and enter the pin for transactions of less than € 25).



The transition from cash to cards is further confirmed by the data relating to withdrawals, which decreased by over 23% in terms of number of transactions and 15% in terms of volume, is the estimate of the PoliMi Digital Payment Observatory.



In the first six months of 2020, marked by the Covid-19 emergency, despite a decrease in digital payments (-6.3%), it was much more contained than the overall decline in consumption in Italy (estimated at -10, 4% and -29.7% respectively in the first two quarters).



"The business model we are inspired by is that of a Big Tech that puts its ability to innovate at the service of customers, relying on strategic partnerships with leading technology players, to offer solutions with high added value", he declared Giulio Carone, CEO of Enel X Financial Services.