End-to-end payments platform, Ecommpay, has signalled its global growth ambitions with the inclusion of 3 key Italian Alternative Payment Methods (APMs).
The addition of BANCOMAT Pay, MyBank and Satispay to the Ecommpay platform will enable e-commerce merchants operating both in Italy and those who want to target the Italian market, to improve conversion performance through more tailored payment choice in their online propositions.
As Moshe Winegarten, Chief Revenue Officer, Ecommpay explained, the Italian e-commerce market has considerable scope for growth. “According to the ‘Ecommerce in Italy 2024’ report from Casaleggio Associati, the total e-commerce turnover in Italy is estimated to have been worth 80.55 billion euros in 2023; it is one of the fastest growing e-commerce markets in Western Europe. However, Italy has a relatively complex payments landscape which has made it more challenging for online transactions.
“What e-commerce merchants in Italy and those targeting the lucrative Italian market now need is a payment solution that is easy to integrate and removes friction from the process, as well as delivering fraud protection. By adding BANCOMAT Pay, MyBank and Satispay to the Ecommpay platform, we’re not only removing reasons for basket abandonment. We’re also providing merchants with a solution that has a 99.99% fraud prevention record. And our single API means it’s easy to integrate the Ecommpay platform into a merchant site.”
Ecommpay research has shown that lack of payment choice, and particularly lack of recognised local payment methods, is a key reason for basket abandonment on e-commerce sites. Its innovative and market-leading dynamic payment choice functionality increases acceptance rates by 2-3%. Adding recognised Italian payment methods should, therefore, significantly enhance merchant sales performance. The addition of alternative payment methods alongside credit cards also delivers cost savings for merchants.
BANCOMAT Pay is Italy’s second most popular payment method, enabling consumers to make online purchases through an app on their mobile phones. MyBank enables consumers to pay for their online purchases in an easy and safe way using real-time bank transfers. Satispay is a mobile payment solution that enables direct payments to merchants.
With 160 languages available to merchants globally, Ecommpay offers Italian e-commerce merchants the facility to display payments pages in the local language based on IP addresses and by reading the main language on their device. And the open access ethos of Ecommpay, through a single API, means that merchants can quickly and easily integrate the payment platform without requiring significant developer time.