Ecommpay to Boost Italian E-Commerce with Three New Local Payment Options
Ecommpay, an end-to-end payments platform, is expanding its global reach by introducing three essential Italian Alternative Payment Methods: BANCOMAT Pay, MyBank, and Satispay. This addition is set to enhance the performance of e-commerce merchants both within Italy and those targeting the Italian market, by offering more tailored payment options that improve conversion rates.
Moshe Winegarten, Chief Revenue Officer at Ecommpay, highlighted the potential for growth in the Italian e-commerce sector. “Italy’s e-commerce market, valued at €80.55 billion in 2023 according to the ‘Ecommerce in Italy 2024’ report by Casaleggio Associati, is one of the fastest-growing in Western Europe. However, the complexity of Italy’s payment landscape has posed challenges for online transactions.”
Winegarten emphasized that what merchants need is a payment solution that is easy to integrate, reduces friction, and offers strong fraud protection. “By incorporating BANCOMAT Pay, MyBank, and Satispay into the Ecommpay platform, we’re not only addressing basket abandonment but also offering a solution with a 99.99% fraud prevention rate. Additionally, our single API simplifies integration into merchant websites.”
Ecommpay’s research indicates that a lack of recognized local payment methods is a significant cause of basket abandonment. Their dynamic payment choice feature has already increased acceptance rates by 2-3%, and adding these popular Italian methods is expected to further boost sales for merchants. The inclusion of alternative payment methods alongside credit cards also provides cost savings.
BANCOMAT Pay, Italy’s second most popular payment method, allows consumers to make online purchases via a mobile app. MyBank offers secure, real-time bank transfers for online shopping, while Satispay is a mobile payment solution for direct merchant payments.
With support for 160 languages, Ecommpay enables merchants to display payment pages in the local language based on IP addresses or the primary language of the user’s device. Moreover, Ecommpay’s open access, via a single API, allows merchants to integrate the platform quickly and efficiently, minimizing the need for extensive developer involvement.