The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council.

At the start of 2024 we were delighted to welcome a new member: PostePay. We spoke to PostePay’s General Manager, Laura Furlan, about payment trends, PostePay’s role within the Italian payment sector, on which payment innovation products they are focusing, and finally, their expectations as our newest member.

Could you tell us about PostePay, its place in the Italian payments sector, and its role within Poste Italiane Group?

Postepay is a leading payments service provider (PSP) in Italy, with a stock of about 30 million cards in addition to eleven million digital wallets, and processing 2.3 billion transactions per year. Postepay is a unique PSP, which directly offers its customers hybrid everyday services, including telco (sim and landline) and energy (power and gas).

PostePay is a subsidiary of Poste Italiane group, a platform company operating in mail and parcel delivery, financial services, and insurance with an omnichannel strategy based on an unparalleled network of post offices, proprietary digital channels and third parties.

In Italy, PostePay is well-known for Postepay Evolution, a prepaid card with an IBAN that has reached a stock of ten million cards and a significant share of e-commerce payments.

PostePay also supports the Poste Italiane Group in its constant search for innovative solutions reducing the digital divide and increasing financial inclusion, supporting and sustaining different segments of the population within the communities in which it operates. 

On which innovative payment products is PostePay currently focused? What developments do you foresee in the near future?

PostePay is currently focused on digital wallet solutions and continues to foster the growth of a valuable relationship with customers through the development of innovative omnichannel solutions that ensure payments, sales and the constant improvement of customer experience. To increase digital payments transactions and progressively replace cash, we are working on international open standards such as instant payments and closed loop transactions via our digital wallets. We call these activities an ‘Instant Open Payment Platform’.

Alongside these innovations, we believe that there is still a lot to do in the industry to improve customer experiences and security to increase trust, convenience, and simplicity to our payments methods. This objective is our primary business goal in PostePay everyday activities.

In compliance with the European Retail Payment Strategy, PostePay is working on new, more digital and instant payment services, strengthening PostePay acceptance. In particular, PostePay is focusing on innovative solutions based on QR codes and the potential evolutions of the revised Payment Services Directive (PSD2) and future Third Payment Services Directive (PSD3). Furthermore, the missing piece of the puzzle in the innovative Request-to-Pay (RTP) payment ecosystem is on the PostePay roadmap. 

What macro-trends in the European payments landscape are currently the most interesting for PostePay? And what role do you think the EPC might play in this context?

At this time in history, people are continually adapting to this climate of instability, primarily seeking a sense of belonging that is also reflected in their choice of a brand. In this scenario, two macro-trends emerge around which PostePay will design products and experiences for customers: digital wallets and data-driven artificial intelligence (AI).

According to Juniper data¹:  
-    sixty percent of the world's population will use digital wallets by 2026, with accelerated growth due to the use of super apps and QR code payments;
-    a growth of more than seventy-seven percent is estimated for global transaction value from digital wallets from 2023 to 2028.

Digital wallets are set to be enriched with exclusive services and features that will respond to the customer's needs and accompany them in managing their daily routine: evolved money exchange, social payment, payment management, Buy Now Pay Later, ticketing, and mobility.

The use of AI enables the optimisation of customer segmentation and personalisation. This enables faster responses, accelerates the time to market and enhances personalised content and the customer journey. According to Gartner research Top 5 Marketing Trends and Predictions for 2023, by 2025, organisations using AI in marketing will shift 75 percent of their operational activities from production to more strategic areas. Hyper-personalisation is the engagement process that uses AI for real-time data management to create products.

We believe EPC can play a very relevant role in this landscape. As a community of professionals, it is a relevant meeting place for discussing innovation and bringing directives to the market. We think as a PSP we will find support in the understanding and the definition of the new payments standards and in facilitating the dialogue with various stakeholders and regulators at the European level. This role is even more important during this evolution phase towards new standards.

What were the key drivers for PostePay and the Poste Italiane Group to join the EPC? And what expectations do you have of your membership?

First of all, we are very excited to have joined the EPC.

PostePay decided to join the EPC because it aims to increase the development and knowledge of SEPA payment schemes and the evolution of the payments world. We are willing to participate in and contribute to the EPC's working groups on the strategic payment issues and access to all documentation developed by the working groups. 

 

By working with the EPC, PostePay will be able to actively contribute to the harmonisation of payments under SEPA and bring to its customers the benefits of cooperation and innovation that can be achieved at the European level thanks to all the actors involved in the EPC.
 

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