Bitcoin is now the third largest online payment method in Italy

Bitcoin has become the third most preferred online payment method in Italy, according to new data from market analysis firm SEMRush.

Bitcoin becomes the third most preferred online payment method

Bitcoin is now Italy’s third-largest online shopping payment method, beating even Visa, Mastercard and American Express.

According to SEMRush, a market analysis firm, bitcoin is now the third largest online payment option for italians, behind PayPal and PostePay, a national prepaid card service.

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Paypal and PostePay remain the leading payment methods in Italy

Paypal, the online payment service, remains the undisputed first choice for online payments in Italy, with about 1.3 million transactions per month. It was followed by PostePay, an Italian payment processor, which processes nearly 1.2m transactions a month.

Next up is Bitcoin, which uses bitcoin more than 215,800 times a month to make online purchases, compared with 189,000 a month for American Express. Historically, Italians have been wary of virtual currency payments, preferring to pay on delivery on delivery or in-store. However, based on these latest figures, the mood for the virtual currency appears to be changing.

Meanwhile, according to the report, the total expenditure of B2C e-commerce in 2018 exceeded 40 billion euros, and 62% of italians conducted online shopping at least once in that year.