20 Sep Ecommerce payments: Insights from Roberto Liscia, Netcomm

Discover the future of digital payments and their impact on ecommerce in MyBank’s interview with Roberto Liscia, President of Netcomm, The Italian Ecommerce Association.

About our guest:

Roberto Liscia, a Nuclear Engineer and Master in Business Management from INSEAD, is currently a professor in Industrial Marketing and President of Netcomm, The Italian Ecommerce Association.

Additionally, he is a founder and Executive Board Member of Ecommerce Europe, an organization based in Brussels that currently counts 24 member countries and has become the most important center for analysis and development of policies and regulatory positions on ecommerce at European level.

Innovator at heart, you have always supported businesses and organisations going in the right direction to spread digital culture and inclusivity. Where do you think we stand today, in terms of digital literacy in Italy?

Digital literacy in Italy has seen significant progress, but there is still a long way to go. According to the DESI (Digital Economy and Society Index) of the European Commission, Italy is still below the European average.

Initiatives to improve digital skills have grown, especially in schools and among young people, but it is essential to extend these efforts to the entire population, including the elderly and the most vulnerable social groups. Investing in continuous training and ensuring universal access to technology are crucial steps to bridge the digital divide and promote inclusivity.

Regarding payments, in 2023 the average number of digital payments per capita in Italy was around 220 per year, far from the European average of about 400 payments per capita per year. What are the obstacles to the transition to a digital mode, and how can we catch up in Italy?

The main obstacles to the transition to digital payments in Italy include a certain cultural resistance, lack of trust in the security of digital systems, and an infrastructure that is not always up to standard.

To catch up, it is necessary to invest in education and awareness campaigns that highlight the benefits and security of digital payments. In addition, improving technological infrastructure, offering incentives to businesses to upgrade their systems, and ensuring widespread access to high-speed internet are fundamental. Targeted government policies and collaborations with the private sector can accelerate this process.

From our point of view, the A2A (account-to-account) payment method is increasingly gaining ground among companies, individuals, and public administrations. According to The Paypers report, in Europe A2A payments accounted for about 18% of online transaction value in 2023. What do you think are the reasons driving this growing trend?

The growth trend of account-to-account (A2A) payments is driven by several factors. The simplicity and efficiency of these payments, which eliminate intermediaries, reduce costs, and speed up transactions, are among the main reasons for their success.

Regulations such as PSD2 (Payment Services Directive 2) are a key component in increasing trust in digital payments, also aiming to encourage the adoption of A2A payments. Additionally, the increasing integration of technologies and the digitization of companies and public administrations have created a favourable environment for the expansion of this payment method.

In Italy, only about 17% of companies are familiar with or have some knowledge of digital technologies. What are the winning criteria for payment solutions to facilitate the progressive acquisition of digital confidence by businesses?

To facilitate the acquisition of digital confidence by businesses, it is crucial to adopt intuitive, secure, and easy-to-integrate payment solutions that can fit seamlessly into existing systems. Companies need continuous training and support in using these solutions, thereby overcoming initial reticence.

It is important to promote partnerships with technology providers and fintech companies to offer advanced and innovative tools. Moreover, flexible and transparent payment solutions that simplify financial management can help companies integrate digital into their daily processes.

Over 10 years ago, MyBank was welcomed by Netcomm, that supported its dissemination in the Italian market. What can you tell us about the launch of the MyBank payment solution from your perspective and could you share some of its key development milestones?

The development and launch of MyBank was motivated by the need to create a secure and immediate payment solution that could facilitate online transactions between consumers and businesses. The goal was to offer a seamless payment experience using existing banking channels.

The key milestones of its development include its official launch in 2013, followed by rapid adoption by Italian banks. Subsequently, MyBank expanded its presence at European level, consolidating itself as a reliable solution for digital payments and continuing to innovate to meet market needs.

What factors made you trust in this account-to-account payment method?

The factors that led me to believe in MyBank as an account-to-account payment method include its ease of use, transaction security, and the transparency it offers. MyBank significantly reduces fraud risks thanks to immediate payment confirmation and the use of existing banking infrastructures.

Additionally, the ability to make real-time payments meets the modern market’s needs for speed and efficiency, making MyBank an ideal solution for consumers, businesses, and public administration entities.

Can we define MyBank as a forerunner of Open Banking and a driver of innovation and inclusivity for digital payments in Europe?

Absolutely, MyBank can be considered a forerunner of Open Banking. It introduced key concepts such as interoperability and security of digital transactions between bank accounts, promoting innovation in digital payments. MyBank has played a fundamental role in financial inclusivity, facilitating access to digital payment services for a wide range of users across Europe. Its ability to adapt to market needs and integrate new technologies has made it a driver of change in the digital payments landscape.

From your favourable standpoint, can you describe how consumer and business purchasing habits are changing?

Purchasing habits are changing radically due to digitalization. Today, consumers seek seamless, customised, and secure purchasing experiences, preferring online channels for their convenience and speed.

Businesses are adapting their strategies to meet these expectations, investing in e-commerce platforms and enhancing their digital presence. Sustainability and transparency have become fundamental values for consumers, influencing their purchasing decisions. Additionally, Generation Z, raised with technology, is redefining expectations for an increasingly interactive and omnichannel shopping experience.

If there was a secret ingredient for successful initiatives, what solutions would it comprise? In other words, what solutions should merchants implement to offer an evolved UX that meets these needs?

The secret ingredient for successful initiatives is a combination of innovation, simplicity, and user-centricity. Merchants should implement integrated payment solutions that offer an intuitive and secure user experience (UX).

It is essential to provide flexible payment options such as digital wallets, installment payments, and account-to-account solutions like MyBank. The use of advanced technologies like artificial intelligence to personalize the shopping experience and blockchain to increase transparency and security can make a difference. Additionally, adopting an omnichannel approach to ensure consistency and continuity across various touchpoints is crucial.

Regarding payments, what trends are emerging in different segments (B2B/B2C), and what are the common factors? How do account-to-account payments position themselves in this context?

In the B2C segment, trends include the increase in contactless payments, the adoption of digital wallets, and the growing use of biometric technologies for authentication.

In the B2B segment, there is a growing preference for fast and secure digital payments, with an emphasis on automating accounting processes.

Account-to-account payments are well-positioned in both segments thanks to their efficiency, security, and cost containment opportunities. They offer a scalable and versatile solution that meets modern markets’ needs for speed and transparency, helping improve cash flow management and transaction reconciliation.

Looking to the future, what evolutions do you see in payment methods and the dissemination of A2A payments over the next 5 years?

In the next five years, I foresee a continued expansion of digital payments and greater adoption of account-to-account (A2A) payments. The evolution of blockchain technologies and integration with artificial intelligence systems will make payments more secure and transparent.

Proactive regulation and increased trust in digital systems will contribute to further diffusion. Furthermore, if open banking can benefit from both a regulatory and functional architecture more aligned with its objectives, it will offer service levels more responsive to market expectations, facilitating smoother and more immediate transactions. The growing environmental awareness and demand for sustainability could also drive the adoption of more eco-friendly payment solutions.

Lastly, from your European perspective at the Ecommerce Europe association, what is the current state of the digital euro, and what will be its true innovation?

The digital euro represents a crucial step toward the digitalization of currencies in the EU. Currently, we are in the study and development phase, with the European Central Bank exploring the best ways to implement it.

The digital euro aims to complement cash, offering a secure and reliable alternative for digital payments. Its true innovation lies in its ability to improve financial inclusion, ensure the monetary sovereignty of the EU, and provide a European response to private cryptocurrencies. Additionally, the digital euro could simplify cross-border payments, reduce transaction costs, and strengthen the resilience of the European financial system. This innovation could also promote the competitiveness of the single digital market, fostering economic integration within the EU.