Italy and Poland lack credit card information
Monday February 25, 2008
In a joint study between Cittadinanzattiva and UniCredit SpA it has been found that credit card use in Italy is low due to a lack of information about debit and credit cards.
78 per cent of Italians own debit cards and 52 per cent own credit cards, but they use them far less often than other Europeans, second only to Poland in use of money within Europe.
Concerns about scams and hoaxes are the reason behind the mistrust of credit cards, yet statistics show that only 4 per cent of cards are stolen each year, with only 3 per cent cloned. This distrust is even causing damage to the economy, with banks struggling to keep ATMs stocked with cash, and businesses having to spend more time and security-funding than competitors in other countries on money counting.
Source: Bloomberg
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