Milan, 02/27/2025 – 57% of Italian teenagers between the ages of 12 and 17 use digital payment tools, with a percentage that rises to 66% in the 15-17 age group, however, only 22% of parents choose a traditional bank for the account in their children’s name, preferring solutions such as PostePay and digital players such as Revolut and Hype. This represents a missed opportunity for traditional banks: the teen offer concerns almost one customer in five among those over 12 years old and 31% of parents who open an account for their child, then sign up for a service with the same provider for themselves. This is what emerges from the research “Teenagers and payments in Italy” conducted by Excellence Payments and Excellence Education, a company of the Excellence Group, through an anonymous online survey carried out between December 2024 and January 2025 on a representative sample of 360 Italian parents with children between 12 and 17 years old.
The growth of digital payments among young people and their behaviors
The study by the Milanese group highlights a strong diffusion of digital payments among young people. 57% of teenagers have an electronic tool, with 74% opting for rechargeable cards, 15% having a current account with a payment card and 11% using digital wallets. The use of digital payments varies depending on the context, 41% of teenagers use digital tools in physical stores on a weekly basis or more, while only 17% use them regularly for online purchases. 38% of young people access electronic payment tools to find out the balance amount and 37% to manage their savings, demonstrating high awareness in money management. There is also a strong limitation in the ability to exchange money between peers in a simple way, with only 13% of teenagers having tools that allow immediate money transfers between friends or family.
The generational impact, the role of parents and the delay of traditional banks
The teen offer represents a sort of reverse generational transition, with young people who will not only be the account holders of tomorrow, but will also bring their parents to the banks as new customers. Despite the central role of parents in choosing the payment instrument, with 36% analyzing the market before purchasing, traditional banks are unable to establish themselves in the segment. Only 22% of accounts in the name of minors are managed by traditional banking institutions, while 40% are managed by Poste Italiane and 38% are entrusted to digital players such as Revolut, Hype, Satispay and PayPal. The ranking of the payment services most cited by interviewees sees PostePay, Revolut and Hype in the first three places, while traditional banks such as Intesa Sanpaolo and UniCredit are positioned only in fourth and fifth place. Another interesting data is that relating to cross-selling, with 31% of parents who opened an account for their child and subsequently signed up for a service with the same provider for themselves, of which 43% chose a digital player, 32% a postal provider and only 25% a traditional bank. Expense control is confirmed as a key functionality, 64% of parents who have not yet adopted digital tools for their children consider expense monitoring essential, compared to 50% of those who already use these tools, confirming the importance of solutions with parental control.
The generational impact, the role of parents and the delay of traditional banks
“The adoption of digital payment tools among teenagers – states Andrea Gnetti, CEO of Excellence Payments – is now a consolidated and continuously growing trend. PostePay and some digital banks have made the development of this segment a central element of their expansion strategy, leaving traditional institutions behind, who now must increase their commitment to recover market shares.”
“Financial education plays a fundamental role – says Mario Morelli, partner of Excellence Education – more and more children are involved in managing their own expenses, but knowledge of the offers dedicated to them is still limited, a collaboration between financial institutions and the world of education could reduce this gap, improving parents’ awareness and confidence in adopting digital tools for their children.”
“The data confirms that the teen segment – declares Maurizio Primanni, CEO of the Excellence Group – represents a sort of generational transition in reverse, a strategic opportunity for the payments sector, a target that not only allows the acquisition of new customers, but also encourages family loyalty. Operators who are able to respond to this demand with innovative products will have a significant competitive advantage.”
