Bancomat (debit card)

Bancomat is an interbank network for cash withdrawals widely used in Italy. It was first introduced in 1983 for use with automated teller machines.

Bancomat/PagoBancomat
Operating areaItaly
Members561[1]
ATMs53,000[1]
Founded1983
OwnerBancomat Consortium
Websitebancomat.it

The network is owned by the Rome-based Bancomat Consortium and its cards are issued by Italian banks. The service is only used in Italy and the word “bancomat” is used in Italy as a synonym for automated teller machine.

In 1986, an associated debit card network called PagoBancomat was introduced, which is based on the Bancomat service and is intended for PIN-based POS transactions.

Since the Bancomat network is not used outside Italy, almost every Bancomat/PagoBancomat debit card is co-branded with a multinational service, such as Mastercard, Maestro, Visa, Visa Electron or V Pay, for use abroad.

A new service called Bancomat Pay was introduced in January 2019. It is intended for electronic payment for online transactions.[2][3]

See also

References
  1. (in Italian) Numeri | Consorzio Bancomat
  2. Introducing Bancomat Pay: New Digital Payment Services For 37 Million Italians
  3. (in Italian) Nasce Bancomat Pay: ecco che cos'è e come utilizzarlo
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