Italy Gift Card And Incentive Card - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)

According to Mordor Intelligence, the Italy gift card and incentive card market size in 2026 is estimated at USD 7.22 billion, growing from 2025 value of USD 6.70 billion with 2031 projections showing USD 10.49 billion, growing at 7.76% CAGR over 2026-2031.

This report is Segmented by Card Type (Open-Loop Card and Closed-Loop Card), by Format Type (Digital Card and Physical Card), by Consumer Type (Individual (B2C) and Corporate (B2B)), by Distribution Channel (Online and Offline), and by Industry of Application (Food and Beverages, Health, Wellness, and Beauty, and More). The Market Forecasts are Provided in Terms of Value (USD).

Italy Gift Card And Incentive Card Market Trends and Insights

Surge in e-commerce & mobile payments adoption

Mobile commerce already represents a significant share of total online sales, yet only a relatively small portion of in-store payments are mobile, exposing an untapped bridge for omnichannel gift cards. Digital wallets carry around 35% of online transaction value today and should reach 46% by 2027, making wallet-ready gift cards a natural fit. EU rules mandating instant payments by 2025 promise real-time corporate bulk issuance, while PostePay's 7.2 million Evolution cards illustrate platform-led cross-selling. Cross-border shopping by around 50% of Italian consumers expands demand for multi-currency cards. Overall, omnichannel commerce acts as a flywheel for the Italy gift card and incentive card market.

Corporate demand for employee incentives & loyalty tools

Edenred's EUR 464 million Italy revenue and its acquisition of IP Gruppo API's energy card unit reveal the scale of B2B expansion. Pluxee's 18.6% organic growth after spinning off from Sodexo highlights SME appetite for digital incentives. Epipoli's partnerships with grocer Esselunga demonstrate the convergence of gift cards with loyalty data platforms. Italian tax treatment favors electronic benefits, and rising retention costs push firms to offer flexible rewards. As a result, corporate uptake lifts long-term growth for the Italy gift card and incentive card market.

Rising fraud & cybersecurity concerns

The European Payments Council cites escalating social-engineering attacks that force issuers to invest in AI-driven monitoring, inflating operating costs. Authorized push-payment scams exploit the irreversibility of gift cards, eroding consumer confidence. Upcoming EU Payment Services Regulation debates liability allocation, creating strategic uncertainty. Smaller fintechs must buy outsourced security tools, squeezing margins, while larger processors like Nexi pour hundreds of millions into cyber defense. Persistent media coverage of data breaches slows the onboarding of new users in the Italy gift card and incentive card industry.

Other drivers and restraints analyzed in the detailed report include:

1. Regulatory push for cashless transactions & tax incentives
2. Growing popularity of digital/contactless gift cards
3. Stringent AML/KYC compliance costs for issuers

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Closed-loop cards commanded 67.40% of the Italy gift card and incentive card market share in 2025 as retailers used them to lock customers into proprietary ecosystems. Their dominance secures data capture, boosts private-label margins, and funds tailored promotions. Carrefour's aim to raise private-label penetration to 40% of food sales by 2026 shows how gift cards steer traffic to in-house brands. Epipoli and Esselunga's loyalty partnership layers personalized offers on closed-loop wallets, broadening engagement.

Open-loop alternatives are projected to scale at a 8.94% CAGR through 2031, aided by BANCOMAT Pay's integration on Amazon Italia and Visa's token-push APIs. Nexi's EUR 220 million EIB loan underwrites multi-merchant acceptance upgrades, lowering per-transaction friction. Lower interchange caps let issuers price competitively, while 50% cross-border shopper penetration makes universal cards attractive. As open-loop utility broadens, they are on track to trim the closed-loop share in the Italy gift card and incentive card market size over time.

Physical cards retained 59.40% of the Italy gift card and incentive card market share in 2025, bolstered by cultural affinity for tangible presents and Italy's dense brick-and-mortar network. Eurocommercial Properties' 24 Italian shopping centers exemplify locations where impulse gift-card racks thrive.

Yet digital versions are leaping ahead at 12.43% CAGR, powered by Satispay in-app issuance, Visa push-to-wallet flows, and ESG sentiment that favors plastic-free gifting. Epipoli's MyGiftCardPlusGreen replaces PVC with virtual codes while aligning spend with eco-merchants. Retailers trim production and logistics costs, freeing capital for targeted promotions. Data-rich digital cards feed loyalty analytics, making them key to the future growth of the Italy gift card and incentive card market.

Complete Report Scope:

• By Card Type
  • Open-Loop Card
  • Closed-Loop Card
• By Format Type
  • Digital Card
  • Physical Card
• By Consumer Type
  • Individual (B2C)
  • Corporate (B2B)
• By Distribution Channel
  • Online
  • Offline
• By Industry of Application
  • Food and Beverages
  • Health, Wellness, and Beauty
  • Apparel, Footwear, and Accessories
  • Consumer Electronics
  • Other Industries

List of Companies Covered in this Report:

1. Coop Italia
2. Conad
3. Esselunga
4. Amazon.com
5. Apple
6. Carrefour
7. Bennet S.p.A.
8. Gruppo Eurospin
9. Lidl (Schwarz Gruppe)
10. Selex Gruppo Commerciale
11. CRAI
12. MediaWorld (MediaMarktSaturn)
13. Unieuro
14. Epipoli Group
15. Nexi Payments
16. PostePay
17. Edenred
18. Sodexo Benefits & Rewards
19. Giftmate
20. SIA (Nexi Group)

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support