ROMA – The Italian Banking Association (ABI), voice of our banks, formalizes his staunchest opposition to the PagoPA operation.
As anticipated from Repubblica, the Italian banks oppose the Meloni government’s plan to transfer ownership of PagoPA to the State Mint (51%) and above all to Poste (the remaining 49%). Property which today belongs to the Treasury, 100%.
In a memory which is deposited in Parliament, the ABI now explains that the PagoPA operation – as outlined in a government decree of 2 March 2024 – “risks creating a competitive imbalance” and “harming competitive equality”. Let’s see why.
Service Providers
Meanwhile, the ABI brief describes PagoPA. This platform allows citizens and businesses to make payments to public bodies. And its transactions were 386 million in 2023, a record figure.
To pay, citizens and businesses rely on entities that offer this payment service: these are the PSPs that join PagoPA.
And among these PSPs – “which operate in competition with each other” – there are both banks (400 in total), both the Post Office and the satellite companies of the Post Office:
– PostePay, wholly owned by Poste Italiane;
– and LISPay, wholly controlled by PostePay.
Joint control
Not, Poste is preparing to play two roles in comedy:
– on the one hand, you will be able to dictate the law in PagoPA, especially if the government were to assign “joint control” of the platform to you and the Mint;
– at the same time, Poste will offer (to citizens and businesses) payment services both in person (like Poste) and through PostePay and LISPay.
It is normal to suspect, in such a context, that PostePay and LISPay can obtain preferential treatment when operating in PagoPAbeing their parent company (Poste) a 49% shareholder of the platform.
It’s normal to suspect that Poste can impose harsher tariffs and conditions on bankswhen they ask to use PagoPA.
Insurance, gas and electricity
The ABI also fears that Poste – once PagoPA has been conquered – will acquire detailed information on bank customers. Based on this information, Poste would have an easy time selling its services to these customers (from insurance to the supply of gas and electricity).
The ABI also fears that public bodies, in light of the new role in PagoPA, can offer their “Treasury service” to Poste.
Finally, the Abi memory recalls that citizens will soon have their own “electronic wallet”. Inside, it will have:
– our driving license and health card;
– but also channels for paying for public services.
Now this “electronic wallet” – strategic and innovative – it will also be in the hands of PagoPA and, therefore, of Poste (which will become a 49% shareholder of the platform).