Integrating identity and payments is the next frontier

However, the real crux of the transition is not technological, but ecosystemic.

The challenge is not simply to replace or upgrade an infrastructure, but to build a new balance between technologies, operators and citizens. For the model to succeed, it is essential to adopt an approach based on cohabitation and interoperability between Spid and IT Wallet, avoiding abrupt breaks or migrations imposed from above. The goal must be a seamless, simple and secure user experience, capable of preserving the trust built up over the years and, at the same time, paving the way for new services and use cases. Trust, in digital as in real life, is not imposed: it is built step by step, with consistency, transparency and perceived value.

There are three fundamental conditions for this new model to really work.

The first concerns the coexistence of public and private. No infrastructure can thrive without a solid collaboration between public and private actors. What is needed is an ecosystem of digital attributes in which the private sector contributes to generating value and innovation, alongside the regulatory and guarantee role of the state. In Germany, for example, continuous discussion with market stakeholders led a first bank to develop its own wallet.

The second condition is economic sustainability. Digital identity cannot remain a fixed cost for operators. It is necessary to introduce a transactional model, based on a marketplace of attributes that remunerates those who generate trust and security, while stimulating competition and quality of service.

The third condition concerns the user experience and incentives. Key conditions include the ability to strike the right balance between compliance and usability, i.e. transactions that are simple and intuitive but very robust in terms of fraud resistance. To stimulate Wallet adoption we also need concrete use cases that go beyond simple access to public services: digital signatures, bank on-boarding, integrated payments, health tickets, cultural subscriptions. It is through these applications that the user perceives the real usefulness of the tool.

In this perspective, the integration of identity and payment represents the next frontier. Linking identification, consent and payment in a single flow can offer that 'Apple or Google-like' user experience that is often evoked but rarely realised in Europe.

To succeed, however, Italy must believe in its ecosystem and the ability of its companies to innovate. The most advanced experiences in the field of digital identity - such as BankID in the Nordic countries or itsme in Belgium - were born from public-private partnerships, supported by a shared industrial vision and a systemic approach. This is the direction also indicated by Europe and reiterated by Mario Draghi in his recent report: building competitiveness and innovation through cooperation, enhancing the role of European technology companies and creating an integrated and secure digital market.

Italy is today well positioned in the European digital identity game, thanks to the work done by the government and the leadership demonstrated by our private companies in the world of digital transaction management. To consolidate and strengthen this role, it is essential to overcome any mistrust of private innovators and continue to build value together, respecting roles but with a common vision.

Ceo Namirial