There is an opportunity in Italy to turn 30 million smartphones into acceptance points for contactless payments, which could help reduce the high percentage of cash-only transactions. Currently over 90% of transactions in Italy are done with cash or check. With 1.5 million potential mobile point-of-sale devices, this new technology could help the over 8.8 million Italian businesses better accept electronic payments, especially the growing number of young entrepreneurs with active value-added tax codes. However, any mobile payment system would need to ensure user security and privacy to gain widespread adoption.