For couples living together, relatives or groups of friends, entering a 27-character IBAN every time someone needs to reimburse a modest expense—such as a tank of fuel or their share of a dinner—is undeniably inconvenient.

A useful alternative is offered by peer-to-peer (P2P) payments and digital wallets. These apps allow users to send money in real time using only a phone number, email address or username. Every transaction is still recorded, verifiable and linked to an actual bank account or payment card.

For tax purposes, these methods are just as legitimate as bank transfers. Receipts, messages, invoices and sales slips should remain consistent with the reason for each payment. Compared with cash, digital payment tools can be preferable because they leave an electronic trail that may protect both the sender and the recipient if the transaction is reviewed by the Italian Revenue Agency.