Home > Business > Satispay Grows Its European Presence

A few months since the launch of its contactless mobile payment solution, the Italian startup now has more than 130 merchants in Luxembourg, and is aiming to grow its business in Europe.

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This April, in the midst of the health crisis, the Italian-based fintech Satispay launched its mobile payment solution in Luxembourg. “We are convinced that our application provides support to merchants and proves to be a solution adapted to the current conditions”, confided its co-founder and CEO Alberto Dalmasso, in an exclusive interview with Silicon Luxembourg. (See our article “Italian digital payment leader Satispay enters Luxembourg market“)

The idea, to allow confined consumers to pay for their purchases at a distance, in a simple and fast way, while supporting local commerce.

Since then, more than 130 merchants, including Auchan, have accepted the application for the payment of purchases. (See our article “Satispay partners with Auchan Luxembourg“)

Last June, the specialist in online financial transactions offered its “Operation Cashback 20%. » This program offers customers a 20% refund on their purchases, for a maximum of 20 euros per week. Initially scheduled to run for two months, the retroactive payment action has been extended until the end of September.

European ambitions

“Due to the enthusiasm it has generated, we have decided to extend the campaign until September 30, 2020,” the startup explained in a recent press release.

Surfing on these first results in the Grand Duchy, its founders aim to grow its activities in Europe, and are aiming to make it the most used financial instrument in Europe.

Created in Milan in 2013 and launched in 2015, Satispay offers a platform for electronic transactions, dedicated to the settlement of purchases, from a mobile application or a PC, with physical and online merchants and service providers, provided they have a payment terminal, cash register, PC, smartphone or tablet.

The app, which is “completely independent of any network”, is free of charge: there are no registration, reloading or money transfer fees for the customer. No registration costs either, nor monthly fees for the salesmen.

The only extra charge for the latter: a fixed commission of 20 eurocents, for payments over 10 euros. In addition, there are other percentage fees on purchases made from mobile e-commerce applications, or from traditional or connected ATMs.

At the end of 2018, Satispay moved to Luxembourg with its subsidiary Satispay Europe SA, which specializes in electronic payments.

The company has 80 employees, including 10 in Luxembourg. They are divided between the Kirchberg headquarters and its business development department hosted in the LHoFT.

According to its founders, the pan-European payment system has become Italy’s leading mobile point-of-sale payment system”, and has “approximately one million customers in more than 120,000 stores in Italy, Germany and Luxembourg, with an annual transaction volume of 323 million euros in 2019”.

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