Satispay: The Italian Fintech Leading the Mobile Payment Revolution

If you have never heard of Satispay, you should know that the fintech, of Italian origin and established in Luxembourg, is considered one of the leaders in mobile payment. Founded in 2013, the startup aims to simplify transactions for all everyday purchases, without having to use cash or credit cards.

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In a few words, the mobile application allows you to carry out transactions both with merchants and between individuals with a direct payment system, without traditional intermediaries and without the costs associated with bank card payments. Satispay also offers several other services such as transferring money between loved ones, organizing prize pools, donations, sending gifts and even paying bills. “Satispay stands out from other players in dematerialized payments by its independence from traditional credit and debit card networks, without an intermediary. Thanks to a direct connection from IBAN to IBAN which offers a high level of security,” notes the company.

In short, the system is intended to be practical, both for customers and merchants, as it does not require a bank card, just a smartphone equipped with the application and a bank account. The company, valued at no less than a billion euros, can in any case boast of having already attracted a community of four million users and 350,000 traders in Europe. A community destined to expand in the near future, as evidenced by the arrival of Satispay in Nancy.

Several businesses already offer Satispay

After Luxembourg in 2020, Metz and Thionville, the application continues its expansion in the Greater Region and, even more so, in the Grand Est with Nancy. Concretely, more than 200 merchants in Nancy already offer the payment solution. There are nearly 600 in Metz and 150 in Thionville. Satispay is thus targeting a community of more than 1,500 Lorraine merchant partners by the end of 2023. “In Nancy, Satispay relies on numerous partners and economic actors from Lorraine, such as the Café des Trolls, Le Collectif des Lunetiers , Cyra, Les Planches, Papa Fries, Pâtisserie Recouvreur, Ver Autres chose in Nancy, and targets major brands such as Bagelstein, Jeff de Bruges, KFC, Sushis Shop, Yellow Korner,” explains Satispay.

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All these businesses benefit from a particularly advantageous condition for them: transactions worth less than €10 are free of fees. Above €10, Satispay applies a fixed commission of 20 cents, regardless of the amount of the transaction. “After Italy, Luxembourg and the Côte d’Azur, we are happy to settle in Nancy, which becomes the anchor point for our establishment in the Grand Est in France. Our goal is for Satispay to become the number one payment method for Nancy residents,” declared Pascal Cotte, director of new markets and general manager of Satispay France.