What it is and how Satispay works

Launched in 2013, Satispay allows you to pay with your smartphone in tens of thousands of affiliated stores.┬áHere’s how you sign up and how it works

Of course, maybe the various Google Pay, Apple Pay and Samsung Pay will enjoy greater fame, but at our latitudes the cashless payment service that seems to have the greatest chance of revolutionizing the habits of Italians is Satispay. If the name is not new to you it is because you have seen it imprinted in one of the many stickers that now stand out on the entrance doors and on the windows of thousands of shops and restaurants throughout Italy. But what exactly is Satispay and what can it do? Let’s find out together.

What is Satispay

As mentioned, Satispay is a cashless and digital payment service that allows you to pay or send money to your contacts without the need for credit cards or to top up at physical branches. Born in Italy in 2013, today it has several tens of thousands of partner shops and a rapidly growing number of users (in the first half of 2019 there are over half a million). Furthermore, in a recent communication to the members, the management of the company has made it known that it wants to expand its presence also in Europe.

How Satispay works

The reasons for Satispay’s success must be sought mainly in the way the app works. Extremely easy to use, Satispay does not need NFC or RFID connectivity to make payments or send money to friends. All that is needed to pay with Satispay is a sufficiently stable connection to the Internet with which to connect to your personal account and identify the business to which to send the payment. Within a few seconds the transaction will be processed by Satispay’s systems and the money credited to the merchant’s account.

An advantage not just, compared to other cashless payment systems like Google Pay or Apple Pay. In this way, in fact, Satispay can be installed and used even on old Android or iPhone smartphones without too many problems.

Instead, the money is taken directly from the user’s current account, so there is no need to link it to a credit or debit card. During registration, the user sets the maximum spending limit : starting from a minimum of 25 euros up to a maximum of 200 euros, which can be used both to pay and to send money to one of the friends registered on the platform. At the end of the week Satispay systems will verify the “residual credit” and, if it is lower than the initially established amount, it will go to replenish the funds by withdrawing directly from the current account linked to your profile.

How to register for Satispay

Similarly, the Satispay registration procedure is as simple as possible. The entire process will take a few minutes, while it will be necessary to wait three to five working days for the account to be activated. Satispay, in fact, will check that all the data correspond and, thanks to the scanning of the identity document, will verify that the person who requested the opening of the account is “real”. Stringent but necessary measures, to guarantee the safety of users and prevent the platform from being used for illicit purposes.

Registration for Satispay can be done either from the web portal or directly from the app. You will be asked to enter your personal data, the IBAN of the current account from which to withdraw the sums for payments, the scanning of an identity document and a photo taken on the spot with the front camera of the smartphone or with the computer webcam. Once this information is obtained, Satispay will check that everything matches and, in the case of a positive check, activate the account. Otherwise, you will be asked to provide additional information. Furthermore, the user will also have to choose a five-digit PIN to be entered each time the app is opened: an additional form of account protection, so as to prevent any prankster send our weekly budget to your account.

Once the account has been created and activated, you can begin to take full advantage of the features and services offered by Satispay. The principal, of course, is linked to payments to the contracted commercial activities but is not the only one. In addition to being able to send money to friends, you can top up your phone; make payments to the public administration with the PagoPA system; pay the car tax; pay postal bills and create “gift bags” for special occasions.

How to make payments with Satispay

Paying the bill for the restaurant or bar with Satispay is quite simple. Launch the app, enter the PIN selected (or scan the fingerprint) and wait a few moments for the interface to load. The app will open immediately on the Shops tab, where you will find the list of affiliated commercial activities nearby. Thanks to the geolocation, in fact, Satispay is able to identify our position and thus show the cards of the affiliated points of sale present a few meters from us.

Once you find the name of the business in which we find ourselves, just press on the name, insert the amount to pay and press Send. Within a few moments, the merchant will receive the payment notification, which he can accept or refuse (in the case, for example, that there has been some error with the amount). Once accepted, Satispay will transfer the money from your account to the merchant’s, thus concluding the transaction.

To encourage the use of the app, some Satispay stores allow you to earn money by making purchases. This is thanks to the cashback system, which returns a percentage of the amount spent and allows it to be accumulated in its own account (or destined for a virtual piggy bank to be created within Satispay).