Elevator Pitch
Creating a profile is as simple as downloading the Satispay app and signing up with your personal ID and bank account IBAN. Once activated, the user then sets the weekly balance that they wish to have available on the app. The Satispay account is topped up automatically every week, allowing users to top-up phone credit, pay in affiliated stores (online and offline), pay public administration services, exchange money with friends and set aside small amounts of money.
The service is completely free for consumers: no signup costs, top-up fees or commissions for money transfers. There are no sign-up costs or monthly fees for businesses either. The sole charge for merchants is a fixed commission of 0.20 € which is only applicable to payments greater than 10 € (all payments below 10 € are free).
Due to its competitive prices and ease of use, Satispay was immediately recognised as an efficient response to a concrete need, thus pushing its widespread acceptance both among private users and businesses.
Problem Solved
Lowering the high commissions that are typical of the electronic payment sector.
Solution / Technology
Satispay is a new payment network allowing people to send money from a smartphone app that is simple, secure and independent from any specific bank or credit/debit card network.
Competitive
Attractive offering & Growth Perspective
- Independent mobile payment network that doesn’t rely on credit/debit cards
- No costs for individuals and an extremely attractive pricing for merchants that is significantly cheaper than credit/debit cards
- Existing customer base of more than 48k merchants and more than 375k users, growing at a constantly increasing rate
Efficient and ready to scale set-up
- Amazon Web Service Hosting: no IT architectural limitation on scalability, expandable at marginal cost.
- EBA CH Connection: permission to perform SEPA transactions on any European bank account.
- E-money license & passporting.
High barriers to entry in the market
- Proprietary Payment Gateway connected to EBA clearing that guarantees efficiency and access to any European bank account
- Fully integrated with
- all Ingenico, PAX and Verifone POS;
- 90% of the cash registers available on the Italian market (50% in the European Market).
- Major e-commerce carts (Magento, Prestashop, WooCommerce)
- PagoPA (all Italian Public Administration payments),
- Mobile operators active in Italy
Active customer base
- 80% retention rate over 12 months.
- Average of 6 transactions/month per active consumers vs. 2.8 transactions via credit/debit cards (Italian Market).
- € 19 average transaction vs. € 50 average transaction for debit/credit cards.
- User friendly for merchants through a wide range of channels: Payment Terminals, Cash Registers, Desktop computers, Smartphones & Tablets.
Market Size
Currently: 357K consumers
Our goal for 2018: 800K consumers
Relevant Links
www.satispay.com
