THE BLOG

Fintech: Satispay establishes its presence in the Nice Côte d’Azur Metropolis

Satispay, the Italian fintech unicorn, expands its operations to the Nice Côte d’Azur Metropolis, offering an innovative and secure mobile payment solution for merchants and individuals. Its aim is to become the largest fintech in Europe.

Interview with Pascal Cotte, Director of New Markets at Satispay (pictured).

Can you introduce us to Satispay?

Satispay is an Italian fintech unicorn with the ambition of becoming the largest company in this sector in Europe. We offer merchants and individuals an innovative mobile payment solution.

The company was founded in Italy (Cuneo) in 2013 by two childhood friends, Alberto Dalmasso and Dario Brignone, later joined by Samuele Pinta. From its inception, Satispay’s objective has been to simplify transactions for small everyday purchases, eliminating the need for cash or credit cards.

Officially launched in 2015, our platform enables users to carry out transactions both with merchants and among individuals. Our concept quickly gained traction in Italy, giving rise to a new payment culture.

With Satispay, we have developed a direct payment system between consumers and merchants, eliminating the need for traditional intermediaries and the fees associated with card transactions. We have been granted an electronic money institution license as part of our operations.

To date, nearly 4 million users have downloaded and are using our application, with the trust of 300,000 merchants in Italy, Luxembourg, Germany, and France.

What are the specific features of your solution?

Satispay is an application that aims to be fast, simple, efficient, transparent, and secure.

With the aim of simplifying everyday financial transactions to improve people’s lives, we offer users in-store payments, money sharing among friends, organizing group collections, making donations, sending gifts, and even paying bills or toll fees in Italy.

One of the main characteristics of Satispay is its independence from traditional credit and debit card networks. Our payment system is directly connected to the user’s and merchant’s bank account, while offering a high level of security (advanced encryption) for transactions made by our customers, as well as for their personal data.

Furthermore, we have a localized approach to our marketing initiatives. Indeed, our messages adapt to the city where we are deployed. As an example, since our initial deployment on the French Riviera a few months ago, we have created specific campaigns for the Lemon Festival in Menton.

What are the advantages for individuals and merchants?

For individuals, Satispay simplifies their daily lives by consolidating all their financial transactions in one place, avoiding the need to juggle between different applications and platforms. They can easily manage their payments, make transfers, and keep track of their expenses through Satispay.

Recently, users in the Nice region have been benefiting from a cashback promotion, where they receive a credit back on their purchases. The cashback offer amounts to 30% of the total purchase amount made on Fridays, Saturdays, and Sundays, up to a maximum of €100 in expenses over the weekend. This amount is directly credited to the user’s Satispay account, providing tangible and incentivizing benefits for its usage.

For merchants, Satispay is a true partner in their marketing efforts and financial performance. On the financial side, purchases below 10 euros are exempt from transaction fees, and for purchases above 10 euros, we apply a fixed commission of 20 cents, regardless of the transaction amount.

The dedicated application for professionals, Satispay Business, can be downloaded on a mobile phone, tablet, or computer and can be integrated into the merchant’s cash register software. Payments can also be made remotely, which is particularly useful for services like click and collect.

In terms of marketing, we contribute to strengthening the sense of proximity and belonging to a community. When someone makes a payment with Satispay, the merchant sees their first name and photo, creating a personal connection and contributing to strengthening the sense of community.

This unique approach creates a more engaging shopping experience for customers and increases their loyalty to businesses that use Satispay.

Why did you choose the Nice Côte d’Azur Metropolis?

Nice and the Côte d’Azur were among the regions where we considered a long-term commitment, primarily due to the high concentration of merchants in this area.

Satispay has identified the Nice Côte d’Azur Metropolis as a strategic area and a key link in its expansion in France.

Our presence in the Nice Côte d’Azur Metropolis can be primarily attributed to two factors.

On one hand, its proximity to the Italian community, and on the other hand, its openness to transformations and technologies.

Our team in Nice, consisting of 12 permanent employees, plays a major role in establishing our local presence. These professionals hold positions in supervision, management, field business development, merchant retention, and marketing.

Our ambition is to increase the number of affiliated merchants in the region from 600 to 2,500 by the end of the year, demonstrating our commitment to capitalizing on the economic and commercial potential of Nice.

Nice is one of the regions where we envision a long-term establishment, recognizing the potential it offers.

How did Invest in Côte d’Azur support you?

We had the opportunity to exchange with Cyril Dary from Invest in Côte d’Azur to learn about the various support programs implemented in the region, as well as dedicated discussions on innovation and research and development.

This collaboration with economic actors like Invest in Côte d’Azur proves to be strategic for our expansion, allowing us to accelerate our growth, align with strong networks, gain greater visibility in the media, and access networking opportunities.

What are your development projects?

We plan to continue our expansion in Europe after capturing 75% of the Italian market. After our initial international expansion to Luxembourg in 2020 and France in 2022, we plan to extend our presence to other countries. Our vision? Simplifying payments to enhance everyone’s lives. Our goal is to become the essential application for everyday purchases and financial transactions.

In Nice, we are working to strengthen our network of merchants and are considering geographical expansions in the South region as well as partnerships with major retailers. Already, we have the trust of 600 merchants in Nice and 200 between Nice and Menton.

Furthermore, we are currently in the recruitment phase. Recruitment is one of the strategies employed by the company to support its growth ambitions. Currently, we have 25 employees in France, half of whom are based in Nice, and we plan to have 45 employees within three months.

In the coming days, residents of the Côte d’Azur will also be able to see our local advertising campaign.