Satispay Rolls Out Loyalty Program for +5M Users Across 400K Merchants
Hey Payments Fanatic!
Satispay has introduced Satispay Points, a loyalty program designed to reward users while driving more transactions for local businesses. Set to roll out initially across Italy, the initiative provides a simple way for consumers to earn discounts on their purchases.
Founded in 2013, Satispay is a Milan-based FinTech unicorn valued at €1.2 billion, offering cost-effective mobile payments and financial services across its home country, France, and Luxembourg.
For every euro spent using the Satispay app, customers will be able to earn points that can be redeemed for discounts. There's something called "multipliers" that accelerate point accumulation, making it even easier to save while shopping. Users simply need to keep making purchases as usual—no extra steps or enrollment required.
Merchants in the network also benefit, primarily through increased customer engagement at no additional cost.
The program aligns with Satispay’s long-standing mission to support local economies, with the FinTech itself investing over €10 million annually to sustain these incentives.
“In recent months, we have experimented with a couple of cities with this loyalty program, and the transactions of the shops have increased by 25%,” said Co-Founder & CEO Alberto Dalmasso.
With 400,000 participating merchants, Satispay Points integrates seamlessly into everyday transactions—whether shopping in-store, buying gift cards, or using services within the app.
Read more global Payments industry updates below 👇 and I'll be back on Monday!
Cheers,
Transform Your Banking Experience! Subscribe to my Daily Banking Newsletter for the latest trends and updates delivered daily to your inbox. Embrace the Future of Banking—Never miss an update!
INSIGHTS
🇺🇸 The 2024 Top 10 Merchant Acquirers in the US
Together, they processed $10.6 trillion in payment card volume👇
PAYMENTS NEWS
🌎 Streamlining Global Payment Experiences: DEUNA is Now Live with Click to Pay. In partnership with Mastercard, DEUNA allows businesses to integrate this payment method in just a few clicks. Multiple merchants are already harnessing its potential to boost conversion rates in industries such as airlines, telecommunications, and entertainment.
🇬🇧 Wise shares up after reporting growth for the financial year. The company reported 22% growth in cross border volumes and a 16% surge in underlying income to £1.36bn. Also announced it would expand its programme of share purchases into its employee benefit trust by acquiring historical stock-based compensation grants.
🇸🇬 Project Nexus partners incorporate Nexus Global Payments to run the cross-border payment scheme and search for technical operator commenced. Project Nexus is designed to standardise the way domestic instant payment systems (IPS) connect to one another.
🇺🇸 Verifone receives $235m equity investment and successfully extends debt maturities. This announcement comes during an exciting period for Verifone, highlighted by several strategic advancements: the launch of several new payment devices, including the new Verifone Victa product family, and an expansion of the partner channel with both existing and new clients.
🌍 Nayax acquires POS payment solutions provider Inepro Pay in the Netherlands. Inepro Pay will now become a full-service Nayax office in the Netherlands, joining its existing offices in the UK and Germany. Nayax says the deal will bring the company "closer to its customers" in Europe.
🇬🇧 ClearBank to provide GBP clearing services to Kraken. ClearBank will provide Kraken’s clients seamless on and off ramping, as well as the additional security due to its deposits being held at the Bank of England. Also Numeral has been certified as a ClearBank Technology Partner for Live API. Depending on the connectivity method, security of the payment operations will be ensured by one or more of the following: API Keys, Certificates, Digital signature.
🇬🇧 UK paytech Judopay names Anant Patel as new CEO. According to Judopay, Patel has been tasked with "strengthening synergies with Fabrick" and expanding the company's payment solutions into "new international key markets". This includes enhancing its mobile-centric payment platform, handling more than 60 million transactions each year.
🇦🇪 Fuse raises $6.6M to fix a payment problem for companies expanding to MENA. Fuse plans to use the fresh capital to grow its team, secure additional regional licenses, and expand its product suite beyond the UAE. Continue reading
🇺🇸 Plaid completes new funding round of $575mn but finds valuation cut in half to $61bn. Most of the proceeds from the fundraising will go towards paying the tax bill for employees whose restricted stock units are being converted to common stock in the company.
🇧🇷 Payments industry says Pix creates “tremendous imbalance” and defends separate management from the Central Bank. The payments sector and experts believe that the governance structure of Pix could undergo changes by separating regulation from operation.
🇺🇸 Yavrio connects with five largest U.S. banks, Wells Fargo, J.P. Morgan, Citi Bank, Bank of America and U.S Bank, and introduces advanced embedded payments. This connects businesses to the core of financial operations, unlocking real-time banking data, access to essential banking infrastructure and multiple payment rails.
🇬🇧 Pizza by Bank: TrueLayer announces Papa Johns partnership to introduce Pay by Bank, a seamless and secure payment method that enables customers to pay directly from their bank accounts. This not only reduces fraud risk but also offers a faster, more secure way to pay.
🇬🇧 Jim Hart brings over two decades of experience to CISO Role at Paymentology. Hart will be instrumental in strengthening Paymentology's security standards, he also brings over 25 years of IT security experience to the role. Read more
🇳🇬 JP Morgan sets to move into merchant banking in Nigeria. This move promises to bring world-class expertise and innovative financial solutions to Nigeria’s burgeoning corporate and institutional clients. Keep reading
🇮🇳 Scapia raises $40 Mn in Series B led by Peak XV. The funding will enable the company to strengthen its team, enhance its product offerings, harness the power of AI and accelerate its ambitious growth plans, Scapia said in a press release. Read more
🌍 B2B payments specialist Aria integrates Mangopay to power international growth. Mangopay’s wallet infrastructure and virtual IBANs will streamline the management of GBP and USD funds for B2B deferred financing solutions. Continue reading
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()