What is it and how does the Satispay app work

With Satispay you can pay at restaurants and stores, pass money to a friend and set a budget, as well as get interesting discounts.

Payment methods have changed radically in recent years, thanks to the continuous technological evolution. On the national scene, a platform that has made a lot of talk is definitely Satispay which allows you to make payments in restaurants, bars and stores through your smartphone. This is a real revolution, but if you are interested in finding out more about Satispay, first it is important to know how it works, if there are costs and what you can pay through the platform. So, in this article you'll find all the information you need to pay with this service.

What is it and when was Satispay born

Founded in 2013, Satispay is the Italian company that manages the digital payment service of the same name, through its own app. Satispay is a smartphone payment system that, through the IBAN code and personal phone number, allows you to make money transactions, directly from your device.

Satispay has literally revolutionized the world of payments, as now you can pay restaurants, stores, but also bills and utilities, without having to use cash or cards. It's a practical and intuitive way to manage your money, which also allows you to transfer money to friends and check your daily outgoings.

How Satispay Works

The first thing you need to do to use Satispay is to download the free app, available for both iOS and Android. The app works on all devices, in fact no NFC chip is required. Then you proceed to sign up and create your personal profile. In this step you will have to enter your details like phone number and email. You will then have to confirm phone number with the code that you receive via SMS, choose a personal PIN and confirm your selection via a code that you will receive via email.

After performing all these procedures, you will have to activate your account by entering your IBAN, an ID and your tax code. All these steps are necessary to create a secure account, so remember to select a PIN and not to disclose it publicly. After entering these data, you can customize your private area by entering your name, surname and a photo of yourself. To ensure that the activation of the account goes well, remember to take a photo of your ID in which all the data is clearly read: within a few days you can start shopping with the app.

The basic rule for the functioning of this payment app is the definition of a maximum budget on a weekly basis: this is the maximum amount you can spend through the app in a week.

The first time you set the budget, Satispay will withdraw this amount from the connected bank account, but the subsequent transfers between account and app will depend exclusively on the movements actually made. Every week Satispay aligns the availability with the set budget.

The interesting thing is that once you reach the maximum weekly threshold you cannot recharge your profile, but you have to wait until the end of the week to have the automatic recharge. On the other hand, you can change the budget at any time, because it may happen that you start with a lower threshold and later need to increase it. If you set the budget to zero, at the end of the week all the remaining credit left on the app will be automatically transferred to your current account.

But how can you pay a store or a restaurant with Satispay? Simple, just search for the name of the store among those available nearby, select it, manually enter the amount and send the money: the transfer is immediate. Alternatively, you can use the QR code of the store itself, which is usually located on the cash register.

If, on the other hand, you want to transfer money to a friend, simply select a contact in your address book, enter the amount and send.

Finally, Satispay can also be used to pay utility bills, car registration fees, fines and some other utilities: just follow the instructions provided by the app, and very often it is enough to frame the bill with the camera and the data will be read automatically.

Satispay: costs and cashback

A question that users often ask themselves is about the costs of the app. Downloading the app, signing up and connecting your bank account are totally free operations. For users, payment at stores, restaurants and transferring money between individuals is free. On the other hand, payments for utility bills, car and motorcycle stamps have a commission of 1 euro.

Commissions arise for commercial activities, so for business customers: money transfers under 10 euro are free, so Satispay is also very advantageous for companies. Instead, a fixed commission of 0.20 cents is applied for payments over 10 euros.

The thing that particularly distinguishes the Satispay service is cashback: discounts applied by businesses, only for those who pay with the app. Users will have to pay the full amount, but the amount of cashback will be credited to them immediately after the transaction. In this way you want to encourage the use and loyalty of the service.