The Italian startup Satispay enters into an agreement with Shopify and thus enters the universe of e-commerce.
It is a partnership between two of the most innovative players in online sales and payments. We will start from our country, but the forecasts are to reach a European dimension as soon as possible.
The goal is twofold: streamline the payment process for users of the Canadian platform, and launch Made in Italy companies in e-commerce.
In a nutshell: anyone who has opened an online store on Shopify will be able to accept payments through Satispay, a community that boasts more than 1 million and 800 thousand users worldwide.
These are two companies in excellent health: in 2020 in Italy, Satispay users carried out over 31.1 million transactions, for a total volume of payments of 585 million euros. In the same year, the stores on Shopify more than doubled.
Before delving into the agreement between Satispay and Shopify, let’s find out more about these two young and innovative realities.
Alberto Dalmasso, CEO of Satispay
What is Satispay
Satispay is an Italian app born in 2015 (but the company is from 2013) specialized in digital payments and money transfer via the Internet.
The application, available for all operating systems, allows you to make payments even without having credit or debit cards, but simply by connecting Satispay to a current account. With Satispay it is possible to pay in partner shops, exchange money, top up phones and pay bills.
To date, the app is used not only by the aforementioned 1 million and 800 thousand users, but also by around 180,000 merchants. However, of which only a small percentage (about 15,000) are online shops.
This is why the important axis created by Satispay with Shopify: the goal of the Italian platform is that of a more massive penetration into the world of sales through virtual shops.
Satispay’s attention towards online has already materialized with a recent move, namely the acquisition of AdvisorEat. It is a startup, also Italian, which through an app selects and recommends the best food and wine realities of our country.
What is Shopify
Shopify is a Canadian company that has developed an e-commerce platform capable of today having over 1.7 million stores in 175 countries. Sales generated by the platform in 2020 reached $ 277 billion.
Founded in 2006, Shopify is available in Italian in 2018. Its peculiarity is to allow the creation of virtual stores even to those who do not have any programming skills.
The objectives of the Satispay-Shopify partnership
Given the excellent moment of the two companies, the partnership really seems to be born under a lucky star.
On the one hand, the Italian startup, increasingly present in physical shops, wants to increase its share of virtual activities. On the other hand, the Canadian company intends to exploit an increasingly popular payment method for at least three reasons. The first is to simplify operations for users, the second is to encourage many small businesses to transfer a large part of their business to digital. Third but not least, to give a big boost to Italian fintech.
How the payments will work
Buying on Shopify through Satispay will be really simple. For PC payments, a QR code will appear that will be scanned with the Satispay app. For mobile purchases, simply enter the phone number and go to Satispay, where you will receive a notification confirming the payment.
Dario Brignone, co-founder and Cto of the Italian company, spoke on the Satispay-Shopify partnership. Who said: “In an ever-growing market, the integration with Shopify represents another important step in Satispay’s strategy. Which aims to accompany any type of merchant in the definition of omnichannel sales policies, also integrating in e-commerce that ease of use that has immediately conquered the physical channel and which – transferred online – helps to accelerate the closure of transactions, reducing the percentages of cart abandonment “.
For Shopify, Paolo Picazio, responsible for the development of the Italian market, spoke. “Shopify’s goal is to build the retail operating system for the future of commerce. We do this by making available to anyone, even those without technological knowledge and experience, an all-in-one platform that is easy to use to start, grow and manage a business. In Satispay we have found the ideal partner to accompany us on this journey. In addition to the Shopify payment solution, Shopify Payments, we are now giving our merchants another opportunity: we offer even more flexibility through the use of one of the most popular mobile payment platforms that can also build customer loyalty “.