Cashback won’t go away completely. If the government payment plan, which was due to run until June 2022, is suspended by the Draghi government, Satispay, a platform already in the project control room, has decided to move forward with the program for another 6 months with its own investment between 20 and 30 million euros. There is no criticism of the government – confirms CEO Alberto Dalmaso – which is brilliantly managing a difficult situation but we have seen that the program is working, transactions have increased and we will get to move one billion euros at the end of the year.
The boom in digital payments
Due to the boom, the payments app decided to continue betting. As much as possible, we will ensure that the work done is not lost, investing our capital directly to support incentives, convinced that it is the right tool to change payment habits and make Italy a digital economy as well, comments Dalmasso. In the first half of 2021, Satispay recorded a number of 25 million deals, a growth of nearly 210% compared to the same period in 2020, a volume of about 340 million euros, an increase of 127%. The number of merchants affiliated with the network is also increasing, which, despite the difficulties of the past year, recorded a growth of 35% compared to June 2020.
How it works
The payment formula is the same as for the state cashback: there is a possibility Accumulate up to €150 in six months with a 10% refund on in-store transactions with a maximum of €2 per transaction But this time in tranches, up to a maximum of 25 euros per month.
Who is this initiative for?
The idea also comes from the desire to find new clients. Not by chance The initiative is intended for those who signed up for the service in July. For old customers, on the other hand, other initiatives such as Cashback Friday and Cashback are designed in supermarkets every Tuesday. Dalmasso recalls that there are approximately 10 million people who have signed up for the state’s cashback program, so there is still a large segment of the audience that Satispay, with 1.8 million users to date, can intercept. We have seen the results – explains Dalmasso – cashback acts as a catalyst for electronic payments and to combat tax evasion, and if we make the population accustomed to using digital tools, we will have a country with more skills and thus better react to crises. The company’s ambition is to intercept an additional 200,000 customers by the end of the year.