How Satispay works: a guide to the Italian payment app

Since its inception, Satispay has emerged not as a simple online payment gateway, but as a true Italian revolution. 

If you've ever wondered how Satispay works and why so many shops, friends and websites – including ours, Cuborio.com – are integrating it, you've come to the right place.

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The digital payment revolution made in Italy

Founded in 2013 in Cuneo from an idea by Alberto Dalmasso, Dario Brignone and Samuele Pinta, Satispay has a clear mission: to make everyday payments easier by eliminating the high fees that burden small merchants and individuals. Unlike international giants, Satispay was designed for the Italian market, with a particular focus on the needs of small and medium-sized businesses and people's social lives. Its success is evidenced by a community of millions of users and hundreds of thousands of participating businesses, making it a true Italian fintech phenomenon.
Not just a simple banking app, but an autonomous circuit

The fundamental difference that often causes confusion is this: Satispay is not an app that simply relies on your credit or debit card. It is an independent payment circuit authorised by the Bank of Italy.

Think of it this way: instead of withdrawing funds directly from your current account for each transaction (as PayPal or Apple Pay do when linked to a card), you top up a 'virtual wallet' within Satispay. Subsequent payments are made within this closed circuit, transferring funds from your wallet to the recipient's. This mechanism is the secret that allows it to have very low operating costs and offer advantageous commissions, especially for merchants.

How Satispay works: the underlying mechanism

Let's get to the heart of the matter: the technical and practical functioning of Satispay.

When you register, Satispay creates a virtual account for you, a secure digital wallet. This account has its own unique IBAN, linked to your mobile number. The balance in this account is the money you can spend immediately in shops, online or send to friends. It is not a bank account (so it does not allow you to write cheques or have an overdraft, for example), but it is a regulated and secure electronic payment tool.

Top-up and balance: how to fund the app

In order to use Satispay, you must first top up your digital wallet. You have several options:

1. Bank transfer (free and recommended): by linking your bank account to the app, you can make a transfer to your Satispay account's IBAN. This is the cheapest method (completely free), although the money is not available immediately (usually within one working day).
2. Debit or Credit Card (Paid): You can top up instantly using your card. Satispay applies a small fee (currently 1% of the amount topped up, with a minimum of £0.20). Convenient for its immediacy, but less convenient for large amounts.
3. At Network Points of Sale (Payment Required): Many affiliated tobacconists, bars and newsagents allow you to top up your Satispay account with cash. A small fee is also charged for this service.

The payment flow: what happens when you pay?

The process is incredibly fast and secure:

1. Start: In the shop, open the app and scan the merchant's QR code or enter their telephone number.
2. Authorisation: Enter your biometric or numeric PIN to authorise the payment.
3. Transfer: Satispay processes the request, deducts the amount from your wallet balance and credits it (almost instantly) to the merchant's wallet.
4. Confirmation: Both you and the retailer receive a push notification confirming that the payment has been made.

All this happens in a matter of seconds, thanks to Satispay's proprietary and independent infrastructure.

How to get started: set up your Satispay account

Now let's get started. Here's how to set up your account in just a few minutes.

Download and registration: step by step

1. Download: Download the "Satispay" app from the Android Play Store or the iOS App Store.
2. Telephone number: Open the app and enter your Italian mobile number. This number will be your main identifier.
3. Verification code: You will receive an SMS with a confirmation code. Enter it in the app.
4. Complete your profile: Enter your personal details (first name, surname, email address, date of birth) as they appear on your identity card.

Identity verification (KYC): why it is necessary and how to do it

European anti-money laundering legislation (KYC - Know Your Customer) requires all financial services to verify the identity of their customers. It is a standard procedure that ensures security for everyone.
Satispay will guide you through the process: you will need to take a photo of the front and back of a valid identity document (ID card, passport or driving licence) and a selfie. Verification is usually very quick (it can take from a few minutes to a few hours) and is carried out automatically and securely.

First login and PIN setup

Once your account has been verified, you can log in and set a 5-digit PIN code. This PIN is essential: you will need it to authorise each payment. Choose a code that is not obvious and do not share it with anyone. On many smartphones, you can also enable biometric authentication (fingerprint or facial recognition) for even faster and more secure access.

Key features: what you can do with Satispay

Now that your account is ready, let's explore the full potential of Satispay.

Paying in shops: the QR code and mobile number

Paying at a restaurant, bakery or hairdresser is intuitive:

1. Method 1 (QR code): Open the app, tap "Pay" and scan the QR code displayed by the shop. Enter the amount, confirm with your PIN and you're done.
2. Method 2 (Mobile number): If there is no QR code, you can manually enter the mobile number provided by the shopkeeper (usually displayed next to the till).

Ready to transform your online presence? Cuborio makes it easy to migrate your existing e-commerce site thanks to the flexibility of the most powerful and flexible platform on the market, including split payments.

Sending and requesting money between individuals (P2P)

This is perhaps the most popular feature. Need to split the dinner bill? Did a friend do you a favour and you want to repay them? Open the app, go to the "Send" section and:

• Send Money: Select the contact from your address book (which is integrated into the app) who already has Satispay, enter the amount and a reason, and send. They will receive the money instantly.
• Request Money: Have you advanced someone money? Use the "Request" feature to send a polite payment reminder to your friend, who can accept and pay you with a tap.

Online payments: e-commerce and websites

Satispay is not just for physical shops. More and more e-commerce platforms, such as Cuborio.com, are integrating it as a payment method. During checkout, select "Pay with Satispay". You will be redirected to the app (or asked to enter your phone number) to authorise the payment with your PIN. It's completely secure because you never have to enter your credit card details on the website.

Satispay Business: how it works for merchants

For a shop, joining Satispay is advantageous. Simply download the Business app, complete the registration as a business and link your own current account where you want to receive payments. Customer payments are credited in real time or the next day. The main advantage? The fees are very low (a very small fixed percentage, with no monthly fee), making it ideal for small payments where traditional credit card fees are prohibitive.

Costs and fees: how much does it really cost to use Satispay?

One of the great advantages of Satispay is its transparency and affordability.

The 'free for all' model for private individuals

For private users, Satispay is essentially free:

• No registration fees or monthly fees.
• Free top-up transfers.
• Free in-store payments.
• Free money transfers and requests to friends.

Card top-up fees

The only cost for private individuals is the commission charged for using a credit/debit card to top up (currently 1%, min. £0.20). This cost can easily be avoided by using the free bank transfer option.

Merchant fees

For businesses, Satispay applies a commission on transactions received. However, this is significantly lower than for purchases made with traditional credit/debit cards (Visa, Mastercard). This makes Satispay an ideal tool for small merchants who want to reduce the costs of digital payments. The exact fees are available on the Satispay Business website.

Security and privacy: are your money and data safe?

Security is a top priority for Satispay, which is a payment institution authorised and supervised by the Bank of Italy.

Data protection and GDPR regulations

Satispay processes your personal data in strict compliance with the European GDPR Regulation. The data is used exclusively to provide the service and is not sold to third parties for marketing purposes.

Technical measures: encryption and two-factor authentication

All communications between your app and Satispay servers are protected by robust encryption protocols. Access to the app is protected by your 5-digit PIN and, where supported, by fingerprint or facial recognition. Every transaction requires this two-factor authentication (something you know – your PIN – and something you have – your phone), making fraudulent use extremely difficult.

What to do if you lose your phone or suspect fraud

If you lose your phone or suspect fraudulent activity, you can take immediate action in two ways:

1. Block via the web: Log in to the Satispay website from another device and block your account in the security settings.
2. Customer service: Contact Satispay customer support immediately by email or phone. Since access is restricted to your PIN (which only you know) and your phone, your funds are safe. Furthermore, without identity verification, no one can register a new account with your number.

Advantages and disadvantages: an objective assessment

Like any tool, Satispay has strengths and some limitations to consider.

Pros:

• Free for individuals: The business model is very advantageous for the end user.
• Very low fees for shops: It revolutionises the world of small payments for merchants.
• Easy and intuitive to use: The interface is minimalist and user-friendly.
• Supports the Italian economy: It is an example of Italian technological excellence.
• Widespread in Italy: You can now find it everywhere from big cities to small villages.

Cons (or limitations):

• Can be used almost exclusively in Italy: It is not designed for extensive use abroad.
• Needs to be topped up in advance: Requires a bit of planning, it is not a direct 'debit' from your account.
• Not suitable for very high expenses: Its operating limits make it perfect for micro-spending, not for buying a car.
• Dependence on the network: It only works if both you and the recipient have Satispay.

Frequently Asked Questions (FAQ)

What are the operating limits?

The limits vary depending on the level of account verification. For a fully verified account, the maximum balance limit is generally £5,000, with monthly transaction limits of up to £10,000. These are more than sufficient for all daily expenses.

How long does it take to top up via bank transfer?

A bank transfer to your Satispay account typically takes 1 working day to be credited. Top-ups by card are immediate.

How can I withdraw the balance from my Satispay account?

You can withdraw your balance at any time by making a free transfer from your Satispay account to your bank account. The transaction is free of charge and takes the same amount of time as a normal bank transfer.

What happens if I accidentally pay the wrong person?

If the recipient has not yet accepted the payment (in the case of a "money request"), you can cancel it yourself. If, on the other hand, you have sent money directly to the wrong number, contact Satispay customer support immediately. They will try to help you resolve the situation by contacting the recipient you sent the money to by mistake.

Does Satispay replace my bank account?

Absolutely not. Satispay is a complementary digital wallet designed for everyday, instant payments. It does not replace a bank account, which is necessary to top it up and offers many other services (direct debits, long-term deposits, credit lines, etc.).

Is Satispay the right choice for you?

Satispay is not just a payment app: it is a convenient, economical and smart financial habit. It is the ideal tool for those who want to get rid of cash for small daily expenses, for those who often split expenses with friends and for those who want to support small retailers by offering them a way to pay at reduced costs.

Now that you know how this payment method works, all you have to do is try it. Download it, verify your account, and the next time you shop online or go to your favourite café, choose to pay with Satispay. You'll discover for yourself how simple and advantageous it is.

Satispay simplifies payments for your customers. You simplify the management of your online shop. Create your e-commerce site with Cuborio and focus on growing your business; we'll take care of the technology.