Satispay, a mobile payment network, has partnered with Stripe to simplify online shopping for Italian merchants and consumers by removing digital transaction barriers.
Under the agreement, select Italian online merchants using Stripe can now accept payments through Satispay, joining over 350,000 retailers already on the network. This partnership aims to improve the payment experience for both merchants and consumers in Italy while strengthening Satispay’s position against competitors.
To use Satispay, users only need to connect their bank account to the network’s app with an IBAN, allowing them to send or receive money without involving card networks or other intermediaries.
Satispay is currently being used by 4.8 million people in Italy, Luxembourg, and France. The company aims to offer a secure and easy payment option for customers, allowing them to make payments in person or online stores through its app.
Stefano De Lollis, Online Business Development Director at Satispay, said: “Joining forces with Stripe marks a significant milestone in our strategic approach to broadening our payment acceptance network, whilst ensuring that Satispay users continue to enjoy the effortless and secure payment experience they have come to expect, now across a growing number of online shops.
“This partnership also further solidifies Satispay’s position as the most relevant independent payment network in Italy for international payment services providers to integrate within their payment services.”
Stripe has had its hand in all types of European payments pots so far this year. Recently the company has accelerated its presence in the world of blockchain. Last month, Cryptocurrency exchange Bitstamp partnered with Stripe to enable the fintech to bolster its fiat-to-crypto offerings across Europe.
This followed a deal in June when Stripe announced an agreement with Coinbase to increase on-chain adoption and provide faster, cheaper financial infrastructure.
On top of this, the company has actively looked to expand its reach and has turned its attention to the UK market. In May, Stripe launched a new suite of payment products tailored for the country and also opened a new office in London to support its growth.
