The Italian fintech brings “Buy now and pay later” to traditional points of sale: 6 million users will be able to defer purchases in three interest-free installments, from big brands to small shops
Turning point in Italian digital payments: payment in 3 installments also arrives in shops. Satyspay brings Buy Now Pay Later to physical channels, allowing 6 million users to split purchases into three interest-free installments, even in physical stores. A move that brings a trend that has exploded in e-commerce into the real world
Satispay brings Buy Now Pay Later to physical stores: how it works
“Buy now, pay later” is now an integral part of online shopping. In Italy, according to data from Assofin and BVA Doxa, it is already used for 17% of digital purchases, but only for 4% of physical ones. And so Satispay decided to launch “Satispay Pay in 3”. From today, users of the app will be able to defer purchases above 30 euros into three interest-free monthly installments, in over 400 thousand participating businesses ranging from large brands to small shops, restaurants, pharmacies and hotels.
Satispay Pay in 3: step by step what you need to do to use it
How is it done? Just open the app, select the store and set the “Pay in 3” filter to verify membership of the service. At the time of payment, you choose the “Pay in 3” option, view the installment plan and confirm with a tap. The first installment is charged immediately, the subsequent ones after one and two months. Before each debit, a notification reminds you to keep sufficient funds in your wallet. Everything happens without forms, documents or waiting: just the app. In the event of an insufficient balance, the company has set up an automatic recovery system: first it attempts to debit from the wallet, then from the connected bank account. Only as a last resort does a recovery process with specialized partners intervene.
With “Paga in 3”, Satispay officially enters the world of light consumer credit. “We have closely followed the development of the Buy Now Pay Later trend, choosing to wait for the right moment to bring all the benefits to our community”, explained Alberto Dalmasso, co-founder and CEO of Satispay. The fintech aims to strengthen the competitiveness of small merchants and to offer consumers greater freedom in managing daily expenses. “We wanted paying in three installments to be immediate, without having to change the way in which you pay or collect. We succeeded”, comments Dario Brignone, co-founder and Chief Innovation Officer.
