Olivetti, the historic brand of the Italian industry, and Satispay, the young Italian company that is rewriting the rules of the payment industry, signed an important integration agreement characterized by strong innovation that distinguishes both realities.
Olivetti Nettun@ 7000 cash registers can accept payments sent by customers through the Satispay App that, thanks to its independence from traditional circuits, dramatically reduces transaction costs compared to credit or debit card payments. The new payment solution offers a better and faster service, optimizing the queue at the checkout counters, and giving customers access to special promotions. In particular, when customers send the payment via Satispay from their smartphone, the display of Olivetti cash register will show the control panel of Satispay Business application and the tradesman can accept the payment by selecting “Accept”. At the end of the day, the amounts collected will be directly transferred by Satispay to the tradesman's current account. The service is free of charge for private individuals, while tradesmen are required to pay a fee of 0.20 Euro / cent (only for transactions over 10 Euro; below this amount, there are no costs).
Olivetti holds about 30% of the entire national cash register market. Satispay's integration will start on the high-end models Nettun @ 7000 plus, which represent the latest evolution of the touch screen cash registers. It has a powerful and innovative design with a particularly smart interface, becoming the ideal tool for cutting-edge and demanding shops and restaurants. The integration process will also soon be extended to Nettun @ 3000 cash registers and, progressively, to all other keyboard and touch screen models, such as the new form 100, which Olivetti plans to market in 2017 and which will be characterized by a simple and intuitive user experience, being already arranged for connectivity.
In Italy, there are about 600.000 SMEs led by entrepreneurs "under 35"; 29% of them work in trade and 10% in catering (Source: Movimprese, January 2017). This target is continuously searching for innovative tools and solutions to manage the time of payment with maximum efficiency, both in terms of cost and service, and the agreement between Olivetti and Satispay meets perfectly this need. It should also be stressed that the need for effective, reasonable and safe solutions is common to all product categories and types of tradesmen, whether they are independent or belonging to large chains, as evidenced by Satispay's rapid penetration rate reaching peaks of 70 new businesses registered every day.
For Satispay, the deal is part of the strategy of offering any type of business the opportunity to access the benefits of its system using already existing tools for cash registers.
As proof of the extreme simplicity of use and the real market need, in July 2017, a year and a half from the commercial launch of the system, Satispay had a remarkable growth rate with 17.000 shops contracted with it in Italy, an increase of 70 new businesses per day and 250.000 downloads (with a rise of 600 downloads per day), of which 135.000 are active users with an average use of 6-7 times a month, against 2.8 related to the use of cards.