Mobile Payments with Alberto Damasso, Founder and CEO of Satispay

More and more, we are seeing a global trend towards cashless transactions, particularly in the wake of the COVID-19 pandemic. In this episode, we’re going to talk about FinTech and mobile payments, as well as how these topics are affected by the current circumstances. Today’s guest is Alberto Dalmasso, Founder and CEO of Satispay. Satispay is a mobile payments application in Italy, which started out in 2015, and recently surpassed 1 million active users. We discuss with Alberto what exactly an active user is, why Satispay chose to list active user numbers, and some of the lessons that Alberto learned in building up both consumer and merchant networks. We also dive into some important distinctions between traditional or retail banks and FinTech like Satispay and the inevitable shift from brick and mortar institutions to mobile services. Of course, we discuss what effect the pandemic has had on Satispay and why Alberto believes that the demand for remote transaction services will only increase in the future. He also has some words of wisdom for entrepreneurs and startups, so make sure not to miss this episode!

Key Points From This Episode:

• Alberto talks about his background, Satispay, and its recent milestone of reaching over 1 million active users.
• The definition of an active user and why Satispay chose to list these numbers.
• Lessons Alberto learned in building up both consumer and business networks.
• The value of facilitating word-of-mouth versus paying for traditional advertising.
• Why Satispay will never become a retail bank.
• The growth and developments Satispay has seen during theCOVID-19 pandemic.
• An inevitable shift from serving people in store to well-organized delivery services.
• The importance of owning technology to react quickly to changes and new consumer needs.
• Demand for cashless transaction services will only increase.
• People will adapt to remote transaction services and not want to return to cash.
• Alberto believes that domestic solutions will be more dominant than global ones like PayPal.
• While this is a crisis, it’s a chance for entrepreneurs to solve problems.