In September 2023, Satispay had launched the meal voucher service accessible and manageable directly from its app that many already use to make payments, transfer money, pay bills, utilities, top-ups. Today, the Milan-based fintech scaleup announces that it has reached an agreement with MD to manage a large-scale discount supermarket distribution network consisting of 800 stores in Italy. In Satispay’s plans there is to make the tool of meal vouchers an effective support to the welfare policies of companies not only those of medium and large size but also SMEs and professionals with a VAT number, the meal voucher is a useful tool that in Italy, however, suffers from dysfunctions and imbalances of the market, burdening primarily the merchants who accept them, the small ones in particular. While they are a key player in the system, they face extremely high commissions of between 12 and 15% on average, with collection times of up to 120 days. These are conditions that make them unwelcome to bars, restaurants and groceries which, if they do not refuse them, often limit their acceptance to lunch only, excluding evening time slots and holidays, with an obvious disadvantage for workers who would like to use them all the time. Satispay does not apply any additional commission to small merchants on meal vouchers, allowing them to cash in on their value in a single working day, according to Satispay’s normal model and pricing: zero commissions up to 10 euros and only 20 cents for higher amounts. “Satispay Meal Vouchers totally changes the rules of the game and aims to start a transformation of the sector. The goal is to create a tool appreciated by both users and merchants who, as key players in the local business fabric, must not be burdened with unsustainable commissions, now paid to avoid losing customers,” Alberto Dalmasso, co-founder and CEO of Satispay, explained in a note at the time of the launch. For the companies that adopt it, it will also represent a clear ethical choice, aimed at generating positive effects both for their employees and for local businesses. Satispay Meal Vouchers is a new opportunity for both freelancers and companies, which are increasingly committed to the evolution of a culture of social responsibility and environmental sustainability, as well as to the development of attractive welfare policies for the retention of talent”. Since October 2023, the more than 70 thousand food and catering operators who are already part of the Satispay network are enabled to accept the new generation meal vouchers, effectively constituting a vast, widespread and rapidly growing acceptance network active in Italy. At the same time, the first large-scale retail chains that will accept Satispay Meal Vouchers will be activated, such as Basko, Borello, Coop Lombardia, Despar, Ekom, Nova Coop, Prestofresco, Tigros, and To.Market. To these is now added the strategic and ethical partnership with MD Italia which, also in light of the inflationary trend that has affected the cost of living, also aims to offer social support to the country. Technology thus becomes a tool at the service of shopping, capable of fueling a virtuous trend that generates value for consumers and for the local economic context in which they are inserted. With almost 30 years of activity, more than 800 stores and over 9000 employees throughout the country, MD is constantly looking for and defining the best solutions, services and commercial and corporate policies with high added value.
Giuseppe Cantone, MD’s sales director
, comments: “The partnership with Satispay is part of a process of constant search for innovative solutions to meet our customers’ expectations. We recognize the importance of adapting to the needs of evolved and digitally oriented consumers and we have identified in the Satispay Meal Vouchers an opportunity to offer a sustainable and transversal option”. Luca Palermo, chief business development officer B2B at Satispay, adds: “We are delighted to collaborate with MD, which for the first time in Italy introduces meal vouchers to the discount world and decides to do so with our service. It is the confirmation that we have managed to transfer the characteristics of convenience and ethics that we have combined into a single tool. This partnership is testimony to the added value that all the chain’s customer workers will benefit from thanks to Satispay Meal Vouchers”.
All digital
Satispay Meal Vouchers it redesigns the user experience for customers: the meal vouchers, which are totally digital, are automatically uploaded to a dedicated section in the Satispay app of the worker who will be able to pay in the MD stores, as well as in all the other establishments that accept them, using both the meal voucher and any extra amount withdrawn from his personal wallet. A smooth and fast process like a normal payment made with the Satispay app that speeds up the operation at the checkout and allows you to use the vouchers even on holidays. The use of meal vouchers can always take place by workers, in restaurants for dinner or on holidays, effectively overcoming any limitations defined by public establishments. In addition, Satispay meal vouchers are valid for two years. The list of all affiliated merchants is visible on the Satispay app. Simplifications of use also for merchants who will have to do absolutely nothing to report the receipts of meal vouchers because Satispay has completely automated the collection and invoicing process throughout the supply chain. As far as employers are concerned, the company contact person in charge of managing the meal voucher tool has a simple control panel on which to upload employee records, order meal vouchers and pay directly for purchases. This interface also allows you to download reports and invoices for better tracking. (Photo by Donald Giannatti on Unsplash)
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