Why the IBAN
Satispay connects directly to your bank account (or your prepaid card with IBAN). With Satispay you never have to share your card details when signing up or when making payments.
Why the IBAN code instead of credit/debit cards?
Two reasons: more secure and less expensive.
We created Satispay using the IBAN code instead of credit/debit cards in order to make our system as secure as possible.
The IBAN is the unique identifier that allows Satispay to connect directly to your bank account. Unlike credit/debit card details, the IBAN is not sensitive information as it cannot be used to make payments. In fact, your bank account can only be debited by financial institutions and only with your authorization.
Our goal was to create a completely free service for users, which would not have been possible using credit/debit cards.