D-Wave Quantum Inc., a leading quantum computing firm, and Satispay, a top Italian fintech company, have developed a quantum-hybrid application to optimize customer rewards initiatives. Using D-Wave’s constrained quadratic model (CQM) hybrid solver, the application has shown a 50% improvement in customer rewards programmes within the same budget. This development will help Satispay enhance its rewards programmes and increase membership—satispay plans to transition the quantum-hybrid application into production, with internal teams expected to use it weekly. The collaboration comes as Satispay’s adoption increases in Italy and France.
Quantum Computing Application Enhances Customer Rewards Programs
D-Wave Quantum Inc., a quantum computing systems, software, and services company, and Satispay, an Italian fintech company specializing in mobile payments, have developed a quantum-hybrid application to optimise customer rewards initiatives. The application, which utilises D-Wave’s constrained quadratic model (CQM) hybrid solver, has shown a 50% improvement in customer rewards programs for the same budget. This development has led to more effective strategies for Satispay’s rewards programs and efforts to increase membership to their independent payment network.
Satispay plans to transition the quantum-hybrid application into production, with internal teams expected to use it weekly. This comes at a time when Satispay adoption is increasing in countries such as Italy and France, with consumers and businesses seeking a seamless, secure and easy way to send, receive and spend money.
Quantum Technology in Financial Services
The application of quantum-hybrid technology in financial services is a growing trend. By optimising Satispay’s customer acquisition strategies, D-Wave is helping the fintech company to expand its independent payment network to more customers at a faster rate. The CQM hybrid solver is available in the Leap™ real-time quantum cloud service.
Satispay is a mobile payment network that offers an alternative to credit and debit cards. The Satispay app allows users to pay in physical and online stores and exchange money between friends, as well as offering a range of other services such as phone top-ups, bill payments, and savings. Satispay is used by more than 4 million consumers in over 300,000 merchants across France, Luxembourg and Italy.
D-Wave Quantum Inc. is a company specialising in the development and delivery of quantum computing systems, software, and services. It is the first commercial supplier of quantum computers and the only company building both annealing quantum computers and gate-model quantum computers. D-Wave’s customers include Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.
Forward-Looking Statements
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control.
“It is our mission at Satispay to simplify payments to improve everyone’s life, and we’re looking at innovative ways we can accelerate adoption and usage of our network to quickly build out our market footprint in service of that vision,” said Dario Brignone, founder and CTO of Satispay. “Together with D-Wave, we’ve built a quantum-hybrid application that has demonstrated immediate business value at scale, helping us more effectively manage our rewards program to save money, improve rewards appreciation and drive increased membership.”
“Digital payments represent one of the fastest-growing trends in financial services,” said Murray Thom, vice president of quantum business innovation at D-Wave. “By applying the power of quantum-hybrid technology to optimize Satispay’s customer acquisition strategies, we’re helping one of Europe’s top fintech companies unlock a competitive advantage and bring its independent payment network to more customers, faster.”
Summary
A quantum-hybrid application developed by D-Wave Quantum Inc. and Italian fintech Satispay, has demonstrated a 50% improvement in customer rewards programmes within the same budget. The application, which uses quantum computing to optimise rewards initiatives, is set to be integrated into Satispay’s operations, reflecting the growing adoption of quantum technology in financial services.
- D-Wave Quantum Inc., a leading quantum computing company, and Satispay, a top Italian fintech firm, have developed a quantum-hybrid application to optimise customer rewards initiatives.
- The application uses D-Wave’s constrained quadratic model (CQM) hybrid solver and has shown a 50% improvement in customer rewards programs for the same budget.
- This technology has helped identify more effective strategies for Satispay’s rewards programs and efforts to increase membership to their independent payment network.
- Satispay plans to transition the quantum-hybrid application into production, with internal teams expected to use it weekly.
- The collaboration between D-Wave and Satispay comes as Satispay’s adoption is increasing in countries like Italy and France.
- Dario Brignone, founder and CTO of Satispay, and Murray Thom, vice president of quantum business innovation at D-Wave, have expressed their commitment to using innovative technology to improve their services and expand their market footprint.
- The CQM hybrid solver is available in the Leap™ real-time quantum cloud service.
