PALO ALTO, Calif. & BURNABY, British Columbia & MILAN--(BUSINESS WIRE)--D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers, and Satispay, the leading Italian fintech unicorn revolutionizing mobile payments, today announced that the companies have built a quantum-hybrid application designed to optimize customer rewards initiatives. Using D-Wave’s constrained quadratic model (CQM) hybrid solver, the application showed an improvement of 50% in customer rewards programs for the same amount of budget, thus identifying more effective approaches to Satispay’s rewards programs and efforts to increase membership to the revolutionary and independent payment network.
As a testament to its potential business value, Satispay plans to transition the quantum-hybrid application into production, with internal teams expected to use it weekly. The work between D-Wave and Satispay comes at a time when Satispay adoption is on the rise in countries such as Italy and France, with consumers and businesses alike looking for a seamless, secure and easy way to send, receive and spend money.
“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.”
The CQM hybrid solver is available in the Leap™ real-time quantum cloud service, which can be accessed here.
About Satispay
Satispay is the mobile payment super network alternative to credit and debit cards. Independent, efficient, convenient and secure, the Satispay app allows users to pay in physical and online stores and exchange money between friends, as well as benefiting from a range of other services such as phone top-ups, bill payments, pagoPA slips, auto vehicle tax stamps, donations, gift envelopes and savings. It is this strong focus on services, which is set to grow, that makes Satispay a super network, namely the point of reference for any immediate type of payment or money management-related activity. Today, more than 4 million consumers use Satispay in more than 300,000 merchants, including small stores but also large retailers such as Autogrill, Benetton, Boggi, Carrefour, Decathlon, Eataly, Trenitalia and Trenord, across France, Luxembourg and Italy. Satispay offers users a simple, immediate and secure payment experience, and merchants a transparent and advantageous pricing model, with no activation fees or monthly fees, which only charges a fixed fee of 20 cents for payments over €10. With headquarters in Milan, the company now employs more than 550 people and aims to become Europe’s payment super network.
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world’s first commercial supplier of quantum computers—and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. 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. Forward-looking statements in this press release include, but are not limited to, statements regarding Satispay’s plans to transition the application to production, the expected usage of the application by Satispay’s internal teams, and the potential impact of the application once in production. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the timing of Satispay’s transition of the application into production, the usage of the application by Satispay’s internal teams, and the continued positive impact of the application once in production; general economic conditions and other risks; our ability to expand our customer base and the customer adoption of our solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of our business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of our products; the effects of competition on our business; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we may never achieve or sustain profitability; the risk that we are unable to secure or protect our intellectual property; volatility in the price of our securities; the risk that our securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
