- Application showed an improvement of 50% in customer rewards program effectiveness for the same amount of budget
- Italian fintech company Satispay anticipates that its internal teams will use the application weekly when the company transitions it into production
- D-Wave’s suite of services is backed by two decades of quantum technology development and over ten years of customer feedback, which have been incorporated to create the industry’s first quantum computer designed for commercial business applications
D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers, recently announced that it is working with Satispay, the leading Italian fintech unicorn revolutionizing mobile payments, to build a quantum-hybrid application designed to optimize customer rewards initiatives (https://ibn.fm/u15OM).
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 – identifying more effective approaches to Satispay’s rewards programs and the goal of increasing membership of its payment network.
Satispay’s internal teams are anticipating to use the application weekly when the company transitions it into production. The quantum-hybrid application comes as Satispay’s adoption is on the rise in countries including Italy and France – with consumers and businesses looking for a seamless, secure, and easy way to send, receive, and spend money.
Murray Thom, vice president of quantum business innovation at D-Wave, underlined that digital payments are one of the fastest-growing developments in financial services. “By applying the power of quantum-hybrid technology to optimize Satispay’s customer acquisition strategies, D-Wave is assisting one of Europe’s top fintech companies unlock a competitive advantage and bring its independent payment network to more customers, faster,” Thom added.
The D-Wave Advantage(TM) quantum computer is built from two decades of quantum technology development and over ten years of customer feedback to deliver the first quantum computer designed for commercial business applications. The system features a processor architecture with over 5,000 qubits and 15-way qubit connectivity. Since 2018, Advantage has been available to users through the Leap(TM) quantum cloud service – which delivers immediate, real-time access to Advantage and the company’s quantum hybrid solver service with enterprise-class performance and scalability.
“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 Satispay founder and CEO Dario Brignone. “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.”
Leap enables developers proficient in Python to start building and running quantum applications today. The secure and seamless cloud-based connection allows users to easily start solving complex problems of up to one million variables and 100,000 constraints. D-Wave’s CQM hybrid solver is available through its Leap quantum cloud service.
D-Wave’s relentless pursuit of practical quantum computing has resulted in its technology being used today by some of the world’s most advanced enterprises – including numerous Forbes Global 2000 companies. D-Wave’s commercial customers include blue-chip industry leaders like Mastercard, Deloitte, ArcelorMittal, Siemens Healthineers, Unisys, Accenture, BBVA, NEC Corporation, Pattison Food Group Ltd., DENSO and Lockheed Martin.
D-Wave’s four-step Launch(TM) program uses an in-house professional services team and technical domain experts to help businesses accelerate enterprise quantum adoption and realize value faster. Through this hands-on consultative approach, customers receive support with problem discovery, quantum proof of concept, production pilot, and in-production deployment. D-Wave enables customers to build quantum applications capable of solving real-world business problems today. The company showcases customer success stories that demonstrate how quantum technology has been applied to various problems ranging from grocery optimization to protein design at https://ibn.fm/q0HjI.
For more information, visit the company’s website at www.DWaveQuantum.com.
NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS
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 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; the company’s ability to expand its customer base and the customer adoption of the company’s 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 the company; risks related to the performance of D-Wave’s 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 the company’s products; the effects of competition on the company’s business; the risk that D-Wave will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the company may never achieve or sustain profitability; the risk that the company is unable to secure or protect its intellectual property; volatility in the price of the company’s securities; the risk that the company’s 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 the company on the date hereof. The company undertakes no duty to update this information unless required by law.
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