SadaPay to offer online payments through MasterCard network, international deposits

SadaPay, a digital mobile wallet is all set to launch in Pakistan with a different perspective on fees and charges. Now customers will be able to open an account from their phones in 2 minutes by simply uploading their selfie and a picture of their CNIC, get a card and start spending anywhere in the world.

SadaPay can now issue cards that work on the Mastercard network in any market where Mastercard is accepted, which represents around 210 countries at the best forex transaction rates in Pakistan, allowing for seamless transactions anywhere in the world, including online payments.

The SadaPay debit card is accepted online on international websites like Facebook, Amazon, Netflix, AliExpress which was a major issue with existing cards in the Pakistani market, not only helping make secure online payments but also enhance the users' online experience. 

SadaPay brings a very innovative approach to banking and is very different from the mainstream banks that people are used to in Pakistan. SadaPay accounts have no monthly or annual charges, customers are allowed three free ATM withdrawals per month and IBFTs to other bank accounts and mobile wallets under Rs10,000 are also free.

The SadaPay app also offers a range of other features such as free and instant local transfers, spending insights, card activation controls within the app but the team plans to launch many more useful products such as saving vaults, tax modules and lending.

The SadaPay account would also be a game-changer for freelancers as it would allow them to receive payments from international clients through digital invoices that can be paid using a credit card from anywhere in the world. Not to mention, freelancers have always had a tough time opening bank accounts in Pakistan.

Moreover, SadaPay’s innovative approach will not only disrupt the local banking industry but will also help bank the ‘unbanked’ segment of the Pakistani population. 

Challenger banks have been disrupting banking around the world and they have been able to do so by removing many middlemen that are in the finance sector. SadaPay wants to bring the infrastructure behind it in-house and focus on offering its services entirely through digital channels.

This initiative can greatly boost financial inclusion in Pakistan given roughly 87% of the population is still unbanked. Bringing the masses into the documented economy and creating a platform for anyone to join seamlessly will create a huge impact on thousands of lives.

ePaper - Nawaiwaqt