What is SadaPay Used for? Everything you need to know about it
SadaPay Everything you need to know about it. SadaPay is another digital payment gateway that can be used just like Jazz Cash, and EasyPaisa as already working in Pakistan. It can help you in paying and receiving money through the card in:
- online business,
- freelancing services,
- e-shopping easy
- allows international payments without any transaction fees
- online shopping,
- signing up on Netflix, Amazon, and Scribd
- can also withdraw cash without any fee
- great benefit for freelancers in Pakistan
Who is the Founder of SadaPay?
The founder of SadaPay is Brandon Timinsky. He is the Founder and CEO of SadaPay. Moreover, Brandon Timinsky has had 6 past jobs including Founder at Lima Agency.
Mr. Brandon Timinsky founded SadaPay in August 2018. He belongs to Miami, Florida, United States. He is the founder of the following organizations also:
- Lima Agency
- Find my Amigos
- Cancelled Listings
What is NayaPay and SadaPay?
SadaPay and NayaPay are categorized as Electronic Money Institutions (EMI) and operate under a non-banking entity with an EMI license issued by the State Bank of Pakistan (SBP).
However, EasyPaisa and JazzCash are products of Mobilink Microfinance Bank and Telenor Microfinance Bank. which are completely different and fall under the Microfinance Bank (MFB) category by the State Bank of Pakistan.
What are the Benefits of SadaPay?
- Physical Debit Card is without numbers
- Option of Virtual Debit Card for making Online Payments
- Cost free Physical and Virtual Debit Cards
- Without any charges / annual fees
- ATM Withdrawals Per Month without charges – up to 3 Free
- IBFT Transfers without charges
- In-App Control Over Debit Cards
- Live Chat Support
- Option of Bank-Linking to Transfer Money Swiftly
Is SadaPay free?
Yes, SadaPay is without any fees. You can do cost-free online shopping and transactions. Moreover, free cash withdrawal from local ATMs 3 times a month. Local transactions are also free unless it exceeds 10K. Forex rate is only 1.5 percent on international transactions.
Can I do online shopping by using SadaPay?
Yes, you can do online shopping through Sadapay. You can also get the free Mastercard debit card. SadaPay Mastercard can be used on e-commerce, point-of-sale (POS) and ATMs.
Is SadaPay debit card free?
Yes, SadaPay Debit card is issued without any charges / fees.
What is the SadaPay Withdrawal Limits?
- A Standard SadaPay account has a 50,000 PKR monthly deposit limit,
- monthly deposit limit can be upgraded to 200,000 PKR upon biometric verification
- Merchant accounts for freelancers can have a 500k PKR monthly deposit limit
- Merchant accounts for freelancers can have a 500k PKR withdrawal limit
Can I deposit in SadaPay from other banks?
Yes, SadaPay accounts have normal bank account numbers to receive funds from other banks. There is no fees/charges to receive inter-bank transfers.
List of Fintech Companies in Pakistan
Let us discuss the different fintech companies registered in Pakistan by the State Bank of Pakistan to support or enable banking and financial services.
Electronic Money Institutions (EMI) in Pakistan
Final approval got from the State Bank of Pakistan (SBP) in August 2021 after a year-long inspection by the SBP. It is owned by the Lakson Group. NayaPay is offering a digital wallet with Visa debit cards for everyday payments.
It is the second EMI in Pakistan with a ‘Live’ status. License was granted in September 2021.
CMPECC Limited of Zong is the third EMI with a ‘Live’ staus. The company got approval to operate earlier this year in March.
SadaTech Pakistan Pvt. Ltd – SadaPay
Approval to SadaTech, or SadaPay was granted by the SBP in December 2020. SadaPay, is in partnership with MasterCard to bring modern financial services to Pakistan, offers an E-money wallet for consumers and freelancers.
TAG is a mobile application that allows mobile wallets and debit cards. You can use it to perform online transactions such as money transfers, bill payments and mobile top-up payments with a touch. Approval granted by the SBP in August 2021, after receiving in-principal approval from the central bank in November 2020.
Wemsol Pvt Limited
The Wemsol Founded in 2011. Wemsol operates for the financial and retail sector. Pilot approval granted by the SBP on July 8, 2020.
A subsidiary of Systems Limited. In-principle approval granted in January 2020. It is offering an E-money wallet service for consumers and merchants.
Akhtar Fuiou Technologies Pvt. Ltd.
It is a partnership between Pakistan’s Akhtar Group and China’s Fuiou Pay. SBP provided in-principle approval for EMI license on May 07, 2021. Aims to launch an e-wallet to digitise payroll processing in industries, facilitate remittances through the wallet and provisioning of Point of Sale (PoS) terminals for processing digital payments.
Hubpay Pvt. Ltd
Hubpay, a UAE based money services provider, is a digital wallet that lets you make money transfers and payments from the UAE to Asia. In-principle approval granted by the State Bank on February 02, 2022.