SadaPay teams up with Mastercard for issuing debit cards

Thursday 7 May 2020 13:12 CET | News

SadaPay has partnered with Mastercard to equip SadaPay e-wallet holders with Mastercard debit cards which can be used locally and internationally on ecommerce, POS, and ATMs.

SadaPay has recently obtained an Electronic Money Institution (EMI) license from the State Bank of Pakistan. The fintech is expected to issue over three million cards over the next five years, which should serve a segment of the country’s unbanked and underbanked population, with a focus on solving payment pain points for freelancers and the self-employed.

A SadaPay account can be opened from any smartphone with a selfie and a picture of the user’s National Identity card. There are no monthly fees, no transaction fees, and account holders are eligible for three free withdrawals per month from any ATM across Pakistan. Interbank transfers under EUR 120 to any institution in Pakistan are processed instantly and free.

The SadaPay debit card can be used for in-store or online purchases, all of which can be tracked using the app and via instant transaction notifications.

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Keywords: Sadapay, MasterCard, partnership, digital payments, payments , Pakistan, e-wallet, debit cards, ecommerce, POS, ATMs, Electronic Money Institution, EMI, State Bank of Pakistan, fintech, transactions
Categories: Banking & Fintech
Countries: Pakistan
This article is part of category

Banking & Fintech