Updated on May 3rd, 2023
When we enter a new area of technology, visiting the bank becomes an outdated concept. With the rise in web-based alternatives, more and more people are turning to digital banking services in Pakistan, especially to avoid waiting in long lines just to pay bills or send money abroad. Recently, a new player has appeared in the Pakistani market, SadaPay.
SadaPay is a secure and smart online money management platform designed to simplify domestic and international payments in the country. With the SadaPay app, you can open an account and even get a physical card without any registration fees.
In this blog, we will discuss everything you need to know about SadaPay below, including its features, services and advantages of using this digital platform.
What Is SadaPay?
SadaPay is a digital payment platform that allows users to make and receive payments online via mobile and Mastercard. It allows individuals and companies to transfer funds securely to the other party through a mobile application, online banking service, or via a virtual or physical debit card.
SadaPay also provides services such as bill payments, international transfers, and more. It is designed to be a fast, efficient and convenient alternative to traditional banking methods as well as other digital payment platforms.
SadaPay Virtual and Physical Debit Cards
SadaPay offers virtual and physical credit cards.
Physical debit cards
SadaPay also offers physical credit cards that can be used for purchases in physical stores and for withdrawing cash from ATMs. These cards are linked to the user’s SadaPay account and can be used wherever Mastercard cards are accepted.
Offers Free Virtual Debit Cards
Virtual can be generated within the SadaPay app and can be used for online and in-app purchases. It can also be used to pay on websites and apps that accept Mastercard.
Creating an Account on SadaPay
- To create a Sadapay account, you have to install the Sadapay app, for which you have to open the Play Store and search for Sadapay.
- Once you have installed the Sadapay application, you have to open it and view the features of the application, then you have to click on “Say goodbye to, Bank Fee”.
- You have to add your mobile phone number along with your country code. An OTP verification code will be sent to this number for verification.
- Once you enter the OTP code, you will be granted access to the app. Your number for account registration will be shown in the Waitlist, which can range from hundreds of thousands.
- If you would like to create a Sadapay account ahead of time, Sadapay provides you with an option to 10 invite friends or use of Golden Ticket.
- Next, you must provide the application with your personal information, which includes your name and email address. Then, click Continue.
- You must provide the application with a photo of the front of your ID. In the next step, you have to take a selfie of yourself.
- A “You need to verify your account” message will be displayed, and your account will be approved within one business day. Once your account is approved, you will receive a notification.
- Upon account creation, the user can use the platform to perform transactions, pay bills, and transfer funds to other accounts. User can also access their transaction history and account information through Sadapay App or Website.
- In addition, the user can also add multiple payment methods to the account such as bank account, debit card, etc. Once the payment methods are added, the user can choose the required payment method for each transaction.
SadaPay Security Features
Sada Pay has taken many measures to protect its users’ personal and financial information. Some of these features include:
- Two-Factor Authentication: This feature adds an extra layer of security to your account by requiring you to enter a code sent to your phone or email in addition to your password when logging in.
- Encryption: SadaPay uses encryption to protect your personal and financial information as it is transmitted over the Internet.
- Fraud detection: It also uses advanced fraud detection systems to monitor transactions and detect suspicious activities.
- Biometric Authentication: Sada Pay supports biometric authentication such as fingerprint recognition and facial recognition to ensure that only authorized users can access the account.
- Secure storage of sensitive information: Secure servers are used to store your personal and financial information, which is protected by multiple layers of security.
- Periodic Security Updates: Sada Bay updates its systems and infrastructure regularly to protect against the latest security threats.
It is advised to always enable all security features, use a strong password, and be wary of phishing attempts to keep your account and personal information secure.
Advantages of Using SadaPay
Listed below are some of the benefits of using SadaPay.
Low Transaction Fees
One of the biggest advantages of using Sadapay is that it comes with low transaction fees. It is much less compared to traditional banks and other financial institutions. This can be particularly beneficial for businesses that process a high volume of transactions, as lower fees can lead to significant savings over time.
Low transaction fees on Sadapay can also be beneficial for individuals. It allows them to save money when making online purchases or sending money to friends and family.
Sadapay’s low transaction fee structure also enables micropayments, which are small amounts of money that can be processed at low cost. This can especially help small businesses and freelancers.
Fast and Efficient Transactions
Sadapay’s digital payment infrastructure is designed to process transactions quickly and securely. In addition, you can do transactions with just an email or phone number on Sadabay. This makes it more convenient for both parties.
Sadapay also offers a variety of payment options, including debit cards, bank transfers and e-wallets, which can increase transaction efficiency. This can help reduce time and costs
Easy and User Friendly Interface
The SadaPay platform is designed with a simple and intuitive layout. This makes it easy for users to navigate and access different features.
SadaPay also has a mobile app, which allows users to access the platform from their smartphones and tablets. It has a website-like interface, making it easy for users to make payments and manage their accounts on the go.
In addition, SadaPay provides detailed statements that allow users to view and track their past financial transactions. These can be very useful for businesses, as they can help them keep track of their finances, and also for individuals to keep track of their spending.
Disadvantages of SadaPay
- There is no mobile top-up feature.
- Refundable biometric verification fee.
- Referral system.
- Long waiting list.
Competitors of SadaPay in Pakistan
Here is the list of top 4 competitors of SadaPay.
Regulated by the State Bank of Pakistan
SadaPay is regulated by the State Bank of Pakistan and operates under the license framework of the Electronic Money Institution. Further, SadaPay is registered as SadaPay Pvt Ltd with the Securities and Exchange Commission of Pakistan.
3 Free ATM Cash Withdrawals
Your SadaPay Card contains 3 free cash withdrawals every month at any ATM in Pakistan.
SadaPay Mastercard Accepted Worldwide
Yes, you should be able to use your card on any website worldwide that accepts Mastercard as a method of payment.