NayaPay vs SadaPay – Which one is better? With the technological revolution and the increasing trend toward the digital economy, payment methods have been updated to be more efficient and secure. The global digital banking trend has transformed every industry by accelerating payment procedures.
NayaPay and SadaPay are the newest entrants in microfinance banking in Pakistan. Just like JazzCash and EasyPaisa, they are also banking systems for microfinance. Banking microfinance has become the norm in developing countries. They provide people with lower incomes and access to financial services.
The self-employed and small-business owners benefit the most. Over 500 million people have benefited from microfinance-related operations. Furthermore, microfinance allows individuals to obtain affordable small business loans. First, let’s discuss each microfinance banking system before comparing them.
Many people confuse NayaPay and SadaPay with services such as JazzCash and EasyPaisa, which are completely different and fall under the category of Microfinance Bank (MFB) by the State Bank of Pakistan. However, SadaPay and NayaPay fall under Electronic Money Institution (EMI) category.
|Biometric Verification||In-app (Free)||Meezan Bank ATMs (Free)|
|OTC Cash Deposit||No||Meezan Bank and Askari Bank|
|Card Number||Not written on the card||Written on card|
|Services||Mobile top-up and bill payment||A one-stop solution|
|Free ATM Withdrawals||Yes (3 per month)||No|
|Charges and Annual Costs||No annual charges||No annual charges|
Difference between EMI and Microfinance
Electronic Money Institution (EMI) is a non-bank entity authorized to issue payment means in the form of electronic money, offering innovative, user-friendly and cost-effective digital payment tools such as wallets, prepaid cards and contactless payment tools, including wearable devices. However, microfinance banks are actual banking entities registered with the State Bank of Pakistan.
What is NayaPay?
NayaPay is one of the very first EMI services in Pakistan. It is registered in the name of NayaPay Private Limited and is regulated by the State Bank of Pakistan. NayaPay is a cost-effective and secure e-money management platform. Transferring money, paying bills, and real and virtual debit cards, it’s all available with NayaPay. You can have your electronic money account with NayaPay. It relieves you of having to carry credit and debit cards with you.
You can do any digital transaction just with your smartphone. Because NayaPay is connected to the Single Link network, you can pay with cash from any ATM in your area. You can also connect your bank account with NayaPay. The top users of NayaPay are small merchants, sellers and small business owners.
What is SadaPay?
SadaPay is registered as SadaTech Pakistan Private Limited established in 2019. It is SECP certified and regulated by the State Bank of Pakistan (SBP) SadaPay is a secure and efficient digital money management tool designed to facilitate domestic and international payments in Pakistan. SadaPay offers a wide variety of financial services, including a digital wallet that enables you to transfer money, pay bills, and receive a real and virtual debit card without paying any registration fees. SadaPay also provides you a free Golden ticket which you can share with your friends to skip their Waitlist.
SadaPay is a new payment method in Pakistan that makes it easy to pay for your Freelance, Online Shopping and Online Business. The most beautiful part is that it facilitates international payments without incurring any transaction costs. It successfully removes any payment difficulties by making the procedure easier, be it online shopping, Amazon Prime, Netflix or Scribd subscription fees.
NayaPay vs SadaPay: Three Categories Competition
Now, the real question is which one to get; SadaPay or NayaPay? Both of them have their own features but we are going to make it easier for you to choose the best debit card in Pakistan.
- NayaPay offers a wide range of services, while Sadapay has limited offerings.
- Sadapay has an eye-catching user interface, outshining NayaPay in design.
- NayaPay uses Visa for payment processing, while Sadapay relies on Mastercard.
- Sadapay offers three free ATM withdrawals per month; NayaPay charges for withdrawals.
- NayaPay has removed its waitlist, making registration easier; Sadapay still has a waitlist.
- Charges and fees are comparable, with slight differences in card re-issuance costs.
- NayaPay’s strength lies in its variety of services, while Sadapay is efficient with fewer errors.
We will be comparing SadaPay and NayaPay in 3 categories: application user interface (UI), payment network, and biometric identity verification.
Better User Interface: NayaPay vs SadaPay
If simplicity is your cup of tea, ordering SadaPay will not disappoint you. It is a simple app with essential features. On the other hand, NayaPay takes inspiration from the standard banking app and feels a bit messy.
Verdict: SadaPay is better in terms of the user interface.
Better Payment Network: NayaPay vs SadaPay
One of the distinguishing features between both payment solutions is the type of payment networks that they use. NayaPay provides you Visa Debit Card. While SadaPay uses MasterCard. For the average consumer, there should be no difference between the two payment networks. If you already have a MasterCard, you can get NayaPay to get access to both payment networks and vice versa.
Verdict: Both are powered by two of the world’s largest payment processing networks.
Better Card Design: NayaPay vs SadaPay
NayaPay has a standard card layout. While SadaPay is taking it to the next level with its Uncountable Cards. It looks a lot better and gives your debit cards a new look. We’ve seen blue, black, and peach color options for the time being. They all seem sick!
Verdict: SadaPay has a unique card layout