SadaPay has recently obtained an Electronic Money Institution license from the State Bank of Pakistan
SadaPay and Mastercard have announced a partnership to carry out faster and safer domestic and cross-border transactions.
According to a statement, SadaPay will not only utilize Mastercard’s innovative capabilities for card issuance. It will also use them as a payment processing platform, thus strengthening Mastercard’s position in the country.
The digital mobile wallet is expected to issue more than 3 million cards during the next 5 years. It would help serve a large segment of the country’s unbanked and underbanked population, with a special focus on solving payment pain points for freelancers and the self-employed.
Besides, SadaPay charges no monthly and transaction fees, and account holders are eligible for 3 free withdrawals per month from any ATM across Pakistan.
We’ve reported that Mastercard has appointed Mark Barnett as President of its Brussels-based European business. Mr. Barnett will be responsible for the strategy, direction, and overall success of all aspects of Mastercard’s activity across the region.