SadaPay, a fintech challenger launching in Pakistan, has announced an exclusive partnership with Mastercard. This collaboration will enable SadaPay Wallet holders to receive Mastercard debit cards, which can be used locally and internationally for e-commerce, point-of-sale (POS) transactions, and at ATMs.

The Need for Financial Inclusion

Pakistan is the fifth most populous country in the world, yet 87% of its 220 million people remain unbanked. With about one million smartphones coming online every month, the need for seamless, faster, and more secure digital payments has never been greater. SadaPay aims to solve this by offering its users an easy-to-use e-wallet solution.

A Strategic Partnership

SadaPay has secured an Electronic Money Institution (EMI) license from the State Bank of Pakistan (SBP) and will use Mastercard’s capabilities for card issuance and payment processing. This partnership reinforces Mastercard’s presence in the region and promises a world-class payment experience for SadaPay users. The goal is to issue over three million cards in the next five years, addressing the needs of Pakistan’s unbanked and underbanked population, particularly freelancers and the self-employed.

Key Benefits for Users

SadaPay users can open accounts from their smartphones in minutes, with no monthly or transaction fees. They will be eligible for three free ATM withdrawals per month and enjoy free interbank transfers under Rs. 10,000. Additionally, users can cash-in from partner retail agents across the country, making SadaPay a flexible and accessible option.

Empowering Freelancers

As the world’s fourth-largest freelancing economy by population, Pakistan’s freelancers often lack efficient payment solutions. SadaPay will allow freelancers to receive international payments directly into their wallets and withdraw earnings from top freelancing platforms. SadaPay users will also have access to international remittances from 45 countries using services like Payoneer, Transferwise, and Western Union.

Security and Convenience

The SadaPay debit card, equipped with contactless technology, can be used for in-store or online purchases globally. All transactions are tracked via instant notifications in the app, which also allows users to manage card controls, lock or unlock their card, and monitor spending securely.

This partnership with Mastercard is a significant step toward financial inclusion in Pakistan, simplifying digital payments for millions of Pakistanis.