SadaPay and The Bank of Punjab (BOP) have partnered to advance fintech innovation in Pakistan. Under this partnership, BOP will serve as SadaPay’s primary Trust/Settlement Bank and BIN Sponsor, ensuring the safety of SadaPay customers’ deposits and facilitating both domestic and international transactions.

SadaPay, an upcoming Electronic Money Institution (EMI), is on a mission to simplify money management in Pakistan by providing an entirely digital banking experience. By eliminating physical branches, SadaPay passes cost savings to its customers with no traditional banking fees, free cash withdrawals, and free local bank transfers under Rs. 10,000. Additionally, SadaPay offers Pakistan’s best foreign exchange rates for international transactions.

SadaPay's core mission includes simplifying international transfers, aiming to assist freelancers in receiving instant payments from overseas clients. The company also plans to expand globally to facilitate remittances from over 10 million overseas Pakistanis, who currently send over $20 billion home each year.

Mr. Waqas Anis, Head of the Digital Banking Group at BOP, remarked:

"Fintech is causing rapid disruptions in the industry, and conventional banks must adapt. The market is ripe for interoperable and collaborative models, leveraging each player’s expertise."

BOP, one of Pakistan’s fastest-growing banks, operates over 600 branches and serves more than 2 million customers. The agreement was signed by Mr. Waqas Anis and Mr. Brandon Timinsky, CEO & Founder of SadaPay, with senior team members from both organizations present.

Mr. Brandon Timinsky added:

“After searching for the right banking partner, we are thrilled to partner with BOP, which aligns with our vision for innovation. BOP has proven to be agile, and we are excited about the collaborative initiatives ahead.”

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