Yes, SadaPay operates under the regulatory
oversight of the State Bank of Pakistan and holds a license as an Electronic
Money Institution.
What is the rating of
SadaPay?
Individuals can benefit from the low transaction fees offered by
SadaPay, as it allows them to save money while making online purchases or
sending money to loved ones. Moreover, the low transaction fee structure of
SadaPay facilitates the processing of micropayments, i.e., small amounts of
money, at an affordable cost.
Who owns SadaPay?
Brandon Timinsky, a renowned American entrepreneur and public speaker,
founded SadaPay. His interest in Pakistan was sparked when an old friend from
university invited him to visit the country in 2018. Witnessing the high rate
of smartphone usage and a significant unbanked population, Timinsky identified
an opportunity to launch a neobank to revolutionize the local banking sector.
With a focus on the freelancer and remittance markets, SadaPay aims to disrupt
the traditional banking landscape in Pakistan.
About 87% of Pakistanis are excluded from the
formal financial system.
SadaPay has collaborated with MasterCard to
offer physical debit cards linked to a digital wallet. The team behind SadaPay
includes experienced senior-level Pakistani ex-bankers, and a foreign
technology team, which features the former CTO of Gojek's financial services
division. Additionally, SadaPay's Board of Directors is headed by retired
Finance Secretary, Waqar Masood Khan.
Which country owns SadaPay?
SadaPay Technologies Ltd., a company registered
under commercial fintech license #3263 in the Dubai International Financial
Center, wholly owns SadaPay. SadaPay operates under the regulatory oversight of
the State Bank of Pakistan.
Is SadaPay legal in Pakistan?
Yes, SadaPay is regulated by the State Bank of Pakistan and operates under the Electronic Money Institution
license framework.
0 Comments