Daily Times
April 1, 2021
Islamabad-based fintech SadaPay has raised $7.2 million in a seed round led by New York-based Recharge Capital.
The financing is the largest-ever seed closed by a Pakistani startup. Starting with a digital wallet and a debit card, SadaPay aims to build a “neobank” for Pakistan. Currently available in private beta, its mobile wallet is one of the most anticipated fintech products in the country, with over 200,000 people on the waitlist.
It launched the private beta a few months ago after receiving in-principle approval from the country’s central bank. In this pilot phase, SadaPay is allowed to operate with a maximum of 1,000 customers.
Pakistani Online Payments Fintech SadaPay Introduces Numberless Debit Card for Seamless Digital Transactions
Islamabad-based Fintech firm
SadaPay has introduced the region’s first numberless debit card.
SadaPay’s management confirmed that the company’s debit card is now officially the first numberless card to be launched across all of the MENA region.
The SadaPay team noted in a blog post:
“This innovation, in collaboration with Mastercard, will allow our users to pay in a simple, faster and more secure way. As the name suggests, the card has no numbers printed on it. The details are safely stored in the SadaPay app and there’s no fear of information theft in case the card gets stolen or lost.”
SadaPay partners with IDEMIA to revolutionize and expand banking services in Pakistan
Karachi
February 24, 2021
With IDEMIA’s Global Fintech Accelerator Card Program, the Pakistan-based fintech firm can now effectively scale-up its operations and offer a superior payment experience, powered by state of the art technology. As the world goes digital, payment cards are arguably the last physical touch-point between the bank and its customers. SadaPay’s approach to financial services is to offer free basic services by bypassing the high costs of physical bank branches and staff. Instead, they will be focusing on solving deep-rooted problems in Pakistan’s financial services landscape through a seamless and delightful mobile-first experience.
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