We have published a post on an introductory article to know the concept and idea of sadapay launching in Pakistan by Founder and CEO Brandon Timinsky. Sadapay is taken the initiative of solving the problem of international payments transactions in Pakistan throughout the Pakistani banking channels legally and conveniently. The team of sadapay scheduled launch in early 2020 this year but due to the SBP wait of the approval process, therefore, they can’t execute things on planned timings.
SadaPay Latest Announcements
On 28 August 2018 when the Facebook page of sadapay was created and meanwhile lots of research and by watching the market situation that’s the appropriate time to launch this product as a helping hand for Pakistan’s freelancer’s community who are dependent on their digital online career for making money dealing with international clients. As Pakistan’s current president Dr. Arif Alvi initiates the PIAIC in Pakistan that’s why it could help the youth in putting a significant positive effect on the economy. Recently, throughout the month march latest announcements are published in the sadapay site blog section.
Sadapay founder & CEO signed a report of understanding and taking recognition of PITB (Punjab information technology board) for establishing the digital payment system for the freelancer’s community and as well as the whole Pakistan nation of financial matters which depends upon the company. Pakistan needs the global payment relation for foreign exchange conversion made easy and accessible for all the nationwide cheaply and conveniently. Sadapay will offer free debit cards until 3 years and for eRozgaar graduates with the PITB printed logo. Already 32 eRozgaar centers have 16,000 graduates all around the Pakistan earning of 230 million PKR. So eventually this initiative help in more growth in bringing revenue.
The oldest bank of Pakistan which is BOP bank of Punjab based in Lahore signed a contract with Sada pay as an intermediary of managing payment/transactions of domestic or international. Sadapay have not physical branches because they want to cut the cost of physical expenditure and want to provide a seamless digital experience for Pakistani users. The BOP will hold the payments and money which will revolve throughout the banking channels also provide the BIN sponsor service as debit cards and ATM service arrangement channels.
Sadapay is offering 3 free every month transitions for every user of debit cards that’s mean you don’t need to pay any fee upon withdrawal from any domestic ATM and after 3 transactions limit only 15 PKR you will be charged. There are zero fees upon creating your account also no fee upon IBFT up to 10K PKR funds transactions and only PKR 8 will be charged on above 10K PKR amount. According to SBP’s current regulations, the default account can only avail 50K PKR deposit in a month and merchants verified accounts can avail 500K deposit in a month. The amazing thing mentioned in the sadapay site FAQ that if your debit card is stolen you can request again it and there is no fee upon reapplying that seems awesome but what exactly is it’s matter.
Omer Salimullah Join SadaPay
He is the digital banking eco-system leader according to their LinkedIn profile about section. They have more than 18-years of experience in digital banking and he also heads of open banking and development eco-system at JS bank Pakistan which is very much popular in Pakistan. Omer Salimullah has joined Sadapay as COO to make the sadapay best and premier digital payment system in the upcoming future with their hard-earned skrill set. The founder of sadapay, shows collaborative nature for joining the sadapay as COO and contributing to lead the success of company.
Finally, in the month of March we found out the published application of sadapay in the play store to download and open your account but currently, the sada pay has not yet received the license from SBP but they are very much optimistic for launch in early months of 2020. Currently, you can download the app from play store and open your wallet just for a test as you can enter your mobile number and verify your OTP and there is an opportunity for those who are excited about the debit card but can’t wait until the waitlist normal sending schedule they can speed up this process through inviting other users on sadapay app and they can create their account it will be counted as your referral the maximum level of referral to get your card exclusively first priority for 10 referral is required only.
Sadapay launch in 2020
Very importantly sadapay is scheduled for launch in 2020 that’s why we will cover then when it will successfully live after confirmation and testing of the product also it’s important to maintain all the needs for financial requirements fulfillment as a person. The BOP will serve as a core intermediary and the developers of sadapay will manage the eco-system of sadapay to give a seamless experience to their users and the overall community of freelancers to bring revenue in Pakistan.