A comparison of SadaPay and NayaPay: Which is the best debit card in Pakistan?
SadaPay and NayaPay are two new players in Pakistan’s booming microfinance banking sector. Both JazzCash and EasyPaisa are examples of microfinance banking platforms. The use of microfinance banks is now widespread in low-income countries. A key objective is expanding financial inclusion for the low-income population.
Self-employed or run small businesses will benefit the most from the tax credits. Microfinance programs have helped over 500 million people in the last decade.
Microfinance institutions enable people to launch and grow businesses by providing loans at incredibly low-interest rates. Defining each type of microfinance banking in depth is a prerequisite to drawing meaningful comparisons between them. NayaPay provides you Visa Debit Card. While SadaPay uses MasterCard. For the average consumer.
How does SadaPay work? The Complete Guide
The EMI license for SadaPay has been issued by the State Bank of Pakistan (SBP). SadaTech Pakistan Pvt Ltd, doing business as SadaPay, is another firm that has filed with the SECP. Their safety protocols are state-of-the-art. SadaPay encrypts all of your transactions.
The card does not feature any actual numerical values. Furthermore, state-of-the-art anti-fraud protocols have been put into place.
SadaPay’s interface is the most user-friendly of any Pakistani online payment system. Their branch locations are not specified. Moreover, they provide a free Mastercard Debit Card. There is no required initial or annual payment. Instantaneous, no-cost, and compatible with any bank or digital wallet.
In addition, you can make three cash withdrawals from an ATM every month without incurring any fees.
SadaPay Mastercards can be used by over 30 million merchants worldwide. As a bonus, your phone will always provide you with the most recent details regarding any financial transactions. SadaPay users must go through NADRA e-Sahulat verification before they can use the service.
Overall, the best possible exchange rate is 1.5%. A representative is available for online chit-chat. Any questions you have can be posted on their website.
Pros
- Physical Debit Card is Numberless
- Virtual Debit Card Option for Online Payments
- Free Physical and Virtual Debit Cards
- No Annual Fees
- 3 Free ATM Withdrawals Per Month
- Completely Free IBFT Transfers
- In-App Control Over Debit Cards
- Live Chat Support
- Bank-Linking Option to Transfer Money Quickly
Cons
- Long Waitlist
- Referral System
- No Mobile Top-up Option
- Biometric Verification at E-Sahulat (Rs. 120 are charged by the agent and later refunded by SadaPay into the account
Everything You Need to Know about NayaPay
The State Bank of Pakistan recognizes NayaPay (Private) Limited as a legitimate EMI provider. In addition, it is a well-designed website. You won’t get lost while browsing the site because of its user-friendly design. NayaPay makes it simple to send money to people you care about without charging them a fee. You can use a Visa debit card for purchases in stores and online.
Because Visa issues their debit card, they can be used in millions of locations worldwide. And you can use it at any of the over 15,000 ATMs spread across the country of Pakistan. It’s easy to manage your payments or put a hold on your card with their helpful app. There are no hidden costs, such as recurring membership dues. You can also use the complementary mobile app to load money onto a virtual Visa debit card. How SadaPay Stacks Up Against NayaPay
The sole goal of their product is to make your daily life easier by increasing your productivity. Bills can be divided automatically. In addition, you can annotate monetary transfers with notes. It is possible to send you reminders of upcoming payments.
NayaPay is a mobile app that has more functionality than other payment systems. Validation of NayaPay transactions must be completed at a Meezan Bank ATM or branch. Finally, thanks to biometric confirmations, there are no more spending caps to worry about.
Pros
- Free Physical and Virtual Debit Card
- Currently, there is no waiting list
- There are no annual fees
- Transfers to and from IBFT are free
- You may make an over-the-counter cash deposit at any branch of Meezan Bank or Askari Bank.
- Meezan Bank ATMs offer biometric verification for free
- In-App Control Over Debit Cards
Cons
- No iOS support
What is the difference between EMI and Microfinance Bank?
E-money issuers that are not banks are referred to as E-money Institutions (EMIs). There are a variety of low-cost, secure, and user-friendly digital payment options available through EMIs, such as wallets, prepaid cards, and contactless payment instruments like wearables. However, microfinance banks in Pakistan are officially recognized by the country’s central bank as fully functional financial institutions.
A comparison of SadaPay and NayaPay: Which is the best debit card in Pakistan?
Is SadaPay or NayaPay better? Both have benefits, but we’ll help you weigh them more efficiently so you can select the best debit card in Pakistan. In this article, we will examine the similarities and differences between SadaPay and NayaPay in three key areas: app UI, payment network, and biometric verification.
SadaPay VS NayaPay: Which one has the better user interface?
SadaPay’s app will not disappoint you if you value ease of use. It’s an essential app with all the features you need. NayaPay, on the other hand, is reminiscent of a traditional banking app and has a less polished feel.
Which payment system, NayaPay or SadaPay, do you prefer and why?
One key distinction between the two choices is the payment networks used. NayaPay offers a Visa Debit Card that you can get. SadaPay, on the other hand, is supported by MasterCard. If you’re a typical consumer, you probably won’t notice any differences between the two payment methods. NayaPay is compatible with MasterCard, and you can sign up for it using your existing MasterCard account.
NayaPay VS SadaPay: Which one has the better card design?
NayaPay is a debit card that looks like any other. SadaPay, on the other hand, goes beyond conventional payment systems by offering cards with no numerical limits. They’re a massive improvement to the look of debit cards and give them a modern feel. So far, the available hues have been blue, black, and peach. And they all seem to be ill. NayaPay and SadaPay are two of the latest entrants in the banking sector and operate under an Electronic Money Institution (EMI) license.
Conclusion: Should You Get SadaPay or NayaPay?
Overall, SadaPay’s superior interface and card design makes it a top choice.
How to get SadaPay free debit card?
Here are the measures to take to obtain a SadaPay debit card:
- Here’s where you can get the SadaPay app.
- Submit your contact information via phone and email.
- There you have it. Get ready to wait in line for your no-cost debit card.
