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Mastercard signs partnership with Asian digital wallet?

May 07, 2020

SadaPay has recently obtained an Electronic Money Institution license from the State Bank of Pakistan

SadaPay and Mastercard

Mastercard signs partnership with Asian digital wallet. Source: sadapay.pk

SadaPay and Mastercard have announced a partnership to carry out faster and safer domestic and cross-border transactions.

According to a statement, SadaPay will not only utilize Mastercard’s innovative capabilities for card issuance. It will also use them as a payment processing platform, thus strengthening Mastercard’s position in the country.

The digital mobile wallet is expected to issue more than 3 million cards during the next 5 years. It would help serve a large segment of the country’s unbanked and underbanked population, with a special focus on solving payment pain points for freelancers and the self-employed.

Pakistan is a rapidly evolving market which currently houses one of the largest population of young people in the South Asian region, and we know that they’re increasingly looking for more tech-savvy and advanced digital payment options that meet their everyday needs. Our exclusive partnership with SadaPay showcases our commitment to enhancing the country’s digital payments infrastructure and to paving the way to a more inclusive society that serves a much wider array of consumer segments. By bringing Mastercard’s pioneering and innovative digital payment solutions to Pakistan, we hope to expedite the adoption of cashless payments in the region and empower greater financial independence for all
Khalid Elgibali, Division President – Middle East and North Africa, Mastercard 

Besides, SadaPay charges no monthly and transaction fees, and account holders are eligible for 3 free withdrawals per month from any ATM across Pakistan.

We’ve reported that Mastercard?has appointed?Mark Barnett as President of its Brussels-based European business. Mr. Barnett will be responsible for the strategy, direction, and overall success of all aspects of Mastercard’s activity across the region.

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Tags: # Mastercard

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