SadaPay Partners With IDEMIA to Revolutionize and Expand Digital Payment Services in Pakistan
18.2.2021 13:59:00 EET | Business Wire | Press release
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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SadaPay was granted approval by the State Bank of Pakistan at the end of 2020 to begin pilot operations. During its pilot phase, SadaPay will offer digital payment services such as allowing users to send and receive local transfers via its app, and issue a Mastercard debit card to its customers. With time, they plan to add more features and products based on user feedback. In fact, the pre-launch demand for SadaPay has exceeded all expectations, and they have almost 200.000 individuals on their waiting list. SadaPay chose IDEMIA’s Global Fintech Accelerator Card Program in order to effectively scale-up and meet these demands.
“We are pleased to work with IDEMIA to commence and eventually scale-up our operations. With IDEMIA’s knowledge of the local market and capability to rapidly respond to our needs, it allows us to focus on our mission of delivering financial services to the wider public that are sada (simple) and inclusive 1 , ” said Brandon Timinsky, CEO and Founder, SadaPay.
A global leader in payments, IDEMIA currently works with over 1,900 financial institutions around the world. The Global Fintech Accelerator Card Program is a fast-track program designed to enable new entrants to the industry, such as SadaPay, to utilize IDEMIA’s unrivalled network of personalization centers and financial services to reach even more customers. With a full service, state-of-the-art card personalization center in Karachi, IDEMIA has been a trusted partner to Pakistani financial institutions for over a decade.
“As a global technology partner to the payment industry, with a strong presence in Pakistan, IDEMIA is pleased to suport SadaPay in its ambitions to grow and extend the availabity of digital payment services to even more people,” said Julia Schoonenberg, Senior Vice President (Middle East and Africa), Financial Institutions, IDEMIA.
For more information on the program, visit: https://www.idemia.com/fintech-accelerator-card-program
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About SadaPay
SadaPay is bringing modern financial services to Pakistan in partnership with MasterCard. By removing the high costs of managing the physical infrastructure of traditional banks from the equation, we can pass those savings onto the customer to provide free financial services. Our mission is to eliminate the complexity of banking and make money so simple that any other way would become unthinkable. SadaPay is now operational and in its pilot phase under supervision of the regulator. The public rollout will begin once the pilot is completed.
About IDEMIA
IDEMIA, the global leader in Augmented Identity, provides a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, an identity that ensures privacy and trust and guarantees secure, authenticated and verifiable transactions, we reinvent the way we think, produce, use and protect one of our greatest assets – our identity – whether for individuals or for objects, whenever and wherever security matters. We provide Augmented Identity for international clients from Financial, Telecom, Identity, Public Security and IoT sectors. With close to 15,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IDEMIAGroup on Twitter
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1 https://sadapay.pk/starting-up-amidst-pandemic/
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Palak.mehta@havasprme.com
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