SadaPay vs NayaPay – which one is better?


SadaPay vs NayaPay – which one is better? With the revolution in technology and the growing trend toward the digital economy, payment methods have been updated to be more efficient and secure. The global trend of digital banking has transformed every industry while speeding up the payment procedure. Here is some information about new payment options available in today’s market. SadaPay and NayaPay are two new Pakistani fintech payment gateways that allow customers to receive or pay money using a mobile phone or card. They can help you with your E-business, freelancing, and online shopping. The nicest part is that they allow you to make transactions internationally without having to worry about transaction fees. Isn’t it amazing?

Are you struggling with the thought that which one is better for you? Don’t worry. In this article, you will find a quick comparison of both services, SadaPay vs NayaPay, to help you choose between these two digital payment methods. But, first, you should know what is EMI? What is SadaPay, NayaPay and how it is different from EasyPaisa or JazzCash?

What is Electronic Money Institution (EMI)?

The Electronic Money Institution (EMI) is a non-banking business that is permitted to provide innovative, cost-effective, and user-friendly digital payment methods such as wallets, prepaid debit cards, and contactless payment methods. On the other hand, Microfinance Banks are legitimate banking institutions recognized by State Bank Pakistan.

What is NayaPay?

NayaPay is the first EMI service in Pakistan. It is registered as NayaPay private Limited and is regulated by the state Bank of Pakitan. NayaPay is a cost-effective, efficient, and secure e-money management platform. Money transfers, bill payments, real and virtual debit cards are all available with NayaPay. You can have your e-money account with NayaPay. It relieves you from having to carry your credit and debit cards around with you.

You can make any digital transaction just with the use of your smartphone. Because NayaPay is linked to a 1 link network, you can with cash from any ATM in your area. You can also link your bank account to NayaPay. NayaPay’s major users are small traders, sellers, and owners of small businesses.

Pros

  • Debit Card (both physical and virtual) is for Free.
  • There is no waiting list, and there are no annual fees.
  • Over-the-Counter Cash Deposit at any Askari Bank or Meezan Bank Branches.
  • Free Inter Bank Funds Transfer (IBFT).
  • At each Meezan Bank ATM, biometric verification is available for Free.
  • Control Debit Cards from Within the App.

Cons

  • No IOS support till now.

How to register and get a NayaPay debit card for free?

Follow the procedures below to register and obtain a NayaPay debit card:

  • Click here to access the NayaPay application.
  • Sign up with your information (all you need is NICOP or CNIC).
  • After verification, your wallet will be ready to use.
  • Apply for your free debit card (will be delivered in 4-7 working days).

What is SadaPay?

SadaPay is registered as SadaTech Pakistan Private Limited which was founded in 2019. It is SECP certified and regulated by the State Bank of Pakistan (SBP) SadaPay is a secure and efficient digital money management tool designed to make local and international payments in Pakistan easier. SadaPay provides a variety of financial services, including a digital wallet that enables you to transfer money, pay bills, and receive a real and virtual debit card without paying any registration fee.

SadaPay is a new payment method in Pakistan that makes it easier to pay for your freelance work, online shopping, and online business. The nicest part is that it facilitates international payments to be made without incurring any transaction costs. It successfully removes any payment difficulties by making the procedure easy, whether it’s online shopping, Amazon Prime, Netflix, Scribd’s subscription charges.

Pros

  • There are no numbers on a physical debit card.
  • Both Physical and virtual cards are free.
  • Both Physical and virtual cards are free.
  • Online Payments using a Virtual Debit Card.
  • No annual fees.
  • Each month, you are provided three free ATM withdrawals.
  • IBFT Transfers are completely free.
  • Control Debit Cards from Within the App.
  • Support is available through live chat.
  • Bank-Linking Option to aid quick money transfer.

Cons

  • Currently are in the beta testing phase (not available for public yet)
  • Long waiting list.
  • Biometric verification at nadra e-sahulat is not the easiest verification process.

How to register and get a SadaPay debit card for free?

Follow the procedures below to obtain a SadaPay debit card:

  • Click here to register and download the SadaPay application.
  • Fill out the form with your email address, and phone number.
  • That is all. You’ll have to wait in line to get your free card.

How it is different from EasyPaisa or JazzCash?

Many people misunderstand SadaPay and NayaPay with EasyPaisa, and JazzCash, which are online payment service providers and operate under the Microfinance Banking category. Payments can be sent from one point and received at another. On the other hand, SadaPay and NayaPay are classified as full-fledged Electronic Money Institutions (EMIs) in Pakistan. It is a secure, low-cost, and effective solution compared to others.

As an illustration of its security, if you use NayaPay or SadaPay to purchase a product, both will retain the funds until you get the item and confirm them to pay the vendor. Similarly, if you buy something from Alibaba, the payment is held in escrow until you tell them to transfer it to the vendor. These are some of the features that set NayaPay, and SadaPay apart from Easypaisa and JazzCash.

SadaPay vs NayaPay – which one is better?

Which one has a user-friendly interface?

If you love simplicity, SadaPay will not fail you. Its application is simple and great. The app seems to have a distinctive look, and its appearance is unlike banking apps. while  NayaPay has a look that is identical to banking applications. It looks to be a confusing mess.

Verdict: SadaPay offers a better and more user-friendly interface.

Which one offers a better payment processing network?

SadaPay vs NayaPay – which one offers a better payment processing network? The payment networks used by SadaPay and NayaPay is one of the key differences between them. With NayaPay you will get a Visa Debit Card. SadaPay, on the other hand, supports MasterCard. It doesn’t matter to most individuals whether they get a MasterCard or Visa card. Both are equally reliable and provide similar advantages. Though VISA has a slightly bigger market share and more transactions globally, retailers accept both VISA and MasterCard equally. However, if you already have a Visa card, you can use SadaPay to access Mastercard and vice versa.

Verdict: With both SadaPay and Nayapay you will have access to two of the world’s largest payment processing networks.

Which one offers better security?

SadaPay offers a numberless debit card, which is more secure to use. with high-tech anti-fraud protocols. While NayaPay offers debit cards identical to any other bank. You can effortlessly manage your payments and freeze your card using their app.

Verdict: SadaPay offers a more secure debit card.

Which one offers a better card design?

The card design of NayaPay is standard. SadaPay, on the other hand, takes things to a whole new level by offering the numberless card. They are significantly more appealing and offer Debit Cards a new appearance.

Verdict: SadaPay features a one-of-a-kind card design.

Comparison Chart

FeaturesSadaPayNayaPay
Current StatusPrivate beta testing phase (not available for public yet)Live (available for public)
Available on Play StoreYes (beta testing phase)Yes (live)
Available on Apple StoreYes (beta testing phase)No
IBFT FeesNoNo
International Transaction Fee1.5%1.5%
Cash Withdrawl Fee3 free withdrawals per month & Rs. 18.75 for further transactionRs. 18.75
Over Counter Cash DepositNoAvailable at Meezan and Askari Bank (Rs. 8 charges)
Biometric VerificationThrough Nadra E-Sahulat (Rs. 120 refundable charges)Through Meezan Bank (free)
Debit Card PartnerMastercardVisa
In-App Debit Card ControlYesYes
Numberless Debit CardYesNo
Debit Card Annual FeeNoNo
Debit Card Re-Issuance FeeRs. 500Rs. 595
Virtual Debit CardYesYes

Final Verdict

SadaPay vs NayaPay – which one is better? NayaPay is available for public use. So you can create your digital wallet within minutes and enjoy the services. But, in the case of SadaPay, you will have to wait as it  is in the beta testing phase. This is the plus point of NayaPay. From a features point of view, SadaPay outperforms NayaPay and the majority of other banking applications. SadaPay does not offer a lot of functionality right now, but that will change over time. SadaPay excels in all of the services it now offers, and we expect this to continue when additional features are added in the future.



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