NayaPay has more features than Sadapay, while Sadapay has an eye-catching user interface and faster transaction times. Both EMIs are licensed by the State Bank of Pakistan and provide mobile payment solutions to users.
Mobile banking and digital banking are exponentially growing in Pakistan. The country had over 66 million bank accounts compared to a population of 227 million, giving it a banking penetration rate of around 29% as of March 2022.
This shows the immense potential for growth in this sector.
Several financial companies and mobile wallets have recently come to the stage bearing perks and services for customers.
Two of the major players in this race are NayaPay and Sadapay.
NayaPay – Overview
NayaPay offers a wide range of services, including bill payment, mobile top-ups, mobile packages, fee payments, and split payments facility. The mobile wallet also offers international transactions via its debit card.
NayaPay is one of the latest entrants to the Electronic Money Institutions (EMIs) authorized by the State Bank of Pakistan (SBP) on August 30, 2021.
The NayaPay website is easy to browse and has a Help Center that allows users to seek FAQs and answers. NayaPay offers two solutions to customers – NayaPay Personal and NayaPay Business (Arc).
The NayaPay Business is designed for corporate and business customers and enables them to receive payments online or via the POS machine provided by NayaPay.
The NayaPay Personal is a tool for users like me to make online transactions with a few taps.
The NayaPay app has a simplistic vibe, appearing rather straightforward with little to no transition effects inhibiting proper user interaction.
Nonetheless, the app functions smoothly with only a few bugs and issues reported by users on Play Store and App Store, including:
- App crashing
- Unable to sign in.
- Locked out of account.
Sadapay – Overview
Sadapay is a simple mobile payment app with limited features but an attention-grabbing user interface. The app has better ratings than NayaPay on Play Store and App Store.
Sadapay was issued the EMI license on April 18, 2022, by the SBP. The mobile wallet is designed to facilitate customers and freelancers in Pakistan.
The word “Sada” means simple, which is a true representation of its application.
The Sadapay website contains FAQs and a Blog that informs users about any developments in the app and guides them on how to use the Sadapay app.
The application is available on Play Store and App Store and has a rating higher than NayaPay, mainly due to fewer errors and bugs.
Sadapay users can receive international payments from 45 countries globally, making it an excellent choice for the large freelancing community in the country.
NayaPay Vs. Sadapay: Comparing the Two
NayaPay and Sadapay are excellent mobile wallets, with NayaPay offering various services compared to Sadapay’s limited mobile top-up and bill payment services.
|Meezan Bank ATMs (Free)
|OTC Cash Deposit
|Meezan Bank and Askari Bank
|Not written on the card
|Written on card
|Mobile top-up and bill payment
|A one-stop solution
|Free ATM Withdrawals
|Yes (3 per month)
|Charges and Annual Costs
|No annual charges
|No annual charges
With several players entering the approved EMI list, the race to become the lead digital payments app has begun in Pakistan.
NayaPay and Sadapay are at the front and launching new features to outflank their competitors. Some of the major differences between the two are listed below.
The rivalry between Sadapay and NayaPay can also be demonstrated by the fact that each has partnered with a different payment processing provider.
While NayaPay is integrated with Visa, Sadapay utilizes the services of Mastercard.
This gives NayaPay an edge over Sadapay as Visa is accepted more globally than its competitor.
The User Interface of the Sadapay app is far superior to NayaPay’s.
The teal and peach color combination is eye-catching, and the smooth transition effects make the user experience worthwhile.
The app is simple and doesn’t include much information on the main page except for some of the past transactions and the available balance.
Users can choose the Load Money or Send & Request options to manage their transactions easily.
The More tab allows users to learn more about the application and its functioning by clicking on any of the tiles listed below the “Learn More” heading.
The payment tab shows the services offered by Sadapay, which the users can choose when they want to make a transaction.
Users can click on the available balance option to manage their virtual and physical debit cards online and to view the card information.
The NayaPay app differs slightly from Sadapay and does not have the same glossy outlook.
It is blander and lists all the offered services on the home page from which the users can select.
The Cards tab allows users to manage their virtual and physical cards and set transaction limits based on their requirements.
The Payments tab lists past transactions via the NayaPay app.
NayaPay uses the traditional horizontal debit card design that is widely accepted across the globe. Each card has the card number printed along with the date of expiration and CVV.
Sadapay debit cards are unique and the first of their kind in Pakistan. The cards are vertical instead of conventional horizontal ones and do not have printed the card number, CVV, and expiration date.
Services and Features
NayaPay completely dominates Sadapay in terms of the total service provided.
While Sadapay offers all basic mobile payment services, such as bill payments and mobile top-ups, NayaPay offers its users a more inclusive one-stop solution.
Some of the services NayaPay provides include:
- Bill payments
- Mobile packages
- Mobile top-ups
- QR payments
- Bill split
- Education payments
- Government payments
- Club payments
NayaPay and Sadapay offer their customers ATM debit cards for free, which they can use for online transactions and POS payments.
All debit cards have a maximum limit of PKR 50,000 per month on their inception, which can be upgraded to PKR 200,000 upon biometric verification.
Since the Sadapay debit card does not have any vital information printed on it, it is more secure than NayaPay debit cards as the card details can only be accessed via the Sadapay app upon biometric or MPIN log-in.
Sadapay facilitates its users with three free ATM withdrawals per month from any ATM out of the 17,000 nationwide.
Additional withdrawals are charged at PKR 23.44 per withdrawal.
NayaPay users do not get this privilege and must pay PKR 23.44 per withdrawal from any ATM in Pakistan.
In its initial days, NayaPay had a long waitlist in which users had to sign up to get the access link to their app after a few months.
Now, users can easily download the NayaPay app and register their accounts.
Sadapay still has a long waitlist due to the long backlog of account opening applications which is one of the reasons why Sadapay is losing market share to NayaPay.
Costs and Charges
The charges of NayaPay and Sadapay are relatively the same, except for the difference in the cost of card re-issuance, with Sadapay charging PKR 750 for a new Mastercard debit card.
In contrast, NayaPay charges PKR 795 for a new Visa debit card.
The charges for IBFT are the same for Sadapay and NayaPay. PKR 25,000 per month is free, while anything above this level is charged at a rate of 0.1% or a maximum of PKR 200 per transaction.
Both mobile payment apps charge a 1.5% international transaction fee for all online international transactions.
A Withholding Tax is charged at a rate of 2% for non-filers and 1% for filers per the guidelines of the income tax laws in Pakistan.
Which One is Better?
Though NayaPay and Sadapay have their strengths and weaknesses, NayaPay comes out on top mainly due to its variety of services.
Sadapay is more efficient and less prone to errors than NayaPay but offers fewer services.
However, the former is constantly improving its offerings and hopes to become a one-stop solution like NayaPay.
Unless NayaPay fixes its key issues and works towards better customer satisfaction, the player will likely lose the game at the hands of Sadapay.
If you found this article useful, please check out more written by me:
- How to Transfer Money Between Easypaisa and NayaPay
- 6 Types of Bank Cards in Pakistan (Established and New)
- 4 Online Ways to Get Virtual Bank Cards in Pakistan
- PayPak Vs. Other Bank Cards (Visa, Mastercard, UnionPay)
- 5 Easy Ways to Deposit Money in Your Easypaisa Account
- JazzCash or Easypaisa? (The Two Largest MFBs in Pakistan)