Sadapay, a Pakistani fintech company that provides a free debit Mastercard service, has announced that it will no longer be able to provide the service for free due to the worsening economic situation in the country. In a press release, the company stated that it had to make some decisions to adjust to the tough economic situation and maintain its service standards. It added that it realized it needed to make some compromises to ensure that customers’ experience remained amazing. As a result, Sadapay will begin to charge a fee of Rs. 895 ($5.90) plus tax for its previously free debit Mastercard from 3 April 2023.
However, Sadapay’s virtual card, which comes with the account after users sign up, will still be available for free for online payments. The company stated that it understands that many users do not use their physical card frequently and wanted to make sure they could still enjoy the rest of its services with ease.
For existing Sadapay users who already have the debit card, this update will not affect them in any way. However, those who want to order a new card or have one reissued will need to pay the fee.
Sadapay is not the only company in Pakistan that has had to adjust to the economic situation in the country. The economic issues faced by Pakistan have resulted in rising inflation, currency devaluation, and higher import costs, among other challenges. This has made it difficult for businesses to sustain their operations without making significant changes, such as increasing prices or cutting costs.
In conclusion, Sadapay’s decision to charge a fee for its previously free debit Mastercard is a result of the current economic situation in Pakistan. While it may come as an inconvenience for some users, the company has stated that it needs to make this change to maintain its service standards and continue to offer its services to customers.