SadaPay itself is not a bank; it's an Electronic Money Institution (EMI). It doesn't operate under a specific bank name. Rather, SadaPay is governed by the State Bank of Pakistan under the Electronic Money Institution regulations.
SadaPay's Regulatory Framework
SadaPay operates under the regulatory framework established by the State Bank of Pakistan (SBP) for Electronic Money Institutions (EMIs). This means SadaPay adheres to SBP's guidelines for secure and reliable financial services. Additionally, SadaPay is registered locally with the Securities and Exchange Commission of Pakistan as SadaPay Pvt Ltd.
Key Points:
- SadaPay is an Electronic Money Institution, not a bank.
- It is regulated by the State Bank of Pakistan (SBP).
- It is registered with the Securities and Exchange Commission of Pakistan (SECP).
In summary, SadaPay doesn't have a "bank name" because it's not a bank. It's an EMI operating under the regulatory supervision of the State Bank of Pakistan.
