CCP approves SadaPay acquisition

KARACHI: The Competition Commission of Pakistan (CCP) has approved the acquisition of SadaPay Technologies Limited by Turkey-based PPR Holding AS.

Under the share purchase agreement, PPR Holding will acquire 100 per cent of SadaPay Technologies Limited, a Dubai-incorporated entity and the parent company of SadaPay (Private) Limited, a key player in Pakistan’s fintech industry.

PPR Holding, a prominent investment firm specializing in financial institutions and technology companies, will now directly control both SadaPay Technologies and its Pakistani subsidiary, SadaPay (Private) Limited. SadaPay (Private) Limited offers financial services such as a Mastercard debit card and a digital wallet, contributing to Pakistan’s growing digital financial landscape.

The CCP’s assessment categorized the relevant market as ‘electronic money institutions’ (EMIs) in Pakistan. SadaPay’s market share in digital transactions remains minimal and will not significantly change post-acquisition.

The CCP concluded that the transaction would not lead to market dominance, as defined under the Competition Act, 2010.This strategic move by PPR Holding is set to introduce advanced technologies and enhance customer service standards in the fintech sector. It also highlights Pakistan’s attractiveness as a growing market for international investment and technological advancement in digital payments.