Sokin launches platform to aid business payments

With this platform, Sokin would let organisations make unlimited instant payments and FX transfers for a ‘transparent fixed fee’. As an unregulated startup, Sokin is acting as a front-end to white-labelled electronic payment services offered by Malta-regulated Transact Payments, similar to a recent initiative of Germany’s Pliant. The company will onboard its first tranche of business customers which includes Fulham Football Club and several other large clients. This service will initially be rolled out across the UK and Europe with Canada and other markets to follow later in 2021.

In April 2021, Currencycloud announced a partnership with Norway-based mobile payments company Settle to add foreign exchange and cross-border payments for its wallet users and business customers across Europe. Sokin back in 2020 partnered with Currencycloud to integrate its local payments network onto its money transfer service in 150 countries and 35 currencies.

The company also noted in the press release that it is following and working on additional B2B products for sole traders and SMEs and from June 2021 it will ‘offer consumers unlimited international money transfers and payments with no mark-up on transactions’.