Sokin partners with Mastercard to make payments easier across MENA

Monday 23 May 2022 12:44 CET | News

Fintech payment company Sokin has partnered with global card issuer and payments processor Mastercard to expand its payment services across new markets in the Middle East and Africa region.

Sokin will leverage Mastercard’s worldwide network and secure digital-first banking solutions to expand its business and launch new card programmes for businesses and consumers in the area. The Sokin card will be available in 39 countries in the Middle East and Africa, including UAE, Saudi Arabia, Kuwait, Qatar, Nigeria, and South Africa.

The extended agreement will allow companies to collaborate to offer cost-effective solutions to over 35 million migrant workers in the region, while supporting customers who regularly transfer and receive money. Sokin is also looking to improve financial services in the area, by providing them with an alternative to traditional banking services.

The company’s proprietary technology provides secure payments in a universal peer-to-peer mobile app, with no mark-up transactions and hidden fees.

Sokin was founded in 2019 in the UK and its latest collaboration with Mastercard represents an extension of previously announced similar agreements in the UK, Europe, South Asia, and Latin America. 

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Keywords: partnership, cross-border payments, mobile payments, payment processing, online payments, money transfer, financial services, debit card, Issuer, credit card, payments , instant payments, payment methods
Categories: Payments & Commerce
Companies: Mastercard, Sokin
Countries: Africa, Middle East
This article is part of category

Payments & Commerce




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