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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