Sokin & Mastercard extend alliance to launch fixed-price payment services

Sokin, a leading financial service provider, has recently signed an all-inclusive collaboration agreement with the American multinational financial services corporation, Mastercard, to introduce its set-price payment services in the new markets in the MEA (the Middle East & Africa) region.

As per the credible sources, Sokin will be utilizing Mastercard’s card services and digital-first finance solutions to enlarge its presence and unveil its upcoming card programs for consumers and businesses.

The Sokin Card will be available in 39 countries in the Middle East and Africa, including Nigeria, Gulf Cooperation Council (GCC) countries, and South Africa.

Under the multi-year agreement, Mastercard will partner with Sokin to offer cost-efficient solutions to around more than 35 million migrant workers in the Middle East and Africa, even backing those who transfer and receive money regularly around the world.

Credible sources cite that Sokin also plans to revolutionize the financial services landscape of the Middle East and Africa on a local scale by providing the 578 million population of the region an alternative to traditional banking services.

Chief Commercial Officer at Sokin, Kaushik Sthankiya, said that the complication of being able to access the opportunities in the world of global payments has excluded millions of people who cannot easily and instantly make important transfers and payments.

Kaushik added that the firm has extended this progressive collaboration with Mastercard to amplify financial inclusion and aid customers in accessing a broader range of service products across different markets. Moreover, Sokin is pleased to offer digital payment resolutions to people staying in the MEA region.

Furthermore, this collaboration extends the current agreements announced earlier in the United Kingdom, Europe, Singapore, South Asia, Latin America, Brazil, and Mexico to support consumers in making transactions as per their requirements and terms.

Source Credit - https://ibsintelligence.com/ibsi-news/sokin-increases-payments-partnership-with-mastercard/