Sokin and Mastercard extend payments partnership to LATAM

By Pavithra R

Sokin, a leading financial service provider that enables global payments for both consumers and businesses, has announced signing a comprehensive partnership agreement with Mastercard to provide its fixed-price payment services across Mexico and Brazil.

The new announcement builds on existing partnerships previously announced in the UK, Europe, South Asia and Singapore. The two companies have extended their partnership to help consumers make transactions on their own terms. Mastercard will be supporting Sokin under its FinTech Express program, enabling Sokin to further expand its global footprint and launch its next-generation card programmes for both consumers and businesses throughout the LATAM region.

“The barriers to accessing the global payments ecosystem have resulted in many millions being unable to easily, and instantly, make essential payments and transfers.

We’ve launched this progressive partnership with Mastercard to boost financial inclusion, helping our customers to access a wider range of financial service products across different markets. Together, we are simplifying and democratising the process, and will be able to provide digital payment solutions to people in Mexico and Brazil,” said Vroon Modgill – CEO, Sokin.

Sokin has collaborated with Mastercard to make payments more open and transparent, removing the barriers that have historically hindered access and financial inclusion. As the first global payments platform to provide fixed-fee payment service for cost-effective currency exchange with no hidden charges, Sokin will leverage Mastercard’s trusted and secure digital-first banking solutions and card services to expand its footprint and launch its next-generation card programs for businesses and consumers.

“As the partner of choice for FinTech around the Globe, we are proud to support Sokin’s expansion in Latin America and Caribbean to bring its innovative approach for Global payment solutions in a digital-first, transparent and safe way. Innovation and Inclusion have always been the drivers of how we frame our partnerships, and it is not different in this case.”, said Thiago Dias, VP of FinTech Strategy and Labs for Latin America and Caribbean.

Mastercard is a global technology company in the payments industry. The firm is committed to building a more inclusive digital economy that works for everyone. It is also making Environmental, Social, and Governance (ESG) central to its business model.