Sokin and Mastercard have mutually agreed on a partnership, where Mastercard will help in extending the fixed-price payment solutions of Sokin in African and Middle East emerging markets.
Sokin, an emerging FinTech organization, will bank on card services and digital-first banking services of Mastercard to help outreach its presence and leverage customers and organizations by introducing new-age card programs.
Kaushik Sthankiya, Chief Commercial Officer, Sokin, stated, “The obstacles to accessing opportunities in the global payments ecosystem have resulted in the exclusion of millions of people that are 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, and we’re excited to provide digital payment solutions to people in the Middle East and Africa.”
Sokin Card can be accessed at various locations which consist of 39 countries across the Middle East, South Africa, Africa, Nigeria, and GCC (Gulf Cooperation Council).
The multi-year collaboration of Sokin and Mastercard will be financial aid to over 35 million migrant workers in African and the Middle East regions. Apart from this, the card program also is helpful for those people who consistently receive and transfer money across the globe. Sokin is also aspired to transform the financial solution ecosystem of Africa and the Middle East on a local scale by providing a modern-day banking service.
Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, Mastercard, commented, “As the partner of choice for fintechs around the globe, we are proud to support Sokin’s expansion to the diverse markets in the Middle East and Africa, connecting its people to global payment solutions in a digital-first, transparent and safe way. Mastercard is passionate about driving innovation through partnerships. By combining Mastercard’s trusted and secure solutions with Sokin’s innovative services, consumers will be able to benefit from wider choice and greater convenience.”