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Sokin to expand in Brazil and Mexico

Mastercard is supporting the fintech under its Fintech Express Program and enables the company to expand

Sokin, payments focused fintech, has begun its Latin America expansion into Brazil and Mexico following the partnership with Mastercard, according to the media. It is to provide fixed-price payment services for cost-effective currency exchange without hidden charges across the countries.

Mastercard supports Sokin under its Fintech Express Program and enables the company to expand its global presence further and launch its next-generation card programmes for consumers and businesses pan Latin America.

Vroon Modgill, chief executive officer of Sokin, addressed the media and said, “The barriers to accessing the global payments ecosystem have resulted in many millions being unable to easily, and instantly, make essential payments and transfers.” He further added that they had launched this partnership with the financial services company to boost financial inclusion to allow its customers to access a wide range of financial service products across various markets. Together, the firms are trying to simplify and democratise the process and provide digital solutions to the population of Mexico and Brazil.

Thiago Dias, vice-president of Fintech Strategy and Labs for Latin America and the Caribbean, also stated that Sokin is a partner of choice for fintech worldwide and to support its expansion will bring its innovative approach for global payments solution in a digital-first, transparent and safe way.

It is to note that apart from launching its services later this year, Sokin has also put in place similar agreements with Mastercard in Europe and Asia. It includes the November 2020 announcement that the company will become a Mastercard principal member and card issuer for Singapore. The company card is currently available in 80 countries and Wallet in 200 countries and territories.

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