Transact Payments will provide flexible European BIN sponsorship and modular payment, debit and prepaid services as part of the Sokin global service. Through its multiple partners, Sokin offers currency exchange in 150 countries with Sokin wallets and cards in 200 countries, covering 35 different currencies.

Sokin international money transfers and payments are accessed through a single monthly fee which cuts out hidden and repeat costs saving customers on average 20% against existing payment solutions. Sokin’s technology makes the process easy, from the onboarding of customers to instant payments, all in its secure peer-to-peer mobile app.

Vroon Modgill, CEO at Sokin, commented: “TPL understands that the world of payments is changing, and consumers want simple, secure and value for money options. This makes TPL the perfect partner for Sokin as we launch our payment services across the UK and Europe. The support and expertise they bring will be essential as we offer a transparent, low cost, way of making international transfers.”

Noel Smith at TPL says: “We are extremely pleased to be partnering with Sokin. The combination of TPL’s experience and Sokin’s innovative approach, will mean this is a partnership that will pay off for both businesses and consumers, by offering a fixed and low-cost international money transfer service.”