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Sokin targets business payments

Source: Sokin

Sokin, the new payments-focused fintech, has launched Sokin Enterprise, its global payments platform that supercharges business payments and FX transfers via multi-currency IBAN accounts.

With businesses demanding more value from their banking relationships, Sokin has introduced this innovative solution that enables enterprises to enjoy unlimited payments and FX services for a transparent fixed fee, with no hidden charges. Sokin Business Payments offers enterprises faster, more convenient payments and instant settlement, with all accounts safeguarded by Sokin’s network of global banking partners.

Sokin is onboarding its first tranche of business customers, which includes Fulham Football Club and several large clients, with Sokin Enterprise going live on April 16th, 2021. It will initially be rolled out across the UK and Europe, with Canada and other markets set to follow later this year.

This is just the start for Sokin. The company is working on additional B2B products for sole traders and SMEs, and from June 2021 it will offer consumers unlimited international money transfers and payments with no mark-up on transactions. Sokin is developing a transformative Embedded Finance platform, that looks to rethink the payments ecosystem- from the onboarding of customers to instant payments - all in its advanced peer-to-peer mobile app.

Vroon Modgill, CEO, Sokin, said: “When it comes to making payments, businesses have long suffered from high fees and time-consuming transactions. We’re passionate about providing better business accounts for local and international payments, especially as the global economy works hard to recover from the impact of the pandemic.”

“With Sokin Enterprise one flat fee covers everything that a corporation needs to do in terms of payments and FX, we’re focused on creating an Embedded Finance platform that connects businesses and consumers seamlessly. We’re also developing products for sole traders and SMEs so that we can service all sizes of business.”

Sokin, which counts international football icon Rio Ferdinand as a lead investor, has put in place agreements with Mastercard in Europe, Asia and North America, and will offer payments in 35+ currencies.

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