08 April 2021

Sokin targets business payments

Written By Sokin

Sokin targets business payments

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.

Up Next ...
23 September 2022

Thought Machine partners with Trade Ledger

 Lending technology provider Trade Ledger has partnered with cloud-native banking ...

23 September 2022

Rise Start-Up Academy to focus on laid off talent

Rise created by Barclays has pivoted its Start-Up Academy in ...

23 September 2022

Wise Platform launches “How we’re fixing” series with FinTech experts

Wise Platform, the part of Wise that enables businesses to ...

22 September 2022

Spotlight on… Maria Campbell, Griffin Bank 

Although an emerging and fast-changing sector, many areas of FinTech ...

More in Business

NatWest Business launches campaign for TikTok entrepreneurs

30 June 2022

NatWest has launched a TikTok campaign to reach out to ...

Payhawk raises £83mn for international expansion 

23 November 2021

Payhawk, a Lonon based FinTech, has raised £83mn in its ...

Posted By The Community

Business leader calls on the Chancellor to support share schemes ahead of Autumn Budget.

25 October 2021

“Share schemes are vital to the UK’s pandemic bounceback.”On Wednesday, Rishi Sunak will be unveilin...

Written By: Vestd

Posted By The Community

CIP Founder Recognised in the Forbes 30under30 Class of 2021

27 April 2021

Forbes has recognised Ciaran Savage, founder and Director of UK-based Card Industry Professionals, a...

Written By: Card Industry Professionals

Articles Business

UK Family Business Outlook - Explore the findings from our interviews with family business leaders

15 April 2021

PwC has talked to dozens of family business leaders across the UK. Many had reached a point of infle...

Articles Business

Brexit: Fresh Perspectives

24 March 2021

The UK has left the EU but there remains a vast array of operational and legal issues for businesses...

Thought Leadership Business

Implications of the EU-UK Trade and Cooperation Agreement for Financial Services

12 January 2021

With the EU-UK Trade and Cooperation Agreement of 24 December 2020 ("Agreement"), the UK a...

Articles Business

Taking the fear out of transactional options

09 November 2020

One of the more confident predictions we can make of the coming months is that there will be a rise...

There are no Events in this category