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Fintech payment firm Sokin has signed a partnership agreement with Mastercard in South Asia to provide its fixed-price payment services in India, Sri Lanka, Bangladesh, Nepal and the Maldives. 

Sokin will provide a fixed-fee subscription-based payment service for fast and cost-effective currency exchange with no hidden charges. Mastercard’s global network and extensive reach in South Asia will allow millions of people to access Sokin’s instant payment network using Mastercard’s trusted and secure digital banking solutions and card services.

The collaboration in South Asia follows announcements in November that Sokin will be a Mastercard principal member and card issuer for Singapore and that the two companies have forged a partnership in Europe and the United Kingdom.

“We see South Asia as a key market for Sokin, which is why we continue to build on our strong partnership with Mastercard to deliver our unique services to this region,” said Sokin CEO Vroon Modgill.

Starting in June 2021, Sokin will offer consumers unlimited international money transfers and payments with no mark-up on transactions or hidden fees.

“Mastercard supports innovation and drives technological advances across the entire ecosystem,” said Mastercard Chief Operating Officer, South Asia, Vikas Varma.

Sokin was founded by Vroon Modgill in 2019, the company is headquartered in London and has 10 offices globally.

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