Sokin To Launch Enterprise Platform For X-Border Payments

United Kingdom-based global currency account provider Sokin will soon roll out its Sokin Enterprise payment platform, according to a Thursday (April 8) announcement.

Sokin Enterprise lets organizations make limitless immediate payments and foreign exchange transfers for a fixed charge. The offering is set to launch on April 16.

Sokin is bringing its first tranche of corporate clients on board, including the Fulham Football Club, according to the announcement.

“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,” Sokin CEO Vroon Modgill said in the announcement.

Sokin is also at work on further business offerings for sole proprietors and small- and medium-sized businesses (SMBs).

Former British football star Rio Ferdinand is a lead investor in Sokin. Modgill established the company in 2019, which is based in London and has 10 offices throughout the world, according to the announcement.

Separately, European mobile payments firm Settle Group recently teamed with Currencycloud to offer business customers and wallet users in Europe with foreign exchange and international payments.

The tie-up lets Settle expand its payment infrastructure via the enablement of local payouts in places “where Settle is not connected through its own bank partnerships” per an announcement.

Settle built out technology and offerings in-house in the past, so the Settle tie-up marks the first time it has worked with another party to provide a client offering. The integration was said to have taken under two weeks.

Settle Group CEO Daniel Doderlein said in a previous announcement that Currencycloud “provides rock-solid technology and capabilities that help accelerate our business and our abilities to pursue our vision of creating a service that seamlessly integrates with a company’s pre-existing billing flow.”