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Paymentology Partners with Sokin to Expand its Cloud-Based Payment Solutions

December 5, 2020

Paymentology Partners with Sokin to Expand its Cloud-Based Payment Solutions

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Sokin, a leading financial services provider, enables consumers and businesses to make fast, low cost unlimited global payments and transfers for one low monthly fee, using both wallet and card-based solutions.

Integrating the Paymentology platform into Sokin introduces cutting edge technology for fraud management and capture of real time data, paving a way for adaptive learning and in-depth analytics. Furthermore, as a torch bearer of digitization, Paymentology aims to set a new benchmark for speed to market, for payment products.

The technology embedded in Paymentology will allow Sokin to benefit from next generation API-driven cloud-based solutions opening the way to quickly and efficiently innovate new products.

Vroon Modgill, CEO at Sokin commented: “The knowledge and experience of the team, together with the quality of the platform, made Paymentology the obvious choice for us. The functionality that we have been able to leverage through app-based integrations has meant that we have been able to launch in a significantly shorter timeframe than otherwise would have been possible. That same functionality also puts us in a strong position for launching product enhancements and extensions.”

CEO of Paymentology, Shane O’Hara welcomed the partnership. “Sokin has a global remittance reach into over 200 countries, with the ability to transact in 35 currencies. Our partnership with them gives us the opportunity to introduce the Paymentology brand to new jurisdictions, which is a key ambition of the business. We look forward to working with the Sokin team in bringing both them, and their clients, the market-leading capabilities available through our platform”.

About Paymentology:

Paymentology runs multiple issuer payment card processing platforms across the world, spanning Mastercard, Visa and UnionPay networks. We are recognised as the leading innovator in the sector. We specialise in: Replacing legacy Issuer card processing, Provision of cloud & data centre based processing, Direct transaction injection into bank GL, Delivery of rich card spend datasets to bank, Enablement of very latest cardholder spend controls, and Support of Debit, Credit and Pre-Paid card programmes.

About Sokin:

Sokin is a next generation financial service provider which enables global payments for both consumers and businesses. Sokin believes in giving consumers the power to make payments and transfer money as many times as they want per month for one fee. Whether it’s sending money back home or transfers to friends or even settling with businesses using Sokin is quick and easy.

The current options for transferring money internationally are often complicated and expensive, with often a lack of transparency in the fees being paid. Sokin’s transparent fixed monthly cost, with no hidden charges, allows users to make payments in over 200 countries and exchange money in over 150 countries in more than 35 different currencies.

The Sokin app is available to download and customers can sign up to receive service updates.