Sokin to use IDEMIA’s recycled plastic payment cards for all international markets
Sokin is set to be one of the first new-generation financial institutions to issue recycled plastic payment cards in over 200 countries. Backed by IDEMIA, the global leader in Augmented Identity, and thanks to IDEMIA’s eco-friendly offer, GREENPAY, Sokin will be able to slash plastic waste and reduce carbon emissions. GREENPAY reflects IDEMIA’s determination to accompany financial institutions in their eco-friendly strategy and this launch showcases and puts into practice Sokin’s pledge to adopt green business solutions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201207005314/en/
(Photo: Business Wire)
Sokin will use IDEMIA’s card which is made of over 85% recycled PVC derived from production waste. This will curb natural resource consumption and waste in line with circular economy principles, allowing responsible use of resources without compromising on quality or security. The GREENPAY recycled PVC card is the latest development from R&D experts within IDEMIA. The development required close attention to the selection of raw materials, manufacturing and assembly processes to ensure the high quality of the card be maintained throughout its lifetime.
Vroon Modill, CEO at Sokin, commented: “Each year 6 billion plastic payments cards are produced, and as we prepare to launch, we don’t want to add to the problem. We will offer currency exchange in 150 countries with wallets and cards in 200 countries, so have opted for payment cards made from eco-friendly materials. We are confident that our clients will see this as an additional positive reason to choose Sokin alongside our low-cost solution and simple and easy to use payment services.”
The Sokin service is based on a global currency account which in addition to providing secure, easy to use, low-cost payments, offers accessible neo-banking services. Sokin international money transfers and payments use a flat monthly fee, which cuts out hidden and repeat costs and could save customers on average 20% vs. other payment providers.
IDEMIA’s Executive VP Financial Institutions Amanda Gourbault said: “Teaming up with Sokin testifies that our GREENPAY package appeals to FinTechs. We will tap into the power of our FinTech Accelerator Card Program to support Sokin’s plans to expand globally and get their products to market quickly. Our alliance will ensure that the time from cardholder onboarding to card issuance is minimised, and that Sokin can rapidly issue payment cards around the world. Given that fintechs are increasingly looking towards more environmentally friendly solutions, we are excited to offer them sustainable alternatives.”
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. (Subject to, and pending, local licencing and regulatory requirements).
Sokin is a Mastercard Singapore principal member and has announced affiliate programmes with Mastercard for the UK and Europe where the Sokin Payment Card will be issued by Transact Payments Limited and licensed by Mastercard International. The partnership will be supported through Transact Payments in the UK and Europe. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated. Cards provided to EEA residents will be issued by Transact Payments Malta Limited and cards provided to UK residents will be issued by Transact Payments Limited pursuant to licences by Mastercard International. Transact Payments Malta Limited is duly authorised and regulated by the Malta Financial Services Authority as a Financial Institution under the Financial Institution Act 1994. Registration number C 91879. Transact Payments Limited is authorised and regulated by the Gibraltar Financial Services Commission.
For more information, please go to www.sokin.net
IDEMIA, the global leader in Augmented Identity, provides a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, an identity that ensures privacy and trust and guarantees secure, authenticated and verifiable transactions, we reinvent the way we think, produce, use and protect one of our greatest assets – our identity – whether for individuals or for objects, whenever and wherever security matters. We provide Augmented Identity for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
With close to 15,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IDEMIAGroup on Twitter
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AGCO Announces Organizational Update25.1.2021 22:31:00 CET | Press release
AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions, today announced intended changes and recent additions to its senior leadership team to further increase customer focus and strengthen investment in precision agriculture and digital solutions to maximize stakeholder value. Robert Crain will be the Senior Vice President leading the newly formed Customer Experience team charged with delivering the best end-to-end customer experience in the industry. Seth Crawford has joined the senior team in the new role of Senior Vice President, Precision Ag and Digital to reinforce AGCO’s commitment to delivering industry-leading, smart farming solutions. Following a successful, 22-year tenure at Deere & Company, Mr. Crawford joined AGCO in 2019 to lead its Fuse Connected Services and Technology division. Additionally, other members of the senior team will assume worldwide responsibility for AGCO’s core brands to maximize brand value
Mytheresa Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional American Depositary Shares25.1.2021 22:15:00 CET | Press release
MYT Netherlands Parent B.V. (“Mytheresa” or the “Company”), the parent company of Mytheresa Group GmbH, today announced the closing of its initial public offering of 17,994,117 American Depositary Shares (“ADSs”), representing 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs, representing 2,347,058 ordinary shares, at a public offering price of $26.00 per ADS. The Company sold 14,233,823 ADSs in the offering and its sole shareholder sold 3,760,294 ADSs in the offering, including 586,764 ADSs sold by the Company and 1,760,294 ADSs sold by the sole shareholder pursuant to the exercise in full of the underwriters’ option to purchase additional ADSs. Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as lead joint bookrunning managers and representatives of the underwriters for the offering. Credit Suisse Securities (USA) LLC and UBS Securities LLC acted as joint bookrunning managers for the offerin
UAEREP Launches Fourth Cycle and Starts Receiving Project Proposals25.1.2021 17:11:00 CET | Press release
The UAE Research Program for Rain Enhancement Science (UAEREP) announced the launch of its fourth cycle at the fifth International Rain Enhancement Forum (IREF), convened virtually under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs. Submissions are open to innovative project proposals from across the globe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005618/en/ UAEREP’s 4th Cycle Now Open! (Graphic: AETOSWire) The program offers a grant of up to US$1.5 million, distributed over three years with a maximum annual amount of $550,000 for each winning research proposal in the rain enhancement field. Over its past three cycles, the program has provided grants to nine ground-breaking projects that covered different fields related to rain enhancement and weather modification research. Interested academic institutions, research centers and ot
PPG Donates Coatings, Sealants to Help Restore Douglas C-54 Skymaster Aircraft25.1.2021 17:02:00 CET | Press release
PPG (NYSE:PPG) today announced that it recently supplied coatings and sealants to help restore a 74-year-old, four-engine transport aircraft – the Douglas C-54 Skymaster, serial number 56498. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005599/en/ PPG today announced that it recently supplied coatings and sealants to help restore a 74-year-old, four-engine transport aircraft – the Douglas C-54 Skymaster, serial number 56498. (Photo: Business Wire) Manufactured in 1945, the aircraft was used by the U.S. Army Air Force as a workhorse to transport medical supplies, troops and military equipment during World War II, the Korean War and the Vietnam War. It left military service in 1973 and was flown as a sprayer from 1975 to 1985. After its first restoration was completed in 2002, the aircraft was flown to England to be featured in a film about the Berlin Airlift. The film was cancelled, and the C-54 Skymaster sat exposed
E-Fuel Corporation: “Rejected Energy” the Real Culprit Behind Climate Change and How to Stop It25.1.2021 17:00:00 CET | Press release
The E-Fuel Corporation, a Texas-based technology firm, has come up with a revolutionary way to repurpose the largest energy source on the planet ‘rejected energy,’ which experts have identified as a leading cause of climate change. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005050/en/ The E-Fuel Corporation has come up with a revolutionary way to repurpose the largest energy source on the planet; rejected energy. (Photo: Business Wire) According to research conducted by the Lawrence Livermore National Laboratory and the US Department of Energy, rejected energy accounted for an astonishing 67.5 percent of the total energy consumed within the US in 2019. To put this in simple terms, if you placed three gallons of fuel into your vehicle, only one gallon provides mechanical energy to rotate the wheels and the remaining two gallons are rejected through the radiator, tailpipe, and engine friction heat into the atmosphere
Mawi DNA’s Extractionless Sample Collection Technology Enables BioTech Africa Launch of Affordable COVID-19 Mass Testing Platform25.1.2021 15:00:00 CET | Press release
Mawi DNA Technologies’ iSWAB-Microbiome-EL sample collection technology enables BioTech Africa to implement and launch a new ultra-high throughput COVID-19 testing program. This breakthrough, in conjunction with the ProbeSure™ COVID-19 One Step RT-PCR Kit from 3CR Bioscience, is designed to scale up to a capacity of 200,000 tests per day. “We are extremely proud and humbled to be part of South Africa’s fight against COVID-19 through BioTech Africa’s mass testing efforts,” said Dr. Bassam El-Fahmawi, President and CTO, Mawi DNA Technologies. In addition, Dr. Jenny Leslie, COO of BioTech Africa, worked closely with Scilutions Labware and Hook Diagnostics to identify the best products and supplier partners who could provide reagents to streamline the testing workflow, but also scale to the projected numbers with minimal supply chain disruption. “For the sample collection step, Mawi DNA Technologies’ iSWAB-Microbiome-EL (‘Extractionless’) product was chosen for its multiple benefits. This
ServiceNow Helps Solve Challenges to Quickly Vaccinate People Against COVID-1925.1.2021 15:00:00 CET | Press release
ServiceNow (NYSE: NOW), the leading digital workflow company that makes work, work better for people, today announced new workflow solutions to help organizations get people vaccinated quickly. These solutions address vaccine management challenges at scale by removing logistical barriers to speed up the immunization process. The State of North Carolina Department of Health and Human Services and NHS Scotland are among the more than 100 organizations currently working with ServiceNow on their vaccine management efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005198/en/ ServiceNow Vaccine Administration Management Solution (Photo: Business Wire) “Quickly developing effective vaccines was the world’s first challenge, and the scientific achievements have been outstanding,” said Bill McDermott, president and CEO of ServiceNow. “The world must now rise to the second challenge, getting people vaccinated quickly. “Dist
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom