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Today in the Connected Economy: Mastercard, Sokin to Help Migrant Workers – PYMNTS.com


Today in the connected economy, Mastercard and currency account provider Sokin team up to offer banking alternatives to 578 million people in the Middle East and North Africa (MENA).

Sokin, Mastercard Expand Digital Banking Partnership Across MENA

United Kingdom-based global currency account provider Sokin has expanded its partnership with Mastercard to offer more transparency via fixed-price payment services to consumers in almost 40 new markets in the Middle East and Africa. Mastercard will use the multi-year agreement with Sokin to bring solutions to more than 35 million migrant workers in the region, along with people who routinely send and receive money. The partnership will also work to give the region’s 578 million people an alternative to traditional banking services.

BNP Paribas Becomes Latest Bank to Embrace Blockchain

French bank BNP Paribas has joined J.P. Morgan’s United States-based blockchain-powered network to use digital tokens for short-term trading in the $12 trillion fixed income market. The repurchase market lets investors borrow high-quality assets for a couple of days. About three-quarters of all deals have government bonds as their backbone.

FinTech equipifi Raises $12M for BNPL Bank Service

FinTech equipifi has raised $12 million in Series A funding to continue the launch out its white-label buy now, pay later (BNPL) service to banks and credit unions (CUs). Based in Scottsdale, Arizona, equipifi has already formed multiyear agreements to provide the service for seven financial institutions (FIs), using the FIs’ data and online banking platforms.

Square, VROMO Partnership to Help Restaurants Add Delivery to Menu

Delivery software solution VROMO, which works with the restaurant industry, is joining forces with payments company Square to allow more companies to use VROMO’s delivery and third-party fleet options. VROMO automates delivery management and features order stacking, branded order tracking, messaging for drivers and customers, and more, all with the goal of helping restaurants operate at the best possible efficiency.

RE/MAX Will Accept Payments in Crypto Through Partnership With Swapin

Real estate company RE/MAX will begin accepting cryptocurrency payments thanks to a new collaboration with Swapin, a crypto-to-fiat payments company. The company wants to get into accepting “high-value crypto belongings” in exchange for property and will let purchasers buy properties using crypto for the first time.

Nexi, Piteco Together Launch B2B Solution for Faster Payments

Payments tech firm Nexi has teamed with Piteco, an Italian company offering management and financial planning, to help companies add digital pay solutions to ease supply chain problems. The service provides clients with an extra line of credit along with controlled, automated and secure management of authorization flows in order to improve supply chain liquidity. The integration will let companies access tools to optimize cash flows, scheduling payments in better ways to avoid the impacts of global crises. Businesses will be able to use the credit lines to access timely payments for suppliers based on deferred debt.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022

About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.



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