Next Global Hot Thing ×
SONECT reduces the cost of cash distribution for banks and simplifies in-store cash management for merchants via a location-based on-demand service that allows its users to withdraw cash from participating shops without a physical ATM.
Sonect AG impressively demonstrates how innovative and at the same time impressively simple idea is revolutionizing access to cash. Cash is still by far the most widely used means of payment worldwide, both in the home country and when traveling. However, ATMs, which are expensive for banks, are not always easy to find and are associated with additional costs for customers. Sonect offers a platform that shortens the path for cash seekers and makes it easier for providers to handle cash and generate new customers. Sonect has been consistently positioned as a global, open "sharing economy platform" and is very successful two years after its launch in Switzerland and internationally. The growth rates and customer satisfaction are impressive.