Sonect is a Swiss company that converts every shop into a “virtual ATM”. This reduces cost of cash distribution for banks and eases up in store cash management for merchants via a location-based on-demand service.
Users of the platform can withdraw cash from any of the participating shops using a smartphone.
Sonect builds a community around local businesses and helps them generate physical leads while banks save up to 50% in running their ATM operations and optimize their presence. Sonect also helps banks expand their services into new regions and increase financial inclusion without any significant capital investment.