soCash is a Start-Up That Aims to Make ATM Machines Obsolete
Laura McQuarrie — March 30, 2017 — Tech
References: socash.io & dealstreetasia
Although many businesses are making a push to go completely cashless, soCash is a firm believer that physical cash is a fixture of modern economy and the demand for it is actually growing. As such, it created a solution for modern cash management.
soCash's platform takes inspiration from P2P and social networks, as well as the sharing economy and digital payments to offer a forward-thinking solution to the problem of getting cash and maintaining the machines that hold cash. With soCash's app, users are able to instantly locate "cash points" where real cash can be withdrawn. This includes everything from cafes, supermarkets or even neighbors who may have physical cash on hand.
soCash has been identified as a start-up that has the potential to make ATM machines obsolete and recently received a sizeable investment from bankers and technologists.
soCash's platform takes inspiration from P2P and social networks, as well as the sharing economy and digital payments to offer a forward-thinking solution to the problem of getting cash and maintaining the machines that hold cash. With soCash's app, users are able to instantly locate "cash points" where real cash can be withdrawn. This includes everything from cafes, supermarkets or even neighbors who may have physical cash on hand.
soCash has been identified as a start-up that has the potential to make ATM machines obsolete and recently received a sizeable investment from bankers and technologists.
Trend Themes
1. Modern Cash Management - soCash's app offers a forward-thinking solution to the problem of getting cash and maintaining machines.
2. P2P and Social Network Inspiration - soCash's platform takes inspiration from P2P and social networks to offer innovative solutions.
3. Atm-replacing Apps - The rise of apps like soCash is disrupting the traditional ATM industry.
Industry Implications
1. Banking and Finance - The investment in soCash by bankers and technologists indicates the potential for innovation in the banking and finance industry.
2. Retail and Hospitality - Businesses in the retail and hospitality industry can benefit from becoming cash points for soCash users.
3. Fintech - soCash's app is an example of the disruptions that fintech companies are bringing to the financial industry.
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