Sonect launches international service for cash withdrawals while shopping

Software developer Sonect continues its international expansion and launches a franchise model for cash withdrawals and digital banking in the European Union and other countries worldwide. According to a press release, the model envisages retailers and non-financial companies dispensing cash directly in their stores and offering a selection of banking services.

Retailers and chain stores are to be transformed into accessible ATMs to make it easy to withdraw cash and other banking services in stores, according to the press release. Other banking services should also be possible directly when shopping. To this end, companies and municipalities should network more closely. The company is looking for partners to support the digital financial solution.

According to the press release, the Sonect software can be integrated into existing banking apps. However, Sonect also offers a standalone app that allows users to send money all over the world via Cashlinks and withdraw cash at partner endpoints.

With the franchise concept, Sonect is meeting the growing demand for simple cash and banking solutions in the EU and worldwide. "It allows us to build an international community of local partners who are all committed to improving the convenience and security of cash access and banking services," Konstantinos Birtachas, CEO of Sonect, is quoted as saying.

The company speaks of a win-win situation: "With this model, we are giving local entrepreneurs the opportunity to support us in promoting innovation and economic growth. Our vision is to make our services universally available, anywhere and at any time." ce/heg