soCash is the digital cash circulation platform connecting banks , retailers and individuals for cash & other banking services.
SoCash allows users to withdraw cash from any merchant just like an ATM. The startup uses the user’s bank’s mobile app to let them transfer an amount to the merchant’s bank account. Then the user can pick up the amount in cash from the merchant, providing users with more alternative cash sources.
As for merchants, SoCash provides them with extra traffic in their stores and a new revenue source, merchants get a fee from the startup for every transaction.
Founded in 2016 by Hari Sivan, Rekha Hari and Salil Sankaran, it operates in Singapore, Indonesia, and Malaysia, and aims to create the world’s largest smartphone-based cash network.