Cash handling company Loomis announced a partnership with Swiss startup Sonect to make cash more accessible to consumers while improving the efficiency of the cash supply chain.
In an interview with CashEssentials exactly a year ago, Sonect President and CEO Sandipan Chakraborty explained that the core of his company is built on a profound trust in cash. Payments expert Chakraborty’s business model was born from a desire to link cash – a very tangible payment method – to the digital world by reducing expenses to all stakeholders along the chain. It’s not surprising that its slogan is “easy cash, everywhere”.
The “Uber of ATMs” as the startup’s CEO likes to call it, Sonect is a mobile app that connects cash-holders to cash-seekers, or rather, connecting merchants wanting to get rid of cash with consumers that need some but that don’t have time to walk to the next ATM.
This partnership will bring advantages to both companies as it will provide Sonect with a wider customer base while offering Loomis access to innovative digital solutions. “We look forward to working with Sonect to develop this platform and make cash even more attractive and available for consumers across Europe and later on in other parts of the world”, stated Loomis President and CEO Patrik Andersson in the Loomis press release.
“With our partnership, Loomis will continue to manage cash in society, while Sonect will provide easy cash everywhere”, added Chakraborty.
So the next time you need some quick money, check if your favorite coffee shop is registered in the Sonect app and simply get some cash back with your latte: as easy as 1, 2, 3.