“Click & Collect” Cash trial sees early signs of success
- App-based Click & Collect Cash pilot launches in Burslem and Tunstall, Stoke-on-Trent, with consumers pre-ordering cash for collection at local shops
- Positive feedback paves the way for a larger roll out to other UK locations
The country’s first “Click & Collect” cash service has been up hand running for three months, with shoppers in Burslem and Tunstall, Stoke-on-Trent, now able to pick up cash from a range of stores in the town without making a purchase. The app-based scheme is operated by Sonect, the Swiss Fintech, supported by Loomis, the UK’s largest cash management specialist, and forms part of the Community Cash Access Pilot scheme that is testing innovations that could ensure the UK public retain convenient and free access to cash.
The Sonect App allows customers to confirm on their smartphone which of Sonects retail partners have the cash they want and pre-order it for collection in minutes, free of charge. Early feedback from the trial is positive, with strong demand from customers keen to try out the new technology. So far, after only one full month, the app has had over 400 downloads, with £’ooo made available across the six participating shops.
Eric Massah, who regularly visits Sonect retail partner Beverleys News says “I like Sonect because I can take out a small amount of cash often, rather than making occasional large withdrawals. With Sonect, this is so easy at my community shop. And it is free of charge, unlike some conventional ATMs!”
Tony Riaz, who runs Sonect retail partner One Stop says “This is a really important scheme for the local community around our shop. There are many local people who rely on cash through choice or necessity. Partnering with Sonect means we can help them get all the cash they need to shop and live their lives to the full. The Sonect app makes providing free access to cash easy. It is already making a significant difference and that will grow as more and more of our customers appreciate the benefits of using the Sonect service.”
Simon Wood, Commercial Director of Loomis UK, commented: “Already, at this early stage of the pilot, it is clear that there is an underlying demand for cash, and both businesses and consumers are up for trying new ways to deliver and accept cash. We are delighted to be playing our part in providing this service alongside Sonect.”
Ron Delnevo, UK Director of Sonect, noted: “The feedback on this new service has been fantastic so far. Customers really appreciate the certainty of knowing where and when they can pick up their cash without the obligation to make a purchase. At the same time, our retail partners are benefitting from increased foot fall and more efficient use of the cash in their businesses. I am confident every community in the UK will soon be ready to welcome this innovation.”
James McFarlane / Vikki Kosmalska / Arantxa Arias
+44 (0) 207 379 5151
About Loomis UK
Loomis is the UK’s largest cash management specialist. From secure money safes to intelligent smart safes, cash in transit and cash processing, Loomis supports banks, retailers and other businesses throughout the UK with crucial coin collection and delivery services, along with ATM management and replenishment services. Loomis operates through an international network of more than 400 branches in more than 20 countries. Our foreign currency processing service Loomis FX, and bespoke logistics division Special Services, round off our complete end-to-end cash management offering.
For more information: https://www.loomis.co.uk/
Sonect, a Zurich-based Fintech, was founded in 2016 and employs 30 people in Switzerland, Lithuania, UK and Italy. The start-up provides a platform that makes financial services easily accessible for anyone, anywhere. Through Sonect, every till becomes a virtual ATM, and thanks to the Sonect app, cash withdrawals are simpler, faster and more cost-efficient. With over 2,300 partner stores, Sonect already operates one of the largest ATM networks in Switzerland. For more information visit www.sonect.net