London- (commercial thread) -Italy returns to the score with a new access to a monetary solution for all Italians, a solution that will be implemented immediately to guarantee free money nationwide in the United Kingdom. Under its agreement, financial platform specialist Sonect will enable 35,000 lottometric lottery terminals across Italy to operate as ATMs, allowing convenient local access for customers.
With 95% of the UK population living within a mile of a lottery terminal, Sonect believes the technology could provide a simple solution to the UK’s cash crunch. This will increase customer participation in many community stores and make lottery retailers the first choice for free, easy, local cash withdrawals.
research together1 More than 4,000 bank branches have been closed since the beginning of 2015 and more than 500 have been closed since the start of the pandemic.2 Convenient access to money has increased from a peak of 71,000 in 2015 to 54,000 in 2020. latest report3 Only 26% of Britons have disclosed what they call a “cashless community” and more than 40 million British adults still access money.
The UK government is committed to securing access to money, and Sonect’s proposed innovation will be able to deliver on this promise. Switzerland’s Sonect already holds a UK record, being the only overseas company selected to participate in the social outreach for money riders. As a result, Sonect’s new cash pilot program in Purslem and Dunstall, Stoke-on-Trent saw hundreds of locals sign up for the Click & Collect checkout service throughout its two months of operation.
In these cities, the public and retailers are already enjoying the possibility of free payments on the site thanks to the use of Sonect. This allows attendees to withdraw money from multiple participating stores, while providing convenient social access to funds, while helping to reduce the carbon footprint of recycling cash.
95% of the UK population currently lives within one mile of a lottery terminal. The new fleet of major terminals to be installed during the fourth license period of the National Lottery will be able to support the development and adoption of fintech solutions that provide valuable social services.
Comments Ron Telnevo, Director of the UK, Sonect: “In the UK we use the diminished capabilities of modern lottery terminals to provide a wide range of services to social lottery customers. The terminal is an important and important tool for access to funds and other services. Will become convenient local contact points.
“This is a good opportunity to waste. With the new National Lottery Licensing Award, it is time to ensure that there is a lottery terminal revolution when the fourth licensing begins in 2023.
“About 45,000 new terminals are to be installed under the terms of a license issued by the UK Government.
Richard Mason, who runs a parts store in Purslem, says, “The Sonect solution is the best way to convert a lottery terminal into an ATM in my shop. This will help me offer my customers free cash like buying lottery tickets and making any purchases they want. This is especially important after many local bank counters and ATMs are closed, as cash is very difficult, time-consuming and expensive. It will be a hit for the spar and the local community. `
Tony Riaz, who runs OneStop in Purslem, says: “This lottery terminal solution feels like a ‘brainwash’ to me: I already know that my customers want the same speed and convenience as their ability to get some money at the same time. Want convenience. Lottery ticket guarantee.
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Sonect. About this
Founded in 2016, Sonect AG is a fintech based in Zurich and employs over 30 people primarily in Switzerland, Italy and the UK. The company provides a platform that makes financial services easily accessible to anyone, anywhere. With Sonect, every up is a virtual ATM and, thanks to the Sonect utility, withdrawing money is easy, fast and cheap. With over 2,300 partner stores, Sonect already operates one of the largest ATM networks in Switzerland. For more information visit www.sonect.net
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