SINGAPORE -- A Singapore startup recently raised $6 million to keep Singapore and perhaps other Asian nations from falling prey to the global cashless payments steamroller.
soCash is also out to make ATMs unnecessary. Its app allows users to make bank account withdrawals at shops, cafes and grocery stores. The company claims receiving money from merchants is safer than going to an ATM, where pin codes can be skimmed. It might also be easier to find a soCash partner than an ATM since the app points users to the closest pickup point.