The way consumers access cash has evolved significantly as digital banking and mobile payments become more prevalent. Cardless cash withdrawals have emerged as a convenient alternative to traditional ATM transactions, allowing consumers to access funds using smartphones and digital banking applications. Retailers, financial institutions, and fintech companies have increasingly collaborated to expand cash access beyond conventional bank branches and ATM networks. Early initiatives such as the partnership between 7-Eleven and soCash demonstrated how digital technology could transform everyday retail locations into convenient cash access points for consumers.
As part of continued efforts to elevate customer convenience through digital transformation, 7-Eleven is pleased to partner with FinTech start-up, soCash, to offer cash withdrawal via the latter’s mobile app. This cardless cash withdrawal service has been available at all 7-Eleven stores from 1 June 2018.
The collaboration will see soCash’s proprietary digital cash circulation platform integrated into 7-Eleven’s retail network of more than 370 stores island-wide. This will enable customers to effortlessly withdraw money, with the condition of any in-store purchase, while using just their soCash app on their smartphone.
The app, which was launched by soCash in 2017, works by selecting the amount they wish to withdraw via its mobile app and selecting a nearby 7-Eleven store to collect cash. The cashier will then scan the unique QR code on the mobile app without the need for an ATM card or a PIN code. The service is secure, convenient and available around the clock and provides access to “cardless” cash withdrawal network for the following banks – POSB, DBS and Standard Chartered.
To encourage the digital savvy consumer to sign up for this service, soCash is offering an attractive incentive of $5 cash back for new users.
7-Eleven’s collaboration with soCash enables Singapore’s leading convenience retail chain to further enhance its progressive differentiated value proposition as the preferred destination of convenience for its wide offering of basic banking and financial services.
For soCash, it also signifies a key milestone in their stellar growth as it will boost the home-grown start-up’s distributed cash network to more than 1,000 locations in Singapore.
Steven Lye, Managing Director of 7-Eleven Singapore explained, “We are always striving to bring more convenience and digital innovations to our customers. Through our partnership with soCash, we aim to better meet our customers’ ever-evolving needs by moving beyond our core offerings, at the same time providing rudimentary banking and financial services”.
This latest cardless cash withdrawal service joins a gamut of other banking and financial services offered by 7-Eleven, this includes cash withdrawal service for POSB, DBS, UOB, OCBC and HSBC users.
Meanwhile, Mr Hari Sivan, founder and CEO of soCash, said that the partnership showcases 7-Eleven’s commitment to embrace digital innovation while improving its services for today’s consumers embracing digital banking in a big way. “soCash is a distributed cash network connecting banks to retailers using Singapore’s digital payment infrastructure. While smartphone becomes the primary banking touchpoint for many, finding an ATM or queuing up is often a hassle. By utilising our digital platform, 7-Eleven is redefining ‘convenience’ in their stores and – as shoppers now have a one-stop avenue to withdraw cash 24/7, purchase essentials at any 7-Eleven outlets and benefit from the in-store promotions in the outlets. Why hunt for an ATM or spend time queuing up every time you need cash? With this partnership, cash is really just around the corner for everyone.”
Looking Back: The Rise of Cardless Banking
When soCash launched its cardless cash withdrawal service through 7-Eleven stores in 2018, mobile banking adoption was accelerating but still developing. Since then, consumers have become increasingly comfortable using smartphones for banking, payments, and account management. Financial institutions around the world now offer cardless ATM withdrawals, QR code-based transactions, and mobile-first banking experiences designed to reduce reliance on physical cards.
Cash Access in a Digital Banking World
While digital payments continue to grow, cash remains an important payment method for many consumers. Financial institutions and fintech providers have therefore focused on expanding convenient cash access options beyond traditional ATMs. Retail locations, convenience stores, and merchant networks increasingly serve as extensions of the banking ecosystem, providing consumers with flexible ways to withdraw cash while reducing the need for costly ATM infrastructure.
The partnership between 7-Eleven and soCash highlighted an important shift in how consumers access cash in a digital banking environment. Today, cardless cash withdrawals, mobile banking applications, and expanded retail cash access networks have become increasingly common as financial institutions seek to balance digital convenience with consumers’ ongoing need for cash. As fintech innovation continues to reshape banking services, retailers may play an even larger role in providing convenient and secure access to financial services outside the traditional branch and ATM network.
Article updated: June 2026
