Socash, a Singapore-based fintech, is partnering with payment card issuer JCB to offer cardless cash withdrawals to Japanese tourists across Southeast Asia using the Socash mobile app to eliminate high ATM fees. 

To use the service, customers register credit card information on the Socash app, which will allow them to withdraw funds at convenience stores and other outlets using their smartphones. 

"Asean tourism is growing exponentially," Socash CEO Hari said in a press release. "As travel patterns shift beyond popular cities, it's often hard to find an ATM or money changer. This partnership is set to add convenience for travelers and diversify our offerings as we move beyond the conventional foreign exchange services for adventurous people traveling far and wide." 

Since its launch in March 2018, Socash has grown to more than 130,000 customers, processing more than 1.5 million transactions with 1.4 million merchants. The company raised $6 billion in Series B funds in July led by Glory Ltd. and plans to expand to several markets, including Malaysia, Indonesia and Hong Kong. 

The service will utilize tokenization and two-factor authentication for added security.

Cover image: Socash