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Nowadays, most people think that financial inclusion is merely based on having a bank account. But what happens after you have one and need to withdraw cash at night, after work, when the banks are closed? Or if you need to pay a check and just can’t go to the bank at that moment?
Most people will say the immediate response to those problems can be solved with technology and online banking, but the reality is that millions of people around the world still use cash for their everyday needs, and just excluding them isn’t an actual solution.
According to the American Bankers Association, mobile banking is the preferred method for newest generations, for example: 63% of Gen Z use their phone for finances, 67% of Millennials, and 56% of Gen X.
Even though the percentage of people who indeed use their phone as their primary finance and bank method, there is still a large amount of people who don’t, and that’s where financial inclusion needs to enter, not just by excluding the smaller groups, but by finding an alternative that can benefit us all.
What could we actually do to solve this problem?
While most people thought the only solution to this problem was to make everything tech-based, PointsKash, a financial services platform connecting payments, cash, and loyalty rewards through kiosks and a mobile app, realized that financial services should adapt to the way people live their daily lives, not the other way around. It should be easy for everyone to access their own money regardless of where they are at, what hour of the day it is, or whether they want to do it online or physically.
Their CEO, Michael Herron, narrowed it down perfectly: “Financial services should fit naturally into their lives. Whether someone prefers cash, a debit card, a mobile wallet, or digital assets, they should have the freedom to manage their money in a way that’s convenient and practical for them”.
This approach reflects how financial services are being designed nowadays, moving away from the idea in which everyone should have the same type of financial service so it all works the same. For PointsKash, it shifted into a more flexible model and ecosystem that accommodates different habits and preferences, rather than treating digital and physical services as separate alternatives. Connecting both can create more opportunities for people to access and manage their money in ways that feel natural to them.
Ultimately, the goal is not simply to make financial services more technologically advanced, but to make them more accessible and relevant to everyday life for all customers.
Merging both worlds
As we now know, trying to go fully into the digital industry or avoiding technology and keeping up with the traditional physical bank service are not long-lasting or secure options—both of them end up excluding an important segment of the population. That’s why merging both worlds, instead of trying to stick up just to one, has become one of the best alternatives.
But how can we do it all, and still make finances adjust to people’s lifestyle and not the other way around? It basically comes down to just paying attention to what people do on a daily basis, and seeking opportunities in which finances could enter without disrupting someone’s day to day.
Herron continues, “Think about the convenience store down the street or the gas station you visit every morning. These are places people know, trust, and visit regularly. Now imagine being able to walk into one of those locations and, through a single self service kiosk, withdraw cash, pay bills, cash a check, transfer money, purchase cryptocurrency, or access other everyday financial services. Consumers could access many of those services in one familiar location.”
All of this matters while still being able to access your bank through your phone.
As these developments suggest, financial inclusion is indeed a hard task, but not an impossible one. Being able to understand what people need and giving actual solutions for them, without leaving groups aside or excluded, is key for today’s needs.
That’s why it’s so important to have both options available for all customers.
“Through our KashPoint kiosks and retail technology, we’re creating physical access points where consumers can conduct everyday financial transactions. Through our PK Pay mobile application, we’re developing the digital capabilities that allow consumers to manage and move their money beyond the physical retail location,” Herron added.
What does the future look like?
The financial world is moving faster than ever. According to McKinsey’s 2025 Global Payments Report, the payments industry is evolving, and financial services have been integrated into platforms and networks beyond traditional financial institutions.
This shift also reflects the vision that CEOs like Herron have for what’s coming next.
“We’re developing an integrated financial services ecosystem through our KashPoint kiosks, KashPoint Express retail technology, and our PK Pay mobile application. What’s especially exciting is that we’re not just focused on placing machines in stores. We’re focused on creating a connected financial network that bridges physical retail locations with the digital economy,” he explained.
The future of finances may not be about choosing between digital innovation and the classical, physical services, but about being able to make both of them work together according to people’s needs. At the end of the day, innovation only makes a difference when people can actually use it.