Endcash, a product of Republic Bank here in TT, is a digital wallet that aims to change how we send, spend, receive and manage our money.

I want to start by telling everybody who is looking to sell goods or products, especially if you are inside one of the many fetes, or a vendor on the road: you need to sign up for Endcash ASAP so that you can offer people a digital way for them to pay you if you do not have a point-of-sale terminal.

Endcash only works with people who have a TT bank account, but it's still better than nothing, even this late in the game for Carnival.

It was launched back in March 2021, and two full years later, it’s still relatively unknown. We are also now seeing other digital wallets coming into the marketplace, with news from Paywise, TSTT and Pesh.

For a long time, we here in TT have been clamouring for solutions that rival popular peer-to-peer apps like Cashapp, Zelle and Venmo in the US. These new digital-wallet solutions are going to fill some of those gaps. Whether they do it successfully and can bring up the adoption rate remains to be seen.

Let me first explain what a digital wallet is: a software application that allows users to store and manage their digital currency, payment card, and personal information.

This information can then be used to make transactions and payments online, in-app, or in-store.

The digital wallet acts as an electronic version of a physical wallet, providing a secure, convenient, and easily accessible way to manage and use your financial information.

Setting up Endcash is relatively simple.

• Download the app or register on the web.

• Add money to your wallet with a credit card or your Linx card.

• Send, spend or receive money from friends/family.

• You can network with other users,

• You can find nearby businesses accepting Endcash on their digital map.

This is what you can do on Endcash for free:

• Open your Endcash account

• Monthly service

• Send money

• Receive money

• Pay for goods and services in-store, online or remotely

• Real-time alerts (uses data from your device)

• 24/7 customer support (normal airtime rules apply)

These actions will incur a charge:

• Loading your wallet – $3.50

• Transfer Endcash funds to your bank account/branch – $10

• Cash out to manager’s cheque: $30 ($10 cash out fee plus $20 manager’s cheque fee)

Daily transaction limits:

• Transfers between users: maximum $1,000 per transfer

• Maximum value of transfers per day: $3,000

• Payment to merchants: maximum $10,000 a day

• Load your wallet: maximum value per load $1,000; maximum per month $10,000

Transaction times:

• Wallet-to-wallet transfers – instantly

• Wallet loads – instantly

• Wallet-to-bank-account transfers – within one business day

• Manager cheque/ cash withdrawal – within seven business days from cash out request

I’ve been using the app since December, and I have a few thoughts.

Whilst it's nice to finally have options in the market, there is room for improvement.

Here is my big pro for the ap