6 reasons why you should have a Mobile Wallet

We never leave home without our wallet or cell phone. So why not have your wallet on your cell phone?

While the concept of a mobile wallet is fairly new to the Caribbean, the technology has been around for some time and has proven to be safe and practical. Here’s a few of the many advantages and uses of a mobile wallet:

1. Security: Your physical wallet is vulnerable to theft, but your mobile wallet is not. Even if you misplace your phone, your mobile wallet's security settings ensure that only you have access to it. As a result, no one can simply reach in and take your debit card or credit card. Besides that, the account number is not communicated when data is transmitted via a mobile wallet for payment purposes. To ensure security, encrypted payment codes are used instead.

2. Easy and quick: When you use a mobile wallet, you don't have to enter your card number, expiry date, CVV code, and other information every time you make a purchase. The first time you enter your information, it is converted to a secure token, and your payment is processed with a single click using this token. Furthermore, instead of digging through your bag for your wallet when you're in a store, just pick up your phone, which is always handy, scan the QR code, and you're done. It's really that simple!

3. Accessibility: Having all of your card information in one place makes day-to-day transactions easier to process. Furthermore, your phone is always within reach, serving as more than just a communication device.

4. Flexibility: A mobile wallet can be used for various transactions, such as buying groceries, purchasing movie tickets, bill payments (electricity, water, cable, etc.), buying tickets for flights, and even transferring money. These days the reach of a mobile wallet has gone far and wide.

5. Convenience: Transactions can be completed instantly with mobile wallets. You're done with a few taps and clicks here and there. There will be no more long lines or trips to the ATM to withdraw cash. Nothing beats the satisfaction of getting what you want in a timely and convenient manner.

6. Discounts and giveaways: Mobile wallets often have promotions, Reward Points, ‘CashBack’, bonuses, gifts, and other incentives that can save you money. For instance, Endcash currently has their ‘Festival of Free’ campaign in full swing where they have partnered with multiple merchants in various industries to offer special prizes and discounts to their users.

Endcash, powered by Republic Bank, is a mobile wallet and social hub that turns your phone into a secure money management tool. Much more than just an app that facilitates payment, Endcash also allows users to chat with each other, send money to peers and has a Newsfeed where you can stay up to date on trending topics which may be of interest to you. This was launched one year ago in Trinidad and Tobago and is expanding to other countries soon.

Learn more about Endcash by visiting https://www.endcash.com/

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