Republic launches mobile wallet-social media hybrid Endcash

[redmanjp]

Republic Bank on Thursday announced the launch of Endcash, a new digital payment and social hub that it says transforms your smartphone into a highly secure money management tool.

https://newsday.co.tt/2021/03/05/republic-launches-mobile-wallet-social-media-hybrid-endcash/

Republic launches mobile wallet-social media hybrid Endcash
CARLA BRIDGLAL 2 HRS AGO

Republic Bank on Thursday announced the launch of Endcash, a new digital payment and social hub that it says transforms your smartphone into a highly secure money management tool.

The mobile wallet is similar to apps like Apple Wallet and Venmo.

The product is geared towards both individuals and businesses and is accessed through a mobile app. Payments can be between individuals; from individuals to businesses and between businesses. The system uses state-of-the-art encryption and multiple layers of security to ensure the protection of users’ information and transaction details, the bank said in a statement.

Republic Bank executive director Derwin Howell described the app as a gamechanger for the local financial landscape.

“The local payment infrastructure needs to evolve. Going cashless brings significant benefits to users, like speed, security and convenience. If there is one thing the past year has reinforced for us, it’s that cashless and contactless solutions can improve many aspects of our lives,” he said in the statement,

Endcash users will be able to experience touch-free shopping, as payments can be made remotely or in-store by scanning a QR Code.

Among other features, they can also send, request and receive funds seamlessly using the secure transfer feature while also messaging with friends and family.

Anyone with a smartphone, even if you don’t have a bank account, can download the user app from the App Store or the Google Play Store. Your digital wallet can then be loaded using a Visa or MasterCard card issued by any local bank or by receiving funds from someone else’s Endcash wallet.

Endcash provides businesses with a modern cashless and contactless means of accepting payments with the added benefit of a social media connection to their customers.

Merchants will also be able to pay other businesses who are Endcash merchants, for their products and services via the business to business (B2B) feature. The settlement functionality allows merchants to move their Endcash funds to their bank account at their convenience.

The list of merchants who have already signed up is said to be growing daily and currently includes: 2001 Carpet House, Adams Bagels, Bottles & Bites Restaurant, Chef Finbar, Dolce Desserts, Funky Fish, Glorious Bodies, Glorious Minds Day Spa, JCB Apparel, Liurisa Investments Ltd/Perry Ellis Store, Nexx Generation Unisex Beauty Salon, Sacha Cosmetics, Sanrio Surprises/Hello Kitty Store and Shal's Little Pet World & Variety Store.

Learn more by visiting http://www.endcash.com.

[paid_influencer]

waiting on the fees and rent charges.

[2WNBoost]

https://www.endcash.com/home/fee

Here's the breakdown of our Services and Fees
THE FREE STUFF
Opening your Endcash Account FREE
Monthly Service FREE
Sending Money FREE
Receiving Money FREE
Paying for goods and services in-store, online or remotely FREE
*Real-time alerts FREE
**24/7 Customer Support FREE

*Normal data charges from your internet service provider will apply
**Normal service charges will be applied for telephone calls.

THE FEE STUFF
*Loading your Endcash Wallet TT$3.50
Transfer Endcash funds to your bank account TT$10.00

DAILY TRANSACTION LIMITS
Transfers between users: maximum TT $1,000 per transfer
Maximum value of transfers per day: TT $3,000
Payment to Merchants: maximum TT $10,000 per day
Load your Wallet: maximum value per load TT $1,000; maximum value per month TT $10,000

[paid_influencer]

that is on the consumer end, I guess. On the business end, you normally have monthly rental fee, per-transaction fees, and a percentage of your sales going to the bank. Parlors and small food places particularly hate this sheit and have given up their terminals because of the costs associated.

These fees are invisible to the consumer, so the public never really knows the reason why we don't (and we aren't going) to have Linx everywhere.

I wish we could have some transparency about what the costs associated with these programs are really. In the US, you have companies like Square that are very clear about what the fees are. First world in action.

Here our banks prefer to hide the fees behind merchant agreements that aren't even supposed to be discussed in public.

[Duane 3NE 2NR]

This looks very promising!

[pugboy]

Was this developed by wipay?

[Monk BANzai]

Was this developed by wipay?

DAILY TRANSACTION LIMITS
Transfers between users: maximum TT $1,000 per transfer
Maximum value of transfers per day: TT $3,000
Payment to Merchants: maximum TT $10,000 per day
Load your Wallet: maximum value per load TT $1,000; maximum value per month TT $10,000

Seems like a repackaged Wipay.... if so expect the same Sh!tty back-end service.

But

that is on the consumer end, I guess. On the business end, you normally have monthly rental fee, per-transaction fees, and a percentage of your sales going to the bank. Parlors and small food places particularly hate this sheit and have given up their terminals because of the costs associated.

These fees are invisible to the consumer, so the public never really knows the reason why we don't (and we aren't going) to have Linx everywhere.

I wish we could have some transparency about what the costs associated with these programs are really. In the US, you have companies like squareup.com that are very clear about what the fees are. First world in action.

Here our banks prefer to hide the fees behind merchant agreements that aren't even supposed to be discussed in public.

Agreed. I hope this is has a larger impact of Caribbean Integration and a movement to a Single cash for the region as opposed to this archaic TTD/Bds/Jcn currency assholery we've been holding onto like VHS Porn movie tapes.

But i reiterate....if this a front-load for a Wipay driven thing? its tewse. Brong smelly undigested Beef tewse.

[Dohplaydat]

Stay away from wipay like it's the plague....that company is just dispicable.

[paid_influencer]

well I poked around on the website some more. There is a "Go to Business" link in plain black text on the homepage. Loading it takes you to https://business.endcash.com/ .

The last section on that page is

Free and fees

Lots of what we have on the App is free while some transactions incur a small fee. Click here to see what is free and what has a fee.

The "Click Here" text, as you would fully expect from a venture such as this, does not work.

At the very bottom on the page is a Free and Fee link which does work and will take you to https://business.endcash.com/Home/fee.

Receiving a Payment from a Customer TT$0.50
Receiving a Payment from another Business Entity TT$2.00
Transfer Endcash funds to your Bank Account TT$1.00

Daily Transaction Limits

Business to Business Transactions: maximum TT$50,000 per transaction
Customer to Business Transactions: maximum TT$10,000 per transaction

Which is strange, as credit card transaction fees are a % of the total. But actually very good if true.

[adnj]

Installed the app.
Warning pop-up that Developer Mode must be turned off.
Uninstalled the app.

[redmanjp]

What about fees for person to person transactions ?

[adnj]

Moving taxi fares onto this might be interesting.

[pugboy]

remember republic invested in wipay

[pugboy]

republic is a pretty tight ship
i don’t think they will allow any slackness on wipay part

[paid_influencer]

republic is a pretty tight ship
i don’t think they will allow any slackness on wipay part

them might be okay with having a product ready now vs a perfect product later

I checked our the Register form on the Endcash business section and the drop down box for the security question is blank. There is also another blank drop down next to business name. So I can't even register via the register form.

but progress. I could see myself using this for certain online activities, like charity donations, group funding for classes, paying for pizza, etc. Makes much more sense than putting my credit card (or worse yet, debt card) everywhere online.

if this ends up as WiPay 2.0 with an official bank partner, I personally would be happy with that.

[Monk BANzai]

remember republic invested in wipay

heavily so...if not a total buyout on behalf of the Guardian Group.

[Redress10]

Republic bank is not TT Gov via CL financial?

You all ok with a government bank promoting "cashless" when we have seen what takes place in China? Fees being deducted automatically for jay walking etc via facial recognition technology etc?

[paid_influencer]

Republic bank is not TT Gov via CL financial?

You all ok with a government bank promoting "cashless" when we have seen what takes place in China? Fees being deducted automatically for jay walking etc via facial recognition technology etc?

police does go in poor people place and seize money all the time. "how allyuh poor people get that morney! We taking that as evidence!" the press release does say. The morney likely safer in Endcash tbh.

also, the govt sold all the clico remnants IIRC. All them shares in private, well-connected hands right now.

and some fellas here would salivate at the thought of the govt extracting fines via facial recognition.

[supercharged turbo]

Has anybody here used Endcash as a customer and/or implemented it into their business?

[nemisis]

Has anybody here used Endcash as a customer and/or implemented it into their business?

As a business what merits are there?

[st7]

Has anybody here used Endcash as a customer and/or implemented it into their business?

As a business what merits are there?

apparently transactions paid to the business only costs the business $0.50

compare that to credit card transactions, that aint bad

[Zim]

So screw the non cc users?

[st7]

you can load cash to your account with the new debit card as well.

[redmanjp]

Anyone know any business taking Endcash?