Here in Colombia we have a financial app called Nequi, it creates a virtual bank account that’s tied to your ID, photo and voice, and all you need to open it is a cellphone number and a good enough phone (it even works with some “dumb” phones), to put cash into it you can head to any number of supermarkets and make a deposit at the checkout counter, and to transfer money to and from it all you need is either give your phone number tied to the account, or ask for another Nequi number, it’s an extremely convenient system that has gotten a ton of people into the Colombian banking system.
There’s too issues though: It’s so widespread people no longer carry as much cash, if any, as before, and the app is so in demand that it just sometimes randomly collapses, mostly on weekends but especially during national holidays, so what keeps happening is that a ton of people are suddenly finding themselves locked out of their money right after a restaurant meal, a haircut, a taxi fare, or even a medical emergency, so it’s become sort of infamous for this, to the point there’s websites, apps and social media accounts dedicated just to tell people if Nequi is down or not.
So, once again: Always carry cash on your wallet, a big bill hidden somewhere in your belongings, and change in your model of transportation, as technology is a flimsy thing, while no one will ever reject a nice wad of money.
