Connect with us

Hi, what are you looking for?

Kenya

Taptap Send launches its services to Kenya

NAIROBI, Kenya, Feb 3 – The fast growing no fee money transfer service Taptap Send has announced it has launched its services to Kenya.

This will enable the diaspora in the UK and Europe to send money to their
loved ones instantly and affordably straight to Mpesa wallets or bank accounts.

“Taptap Send is on a mission to make remittances to Kenya easier and cheaper in line with the UN sustainable
development goal (<3% of total value transferred). Taptap Send can achieve this with secure technology, online only transactions and community focused marketing. Using word of mouth
referrals both by our friends and family in Kenya and influential community leaders is our way of keeping remittance costs down for everyone,” Darryl Abraham, Africa growth director.

Remittance makes up a significant part of Africa’s main source of currency, contributing to above 5% of GDP in 15 African countries.

The Central Bank of Kenya notes that on average Kenya received more than 200,000 USD monthly, which reached its peak in June 2020 at 288,544 USD.

As a result of the ongoing pandemic, more than ever Africans have leaned into providing support back home through affordable digital finance platforms including Taptap Send.

These remittances help thousands of Kenyan families pay for essential needs such as healthcare, household bills and education.

In line with the UN sustainability goal of reducing the cost of transfers to less than 3% of migrant remittance costs by 2030, Taptap Send has since 2018 contributed to this by providing the opportunity for migrants from the UK to send money home within this threshold.

The app is available for download in the UK on the Apple Store and Google play store for free here.

Advertisement. Scroll to continue reading.

New customers can receive an additional £5 on their first send by using the code PRESS.

Taptap Send is VC-backed (including by Reid Hoffman), rapidly growing app-based solution that lets immigrants send money back home to emerging markets instantly and at very low prices.

Since launching in summer 2018, Taptap Send has moved tens of millions of dollars and reached hundreds of thousands of customers.

Taptap Send is live in seven European countries, supporting payments into Senegal, Mali, Zambia, Guinea, Ghana, Ivory Coast, Cameroon, Kenya, Madagascar, and Bangladesh; with lots more countries launching soon.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...