Zapp, a money transfer service that operates through WhatsApp, announced the expansion of its services to Guatemala, Honduras, El Salvador, and Nicaragua. With this expansion, Central American migrants in the United States can now send money to family and friends back home directly through WhatsApp.
Recipients in the new markets can choose to receive their money through either a direct bank deposit or cash pickup at a broad network of banks and retail locations. In Guatemala, more than 15,000 banks and payment locations are available, including G&T Continental, Banrural, Banco Industrial, Elektra, and Banco Azteca. Transfers from $5 to $2,999 incur a fee of $4.74 for bank deposits and $5.74 for cash withdrawals, with no tiered increases based on the amount.
In Honduras, over 8,000 bank deposit and cash withdrawal locations are accessible, including Banco Atlántida, Ficohsa, BAC Credomatic, and Elektra. Fees range from $5.99 for transfers up to $200 to $32.99 for transfers up to $3,000, increasing by approximately $1.00 for every additional $200. El Salvador offers more than 6,000 bank branches and affiliated businesses such as Banco Agrícola, Banco Cuscatlán, Super Selectos, and Walmart. Fees for bank deposits start at $4.99 for $100-$150 and go up to $19.99 for up to $1,500, with cash withdrawals incurring a $1.00 surcharge.
Nicaragua provides more than 5,000 banks and businesses, including Banpro, Banco Lafise, and BAC Credomatic. Fees range from $5.99 for transfers between $100 and $200 to $33.99 for up to $3,000, increasing by approximately $1.00 for every additional $100. Zapp operates as an authorized agent of Spectrum Global Payment Solutions, Inc. (NMLS ID 937914), a licensed money transmitter in Central America, and every transaction is covered by a money-back guarantee.
This expansion is significant because it leverages WhatsApp's widespread use among migrants, eliminating the need for additional app downloads or visits to physical locations. By offering competitive rates and extensive pickup networks, Zapp aims to simplify remittances and reduce costs for families in Central America. The service addresses a critical need, as remittances are a vital source of income for many households in the region.
For more details, visit the Zapp website or contact Yaneiza Echezarraga at yaneiza@twinmindsmedia.com or Claudia Solís at claudia@twinmindsmedia.com.
