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, eliminating the need for separate apps or in-person visits.
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. Transfer fees range from $4.74 for bank deposits to $5.74 for cash withdrawals on amounts between $5 and $2,999, with no tiered increases based on the amount.
In Honduras, the network includes over 8,000 bank deposit and cash withdrawal locations, such as Banco Atlántida, Ficohsa, BAC Credomatic, and Elektra. Fees are structured by amount: $5.99 for transfers up to $200, $13.99 up to $1,000, and $32.99 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, including Banco Agrícola, Banco Cuscatlán, Super Selectos, and Walmart. Fees vary by amount and method, with cash withdrawals incurring a $1.00 surcharge compared to bank deposits. For Nicaragua, the network spans more than 5,000 banks and businesses like Banpro, Banco Lafise, and BAC Credomatic, with fees starting at $5.99 for transfers between $100 and $200, and increasing incrementally up to $33.99 for amounts up to $3,000.
Zapp operates as an authorized agent of Spectrum Global Payment Solutions, Inc. (NMLS ID 937914), a licensed money transmitter in Central America. Every transaction is covered by a money-back guarantee. Zapp is not affiliated with Meta or WhatsApp; it simply uses WhatsApp as a communication channel. This expansion is significant as it leverages the widespread use of WhatsApp among migrants and their families to simplify remittances, a critical financial lifeline for millions in Central America. The service aims to provide competitive exchange rates and a user-centric approach, transforming the remittance industry to better serve Latin American families.
