Taptap send us plus#

The last year has been a difficult one, and especially painful for those that lost loved ones or saw their lives turned upside down. Especially now - digital financial inclusion has been essential in a world of lock downs and COVID We’re proud to be the only remittance company (of which we’re aware) that has publicly committed to hitting that goal. The cost of global remittances is simply that important to the reduction in inequality. So it should come as no surprise that the United Nations included lowering the price of remittances to 3% as a top-level indicator to “reduce inequality” among their Sustainable Development Goals. And they’re growing quickly: more than 7x since 2000 2.

Taptap send us plus#

Why it matters - remittances are the primary source of capital for low income countriesĬross-border payments are not only a large market - $540B through formal channels alone, with the informal sector estimated to be almost as large - but are also the central source of capital for low and middle income countries: remittance inflows exceeded foreign direct investment plus official development assistance in 2020. Building that infrastructure, and translating it into a better experience for customers, was a challenge we wanted solved- especially now, in an era of anti-immigrant backlash. This may sound surprisingly obvious, commonplace and even easy, but in the markets we’re working it requires significant behind-the-scenes financial and technical infrastructure to make it possible, along with an expansive network of international partners. More specifically, it has allowed us to offer a simple, rapid, no-fee 1, mobile-to-mobile remittance service focused on those from underserved markets. The mobile money revolution, by which more than a billion people have gone from no financial access to a digital bank in their pockets, has made this possible. GiveDirectly first did this for philanthropic capital Segovia for businesses, and now, Taptap Send for individuals. Simply put, Taptap Send is the next chapter in a journey with co-founder Paul Niehaus to make it as cheap, fast and convenient to transfer money into the emerging markets as possible.