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 fixed 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 transfers between $100 and $150, while cash withdrawals incur a $1.00 surcharge. Nicaragua has over 5,000 banks and businesses, including Banpro, Banco Lafise, and BAC Credomatic, with fees ranging from $5.99 for transfers up to $200 to $33.99 for transfers up to $3,000.
This expansion addresses the needs of Central American migrants who often rely on remittances to support their families. By leveraging WhatsApp, Zapp eliminates the need to visit physical locations or download separate apps, making the process more convenient. The service 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. Zapp is not affiliated with Meta or WhatsApp but uses WhatsApp as a communication channel. The move is likely to increase competition in the remittance market and improve access for underserved communities.
