Zapp is an innovative startup that aims at transforming international remittances, particularly targeting Mexican immigrants in the US in the first phase.
Zapp's core offering lies in its seamless integration with popular messaging apps like WhatsApp, providing users with a familiar and efficient platform to send money to Mexico.
Why Mexico
In 2023, nearly 70 billion US dollars in remittances were sent to recipients in Mexico, according to the World Bank. Traditional players apply a quite high fee to these transactions, up to 6%.
How Zapp works
By leveraging the widespread usage of messaging apps, Zapp ensures accessibility for a diverse user base, catering to individuals with varying levels of technological proficiency.
Zapp relies on mobile devices and popular apps, like Whatsapp, to make transaction less costly. Moreover, the customers are provided with a clear and upfront pricing directly in-app, so they can make informed financial decisions before sending the money.
Zapp also features a real-time tracking option, so that users can monitor their transactions step by step.
What about security?
Zapp partnered with messaging apps that offer advanced security features, like end-to-end encryption, to protect customers’ funds.
Users money is never held by Zapp: all transactions are processed in real-time, thanks to the support of partner companies specialised in transaction processes.
Founded by José Orozco and Andrés Oyanguren, Zapp is driven by a vision to empower immigrants and facilitate support for their families across borders. With a blend of financial expertise and technological innovation, the Zapp team is uniquely positioned to revolutionize the international money transfer sector.
