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Rabat – International in-app money transfer platform “TapTap Send” allows Moroccans in the diaspora to easily and quickly send money home instantly with no extra fees.
Launched for the first time in Morocco in March 2021, the application offers services aimed at finding solutions to the issue of extra fees that banks and agencies charge customers to send money abroad.
While money transfer agencies apply high transfer fees to expatriates wishing to send remittances to their families in Morocco and across the African continent, the application only charges a small percentage for the exchange rate. It also limits the transaction amounts between MAD 30 (€3) minimum and MAD 20,000 (€2000) maximum.
“The platform is a quick and easy phone transfer service that saves people from having to go to a transfer agency and queue. Receiving money is now possible in less than a minute. In three clicks you can send money, as simple as its name: tap tap send,” said the application manager Abdelwahab Badia in a statement.
The platform began to operate in 2018 in Canada, the UK, and six European countries: Belgium, France, Germany, Italy, the Netherlands, and Spain.
With less than 8 months since its first launch in Morocco, the application grants a bonus of MAD 50 (€5) with the promotional code “MWN21” for new users to encourage the use of its services.
Money can be transferred to several African and Asian countries: Senegal, Mali, Guinea, Ghana, Cameroon, Ivory Coast, Kenya, Ethiopia, Nigeria, Madagascar, Zambia, Bangladesh, Pakistan, Sri Lanka, Vietnam, Nepal, and the Democratic Republic of Congo.
Other countries are expected to be added to the application in the future.
“Many Moroccans living abroad (MREs) complain about the exorbitant costs that weigh on expatriates wishing to provide for their families in Morocco. These costs have been estimated at around MAD 66 billion (€6.2) in 2020,” added the application manager Badia Abdelwahab.
Remittances from the Moroccan diaspora amounted to more than MAD 44.19 billion or nearly $5 billion in the first half of 2021, according to official statistics from Morocco’s Foreign Exchange Office.
The number represents an increase of 48.1% compared to a year earlier.
Community remittances to Morocco represent an important source of support for Morocco’s foreign exchange balance.
Despite the pandemic, remittances showed steady growth and resilience amidst the economic and healthcare crisis.
The platform is committed to consolidating the spirit of family solidarity and helping Moroccan families cope with the cost of living, healthcare, and basic needs.
To facilitate the money transfer services for MREs, Taptap Send signed a partnership with Morocco’s agency Cash Plus for cash pick up. The application underlined that the money is available instantly without any cashout fees.
With more than 2,000 withdrawal points in Morocco, Cash Plus has agencies in remote cities and villages across the country.
In case the sender transfers the money to the wrong person or number, transfers can be edited by giving correct details to Cash Plus’s customer service agents as long as the money has not been picked up yet.
Recipients are required to provide their ID – a valid Moroccan ID for Moroccans, and a valid Visa or residence permit for foreigners – and the transaction code to withdraw the money.
