Taptap Send Launch the Ethiopian Corridor to Boost Financial Inclusion and Legal Transactions

The fast-growing no-fee money transfer service Taptap Send has announced it has launched its services to Ethiopia.

Ethiopia has worked hard for many years to improve financial inclusion by increasing the percentage of adults who can transact in the financial sector.

Over the past decades, Ethiopia has made substantial progress in economic growth and has become one of the fastest-growing economies on the continent. Reduction in poverty, growth in gross domestic product, and increased financial inclusion are some of the key achievements of economic progress.

Sustained, prudent, and responsible financial inclusion contributes to financial and monetary stability, helps to combat anti-money laundering risk, supports accelerated economic growth, greater prosperity, and social development.

The cash-intensive nature of the financial economy has allowed for an amount of money to circulate outside the formal financial system. This money is partly responsible for the prevalence of criminal activities, corruption, and illicit financial flows.

Taptap Send is set to boost financial inclusion efforts by launching its services to allow money transfers from Europe and the US to Ethiopia. The use of legal money transfer routes like Taptap Send reduces the use of the informal sector and illicit financial inflows into Ethiopia. The Ethiopian diaspora can send money back home legally, quickly, and securely at great rates with no commission. Recipients of Taptap Send transfers can assess monies via mobile money providers like Amole and Hello Cash without the need to leave their homes or travel to traditional banks.

Being able to access financial services without leaving the comfort of home is not only safer and less stressful, but it also helps local businesses thrive in these  pandemic times. Taptap Send charges no fees, offers great rates and transfers that are super-fast.

Since its inception in 2018, Taptap Send has moved tens of millions of dollars and reached hundreds of thousands of customers.

Taptap Send Growth Director – Africa, Mawutor Abraham, had this to say about the launch:

Legal money remittance and increased financial inclusion are really important to the economic development of Ethiopia and Africa as a whole. Taptap Send is one of the few money remittance companies committed to the UN sustainability goal of reducing the cost of remittances worldwide to below 3%. We’ve served the African diaspora community in Europe since 2018 and we’re excited to bring our fast, secure, and no- commission money transfers to Ethiopian customers too.

Money transfer service Taptap Send has announced the launch of its services to Ethiopia. The service will enable people in the diaspora, particularly those based in the UK, Europe, the USA, and Canada, to send money to their loved ones instantly straight to Amole, HelloCash mobile money wallets, and bank accounts with Dashen Bank and CBE.

Remittances make up a significant part of Africa’s main source of currency, contributing to above 5% of GDP in 15 African countries. As a result of the ongoing pandemic, Africans have leaned into providing support back home through affordable digital finance platforms like Taptap Send . These remittances help thousands of Ethiopian families pay for essential needs such as food, healthcare, household bills, and education.

Taptap Send is live in the UK, EU, US, and Canada, and supports payments into Senegal, Mali, Guinea, Ghana, Cameroon, the Ivory Coast, Kenya, Madagascar, Zambia, Bangladesh, Vietnam, DR Congo, Morocco, Sri Lanka, Rep. Congo, Pakistan, and Nepal with more countries launching soon.

The Taptap Send app is available for download in the UK, Europe, USA, and Canada on the Apple Store and Google play store for free. New customers can  receive an additional 5 euro (262 Birr) on their first send by using the code ETHPRESS.

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