Sendwave and TapTapSend Square Off in Africa’s Remittance Market
Diaspora money transfers to Africa have long been dominated by traditional remittance operators whose fees can take a noticeable cut out of the sums sent home. Two mobile-first fintech firms, Sendwave and TapTapSend, are now competing to win over customers with apps promising faster delivery and lower costs, according to The Africa Report.
The shift toward digital payments has reshaped the broader African financial landscape over the past decade. Mobile money platforms pioneered across the continent have made it possible for recipients to be paid directly into mobile wallets, bypassing the queues and paperwork historically associated with picking up cash at an agent. Africa remains one of the world’s largest remittance-receiving regions, and the rise of mobile-first services has put pressure on legacy operators to cut their charges.
Sendwave’s positioning
Sendwave has built a presence across African remittance corridors by marketing simplicity and competitive pricing. The platform targets diaspora users seeking to send smaller, recurring amounts without the friction associated with traditional wire services, The Africa Report has reported.
TapTapSend’s expansion
TapTapSend has similarly focused on speed and affordability, extending its payout network across the continent. The service is part of a wider cohort of mobile-first entrants leveraging Africa’s deep mobile money infrastructure to serve corridors once dominated by incumbents.
With both firms emphasising fast transactions and low fees, the contest between Sendwave and TapTapSend reflects a wider contest for the African remittance market. The mobile-first model is now a defining feature of how diaspora communities move money home.
Sources
This report was written from coverage published by the following news organisations. Follow the links for the original reporting.
- The Africa Report — Money transfer apps: Sendwave vs TapTapSend
