TANGgapp, a remittance app, is rolling out a new feature facilitating money transfers from the Philippines to the United States (US). Initially, the service catered exclusively to US-based Filipinos sending money back home.
The introduction of the Reverse Padala Product feature is aimed at extending TANGgapp’s reach and enhancing its user base, offering a seamless solution for sending and receiving money.
Founded by Rebecca Kersch, a visionary Filipina-Dutch-American entrepreneur, TANGgapp emerged during her tenure pursuing a Masters at Harvard University. Inspired by her relatives who were overseas Filipino workers, Kersch’s firsthand insight drove her mission.
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“Micro-remittance with no transfer fee allows Filipinos overseas to send money only when needed,” Kersh explained at a media briefing. “Sending money should be as easy as texting, regardless of where you live or what you earn.”
TANGgapp’s ability to waive transfer fees, a potential burden for many OFWs due to high costs, is a result of its fee structure based on the exchange rate.
“We have structured our pricing to be accessible and adaptable,” Kersh said. “Our flat exchange rate fee caters well to larger transfers, ensuring affordability even when sending large amounts.”
By using the exchange rate fee model, TANGgapp ensures costs align with the amount sent, maintaining fairness and clarity. With a fixed exchange rate fee and no hidden charges or commissions, the company promises a seamless transfer experience with full transparency on the Philippine end.
Kersch highlighted TANGgapp’s digital and remote nature as key factors in saving operational costs, which are usually passed on to consumers.
Repeat users
In 2023, TANGgapp saw an average month-on-month growth rate of 19%, with over 48% of users returning.
Rocco Puno, chief revenue officer of TANGgapp, said they plan to grow the repeat users by providing them with new features and promotions.
“Our first step is to get people to create their first transaction,” he said. “We have a lot of efforts around that including campaigns and other enticing onboarding strategies.”
New users are welcomed with a P60 to $1 exchange rate for their first three transactions, enticing them to experience TANGgapp’s seamless service.
Kersch remains optimistic about maintaining the “no transfer fee” offering, aligning with her original vision for the startup. As a Filipino herself, she deeply understands the needs of OFWs and their families in the Philippines.
Kersch also noted that TANGGapp will soon be available in the Middle East.