Fintech PR

TerraPay and Banco G&T Continental Forge Strategic Alliance to Revolutionize Cross-Border Remittances

Published

9 months ago

February 28, 2024

GUATEMALA CITY, Feb. 28, 2024 /PRNewswire/ — TerraPay, a global leader in cross-border payments, is pleased to announce a strategic partnership with Banco G&T Continental, a distinguished financial institution in Guatemala. This collaboration marks TerraPay’s first direct partnership in Central America and is a significant advancement in the cross-border remittance sector, aimed at providing seamless and innovative solutions for Guatemalans abroad to securely send money to their families back home.

By joining forces with TerraPay, Banco G&T Continental gains access to a robust platform and extensive network that facilitate hassle-free cross-border transfers. Oswaldo Sánchez, Director de Remesas at Banco G&T Continental, expressed his enthusiasm about the collaboration, stating, “This partnership with TerraPay empowers us to facilitate seamless cross-border transfers, allowing Guatemalans abroad to send money to their families in Guatemala conveniently and securely.”

With this partnership, Banco G&T Continental can leverage TerraPay’s expansive network to enhance the flow of remittances in Guatemala while improving accessibility to financial services. Additionally, this collaboration extends Banco G&T Continental’s reach, allowing the financial institution to serve a larger customer base and further strengthen its position in the market.

With TerraPay’s cutting-edge technology and Banco G&T Continental’s reputation for reliability and trustworthiness, this partnership is poised to revolutionize the cross-border remittance landscape in Guatemala. By offering a seamless and secure solution for sending money across borders, both entities are committed to enhancing financial inclusion and empowering the people of Guatemala with greater access to financial services.

“We are delighted to partner with Banco G&T Continental to drive innovation and efficiency in cross-border remittances,” remarked Juan Luis Hernandez, Senior Country Manager – LAC Region at TerraPay. “Together, we aim to provide a superior remittance experience for Guatemalans worldwide, strengthening connections with their loved ones and contributing to the economic development of Guatemala. It is our first direct partnership in the Central America region and demonstrates our goal to achieve a global network.”

Through this collaboration, TerraPay and Banco G&T Continental reaffirm their dedication to delivering unparalleled services while driving positive change in the financial landscape of Guatemala.

About TerraPay:

TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 30 global markets and enabling payments to 140+ receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.

About Banco G&T:

It is a Guatemalan financial organization, which stands among the leaders in this market with a history of over 75 years. Currently, the group consists of several companies in the financial sector, including Banco G&T Continental, Financiera G&T Continental, and Seguros G&T, S.A. However, its main commercial activity is concentrated through Banco G&T Continental. The group’s strength is evident in its figures, which include a total of 1.5 million customers; Q69.5 billion in assets; deposits of Q51.1 billion, and a loan amount of Q35.3 billion. Its human team comprises over 5.4 thousand collaborators, and the organization was re-accredited in 2023 with ISO 9001/2015 Certification. The organizational culture of G&T Continental is characterized by its adaptation to change and continuous improvement; by its products and services, aimed at simplifying the daily management of its clients’ finances, the solvency of a large organization, and a constantly evolving technological platform.