This collaboration is TerraPay's first direct partner in Central America and marks a significant advancement in the cross-border remittance industry. The goal is to provide easy-to-use and creative ways for Guatemalan expatriates to safely send money home to their loved ones.

With this partnership, Banco G&T Continental will have access to TerraPay's network and technology, which will make cross-border transactions easier. Officials from Banco G&T Continental expressed excitement about the partnership in a press statement issued by TerraPay, emphasising how it may simplify cross-border transactions for expatriates from Guatemala.

Through the collaboration, Banco G&T Continental will be able to take advantage of TerraPay's vast network to improve remittance flows in Guatemala and increase access to financial services. Additionally, it broadens Banco G&T Continental's customer base and strengthens its market position by expanding the institution's market reach.

With the support of Banco G&T Continental's reputable status and TerraPay's cutting-edge technology, this collaboration seeks to transform the cross-border remittance market in Guatemala. Both organisations are dedicated to advancing financial inclusion and providing Guatemalans with improved access to financial services by providing a smooth and safe option for cross-border money transfers.

Speaking enthusiastically about the partnership, TerraPay representatives emphasised their mutual goal of improving the remittance experience for Guatemalans around the world and advancing Guatemala's economic growth. They also discussed how important it is since this is TerraPay's first direct cooperation in the Central American region, highlighting their goals for a worldwide network.

What other developments have occurred with TerraPay?

In an effort to boost financial inclusion and increase international money transfers in Uganda, an East African nation, TerraPay partnered with Diamond Trust Bank in February 2024. The official news release distributed at the time said that both businesses wanted to help clients all over the world. The partnership's salient features encompassed the capability of enabling global direct account deposits and capitalising on DTB's brand recognition to maximise benefits for clients worldwide.

November 2023 saw the announcement by TerraPay and Maya of their collaboration to offer Filipino customers worldwide safe and efficient cross-border payment services. After making this announcement, the companies sought to improve international remittances for Filipino clients worldwide in terms of accessibility, security, and convenience. Through TerraPay's extensive global network, users of the Maya programme benefited from easy, trouble-free money transfers from Korea, Singapore, the United States, and the Middle East.