BitMinutes continues to work with Fundación Génesis Empresarial, the largest microfinance institution in Guatemala, to significantly expand financial inclusion in Guatemala by offering highly affordable digital financial services.
Together, the two companies will build on Genesis’ network of retail locations to form the Guatemalan division of the Trusted Agent Network to provide Guatemalans with free remittances (or wire transfers) from the United States, as well as microloans in the near future.
Consumers can use the following link to create an account in anticipation of the launch of remittance services:
The partnership will also offer pre-paid phone time top ups using the BitMinutes token (BMT), which can be purchased and sent to any mobile phone, notably from any U.S. BitMinute wallet to any phone in Guatemala.
While BitMinutes brings its proven technology to the partnership, Fundación Génesis Empresarial has Pronet, S.A. (AKISI) and its 50,000 locations in Guatemala. Customers of TAN-LA will ultimately be able to pick up their remittances at those Genesis locations that provide cash in/cash out services.
Key to the partnership is the fact that the two companies have completed the integration of their respective platforms, making for a seamless transfer from the BitMinutes wallet to the AKISI wallet.
“Our mission with BitMinutes has always been to help the unbanked climb out of their economic circumstance and even create their own business and become an entrepreneur,” said Tom Meredith, the CEO and founder of BitMinutes. ‘We have already started fulfilling that mission in Nigeria, where we have a have a TAN network that spans more than 1,300 TAN agents, serving more than 7,000 Nigerians. We are working next on offering microloans there. In Guatemala, our partnership with FGE will accelerate our microloan program.”
FGE CEO said the timing of the service is perfect. “With this proven and reliable technology, we will be able to make a tremendous difference in the lives of millions of Guatemalans,” said FGE CEO.