TerraPay, a global cross-border payment infrastructure provider, today announced a strategic partnership with Banco de la Producción S.A (Banpro Grupo Promerica), the leading provider of remittance payout services in Nicaragua. This collaboration aims to simplify and accelerate inbound remittances by enabling direct account deposit remittance payouts with immediate availability for Nicaraguan families.
Banpro, a trusted financial institution and market leader in remittance payout solutions, currently handles 42% of all remittance payouts in Nicaragua. Through this partnership, Banpro customers will benefit from 24/7 account deposit remittance services, same-day availability, and preferential exchange rates, ensuring faster and more reliable access to funds sent by loved ones abroad through a secure cross-border payment solution.
“Nicaragua sits at the heart of some of the most vital remittance corridors in the Americas, and the stability of millions of households depends on the reliability of these flows.” said Hassan Chatila, Global Head of Network, TerraPay. He added, “By partnering with Banpro, we’re not just enabling faster account deposits—we’re strengthening a financial lifeline for Nicaraguan families. This collaboration allows us to bring our compliance-led global infrastructure to one of the region’s most trusted financial institutions, ensuring that money sent home from the USA, Costa Rica, Spain, and Panama moves with absolute certainty and transparency. For TerraPay, this is about more than payments. It’s about delivering resilience in an economy where remittance payout solutions form a critical share of national income, and enabling banks like Banpro to deepen financial inclusion by converting cash-dependent remitters into digital-first participants. Together, we’re laying the groundwork for scalable, secure, and future-ready cross-border payment capabilities across Central America.”
“Our customers depend on timely and secure remittance payout services,” said Juan Carlos Argüello, Executive President and General Manager, Banpro Grupo Promerica. “With TerraPay, we can enhance that experience by offering immediate account deposit remittance payouts, helping families manage essential expenses like healthcare, education, and housing through a trusted cross-border payment solution.”
The initial phase of this partnership will focus on inbound remittances from key corridors including the USA, Costa Rica, Spain, and Panama, with funds paid directly into Banpro accounts in US dollars through TerraPay’s global cross-border payment network. With remittances contributing approximately 26.6% to 29.4% of Nicaragua’s GDP, this collaboration highlights both companies’ shared commitment to delivering scalable cross-border payment solutions that drive financial inclusion and digital innovation.