CashPak
“Can a conglomerate-backed mobile wallet become the primary financial access point for the unbanked population of Central America?”
Founded2013
HQManagua, Nicaragua
IndustryFintech / Consumer banking
The story
CashPak was established as a business unit of Grupo Coen, a Central American conglomerate, to serve the large unbanked population in Nicaragua and Mexico through mobile money. The company built its product around a mobile wallet (Billetera CashPak) and a prepaid Mastercard card, distributed through an agent network. Its embedded finance angle is remittance receipt (Western Union integration), mobile top-ups, and cashless payments for populations without traditional bank accounts.
Last 12 months
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Product timeline
2013
CashPak founded as the Mobile Money and Digital Payments Business Unit of Grupo Coen, targeting unbanked populations in Nicaragua.· banking
2019
Launched the Tarjeta Prepago CashPak (prepaid Mastercard card) alongside the CashPak mobile wallet, forming a 'duo' product offering.· card
2019
Added mobile top-up (recargas) functionality for operators Claro, Movistar, and CooTel within the CashPak wallet.· banking
Same company
CashPak was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
2 layers disclosed in CashPak’s embedded-finance stack
Payments / PSP
CashPak (self-operated)
Card network
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.