← Embedded Finance Index 2026

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.

FID (Credex)0 layers →

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.

CashPak — frequently asked

Who is CashPak's payment processor?

CashPak processes payments through CashPak (self-operated).

Which card network does CashPak use?

CashPak's cards run on Mastercard.

What is CashPak's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in CashPak's stack: Payments / PSP (CashPak (self-operated)); Card network (Mastercard).

Where is CashPak headquartered?

CashPak is founded in 2013 and headquartered in Managua, Nicaragua.

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