PeiGo
“Can Banco Guayaquil capture Ecuador's unbanked and underbanked mass market through a mobile-first neobank brand before international fintechs arrive?”
Founded2021
HQGuayaquil, Ecuador
IndustryFintech / Neobank
The story
PeiGo launched in 2021 as Banco Guayaquil's digital wallet brand targeting the unbanked and underbanked population in Ecuador. The company initially focused on peer-to-peer transfers and QR-based merchant payments, then expanded into remittances (100+ countries), insurance, and loyalty rewards. By 2025 it had added physical and virtual debit and credit cards, including a co-branded American Express product, evolving from a simple e-wallet into a full consumer neobank operating entirely under the regulatory umbrella and balance-sheet of its parent bank.
Product timeline
2021
PeiGo founded as a digital wallet subsidiary of Banco Guayaquil in Ecuador.· banking
2023
Launched remittance product enabling Ecuadorians to receive money from over 100 countries directly to their PeiGo account.· banking
2025
Launched physical debit card (Tarjeta Débito peiGo) giving users cash-access at ATMs and point-of-sale.· card
2025
Launched peiGo Member American Express credit card, expanding card portfolio to a branded credit product.· card
2026
Surpassed 1,000,000 registered users ('peigers') milestone announced on homepage.· banking
The stack
2 layers disclosed in PeiGo’s embedded-finance stack
Banking / BaaS
Banco Guayaquil (in-house)
Card network
in the full report
Accounting gap: significant
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.