Trusted Agent Network – Latin America Launches in Guatemala, Enabling Free Money Transfer from U. S. to Guatemala
Trusted Agent Network – Latin America is now open for business in Guatemala, enabling U.S. residents to transfer funds, without commission, to Guatemalans.
Trusted Agent Network – Latin America (TAN-CA) is now open for business in Guatemala, immediately enabling residents in the U.S. to transfer funds, without commission, to friends and family in the Central America country.
US residents can make free remittances to friends and family in Guatemala.
The process is simple. US residents first create a TAN-CA account and wallet using a government-issued ID here Then purchase Trusted Quetzals (TQs), and send those TQs to their friends and family. The recipients convert their TQs at any one of hundreds of banks and retail outlets in the country, which are part of the TAN-CA. Among them:
- SAN PEDRO SACATEPEQUEZ CENTRO
- TODOS SANTOS HUEHUETENANGO
- SAN CARLOS SIJA
- EL PROGRESO
- SALAMA 5A AVENIDA
- MALACATAN• CENTRO COMERCIAL MALACATAN
“There is no reason residents of the United States should have to pay a fee when sending money to friends and family in places like Nigeria and Guatemala.”— TAN-CA CEO Tom Meredith
As an added convenience, they can also purchase and send BitMinutes (BMTs) to Guatemala to top up any mobile phone in Guatemala. TAN-CA launched its office in Guatemala about a year ago and has been building out the network since that time
There is a similar TAN in Nigeria. There, the company has trained more 1,500 TAN agents, which are typically store merchants and entrepreneurs, who are trained and incentivized to provide such services to Nigerians.
“There is no reason residents of the United States should have to pay a fee when sending money to friends and family in places like Nigeria and Guatemala,” said TAN-CA CEO Tom Meredith.
The money remittance business is a highly fragmented industry, with the top two competitors owning only about 15 percent of the $700 billion market, Meredith added. Recognizing that the consumer is rapidly adopting digital solutions, companies like TAN-LA are using blockchain technology and tokenization to offer those living in the U.S. the ability to go online and purchase the digital currency of the country of their choice and transfer the funds to friends and family.
TAN-CA is also poised to roll out microlending in its markets in markets in Guatemala and Nigeria.
“The TAN program will be at the center of the microlending initiatives,” said Meredith. “It is the future when it comes to the delivery of financial services, especially to the unbanked. At the same time, it creates a powerful revenue stream for merchants, who in effect become the corner banker.” Merchants and entrepreneurs in Guatemala, who are interested in becoming a TAN-CA agent, should go here.
TAN-CA is a startup fintech company, founded in the U.S. The company created Trusted Quetzals (TQs), which can be transferred, for free, from U.S. residents to Guatemalans. TAN-CA also allows for the purchase of BitMinutes, which are essentially universal prepaid airtime minutes that can similarly be transferred between countries. More importantly, the company plans to facilitate the expansion of micro-credit lending in Guatemala, where lending is rare and too expensive for most individual borrowers.