Payment Solutions in Guatemala

Territories - Latin America

Bridging cash and digital transactions in Guatemala

UBank Connect Payment Solutions in Guatemala

A multi-cultural market with many business opportunities

Guatemala is experiencing significant growth in digital payments and e-commerce, driven by increased smartphone usage and internet access. Mobile wallets and online banking are becoming popular, enhancing convenience and security for consumers and businesses. The e-commerce market in Guatemala is projected to grow at an annual rate of 10.9%, reaching $2.5 billion by 2025. This shift towards digital transactions is contributing to a more inclusive financial ecosystem in the country, paving the way for further economic development. Additionally, government initiatives and partnerships with fintech companies are helping to bridge the digital divide, promoting greater financial inclusion and fostering innovation in the payment landscape.

Market Overview

  • Population

    18.3 million

  • Online Population

    11 million

  • Currency

    GTQ

  • e-Commerce Market Value

    $381 million

  • GDP

    $344.7 billion

  • GDP per Capita

    $4,757.00

Available Payment Methods

BAM - Payment Solutions in Guatemala
G&T Continental - Payment Solutions in Guatemala

UBank Connect’s payment solutions in Guatemala are tailored to address the specific needs of a largely cash-based economy. Our innovative approach ensures that cash payments are seamlessly integrated into digital systems, bridging traditional and modern financial practices. By offering reliable and secure cash handling solutions, UBank Connect helps businesses streamline operations, enhance efficiency, and improve customer satisfaction. This integration not only simplifies cash management but also opens up new opportunities for financial inclusion and economic growth. Additionally, our solutions provide valuable insights into cash flow and transaction patterns, enabling better financial planning and decision-making for businesses. UBank Connect is committed to supporting the transition from cash to digital, paving the way for a more inclusive and dynamic financial ecosystem in Guatemala.

Why choose UBank Connect?

  • Direct connection to banks
  • Dedicated bank account(s)
  • Local technology and operations team
  • Flexible and competitive rates
  • Global reach with a single API access
  • Support in emerging markets

Key Takeaways

  • Culturally, Guatemalans favor in-person interactions, but younger generations are embracing technology and skipping the conventional retail model.
  • Despite the rise of digital payments, cash remains the dominant payment method in Guatemala, with over 80% of transactions conducted in cash, necessitating solutions that integrate cash handling into digital systems.
  • 6 out of 10 Guatemalan online buyers make online purchases at least once a month with an average spending of $450 where 95% of purchases are made thru international retailers.
  • Efforts to digitize financial transactions are helping drive economic development by making financial services more accessible to a broader population.
UBank Connect Payment Solutions in Brazil

Get started today!

Discover how UBank Connect can enhance your payment solutions in Guatemala. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.