TerraPay Partners with Banco Ganadero to Launch Real-Time Cross-Border Payments in Bolivia

TerraPay has partnered with Banco Ganadero, one of Bolivia's leading financial institutions, to enable 24/7 real-time cross-border payments into the country. The tie-up plugs Bolivia into TerraPay's Global Money Movement Network and routes inbound funds through Banco Ganadero and its digital wallet, Yolo Pago, with settlement in the local Bolivian Peso (BOB).

The partnership tackles a long-standing pain point in the Bolivian remittance corridor. According to World Bank data from 2023, cross-border payments into Bolivia have carried an average cost of 6.2% per transaction, with settlement times stretching from one to five business days. TerraPay and Banco Ganadero say the new rails deliver instant availability, transparent pricing, and competitive FX, with payouts reachable across any bank in Bolivia via the local ACH system, as well as into Banco Ganadero accounts, mobile wallets, and Yolo Pago.

Remittances are a meaningful component of Bolivia's economy. Officially recorded inflows reached USD 1.29 billion in 2024 and represent 2-3% of GDP, supporting an estimated two million Bolivians living abroad. The partnership initially strengthens corridors from Spain, the United States, Chile, Argentina, Switzerland, and Brazil, the countries that account for the bulk of diaspora flows back into Bolivia.

"Our partnership with Banco Ganadero delivers real-time payments, instant availability across all banks via ACH, and seamless payouts to mobile wallets," said Hassan Chatila, VP and Global Head of Network at TerraPay. The company is positioning the integration as a single connection that gives partner banks, money transfer operators, and fintechs a compliant route into the Bolivian market without each having to negotiate local treasury, regulatory, and settlement arrangements on their own.

For Banco Ganadero, the deal extends the reach of Yolo Pago, the bank's consumer wallet, by turning it into a destination endpoint for international transfers. That gives the bank a direct line into diaspora-driven deposit and engagement growth, while offering recipients in Bolivia a digital alternative to cash pickup and slow bank wires.

The Bolivia launch is part of TerraPay's broader push across Latin America, where the company has been steadily adding inbound corridors and local payout partners. Bolivia joins a network that already spans much of the region's banking and wallet infrastructure, and reflects a wider industry shift away from correspondent banking towards real-time, account-to-account and wallet-to-wallet rails.

For Bolivia's financial inclusion agenda, faster and cheaper remittances matter. Lower friction in the last mile typically translates into more money reaching households, and pushing those flows through regulated wallets such as Yolo Pago brings recipients into the formal financial system, opening the door to savings, credit, and other digital banking services over time.