PeiGo

What PeiGo does

PeiGo is the mobile-first digital wallet and banking platform of Banco Guayaquil S.A., Ecuador's AAA-rated, nearly century-old commercial bank. Launched in 2022 and headquartered in Guayaquil, PeiGo enables users to open a fully digital Banco Guayaquil account through a self-serve app onboarding flow with biometric (facial and fingerprint) identity validation, without requiring a pre-existing bank account. The platform serves Ecuador's unbanked and underbanked population as its primary segment, with secondary use cases for international remittance recipients, small merchants seeking QR-based payment acceptance, and digital-first consumers.

The product surface spans basic and premium ("Pro") savings accounts under the "Cuenta peiGo" brand; Mastercard-backed virtual and physical debit cards; an American Express–branded, deposit-guaranteed credit card aimed at building credit history; international remittance reception from 100+ countries via Ria, WorldRemit, Remitly, Xoom, MoneyGram, and SWIFT; merchant QR collection tools; digital gift codes; insurance products; bill payment (electricity, telecom, internet); expense splitting; and a loyalty points program. Distribution is fully digital through the iOS/Android app, web, and a WhatsApp virtual assistant ("Agente peiGo"), with cash access provided through Banco Guayaquil's ATM network and Banco del Barrio correspondent agents. Card integration extends into Google Wallet and Apple Pay for contactless and online use, including on Amazon, Shein, and Temu.

The business model is freemium at the consumer level — account opening, basic transfers, and card issuance carry no disclosed fees — with monetization driven by card interchange (Mastercard debit and Amex credit), select service/transaction fees aligned to Banco Guayaquil's published terms, and interest income on revolving credit-card balances. PeiGo reports over 1 million users ("peigers") and operates with 101–250 employees, wholly owned by and embedded within Banco Guayaquil's regulatory and capital framework rather than as an independently funded entity. Forward cadence includes the 2024 launch of the higher-limit Pro savings tier and continued ecosystem build-out into insurance and merchant services.

Name

PeiGo

Legal name

Banco Guayaquil S. A.

Website

https://peigo.com.ec

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

101–250 employees

Short description

PeiGo is the mobile digital wallet of Banco Guayaquil S.A. in Ecuador, offering account opening, biometric onboarding, Mastercard debit and Amex credit cards, QR payments, international remittance reception from 100+ countries, and bill payment to unbanked, underbanked, and digital-first consumers.

Ownership category

akta.pro rank

Product category

Mobile Wallet / Digital Banking

NAICS

Depository Credit Intermediation (5221), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industries

Consumer P2P International Remittances (FSAGAKAA), International / Multi-Currency Wallets (FSAMAEAL), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

Keywords

• Digital wallet services
• Mobile payments
• Digital banking
• International remittances
• Card services

Headquarters

HQ city

Guayaquil

HQ country

Ecuador

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Card Interchange Fees: Interchange revenue generated from debit and credit card transactions processed through the Mastercard and American Express networks
2. Service Transaction Fees: Potential fees for specific services such as service payments, international transfers, and cash withdrawals at certain points. Terms state Banco Guayaquil may apply charges per regulatory guidelines
3. Credit Card Interest: Interest income from revolving credit card balances on the peiGo credit card product

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

PeiGo is a mobile-first digital wallet and digital-banking platform operated by Banco Guayaquil S.A. in Ecuador. It allows users to open a fully digital bank account in minutes (without any pre-existing bank account), receive a Mastercard-backed virtual/physical debit card and an American Express credit card, send and receive money, pay utility and telecom bills, scan/display QR codes for payments, and receive international remittances from more than 100 countries. Core distribution is through the iOS/Android mobile app, with a web platform (peigo.com.ec) and a WhatsApp virtual assistant ("Agente peiGo") as supporting channels.

Product overview

PeiGo is a comprehensive digital financial services platform operated by Banco Guayaquil in Ecuador, offering a unified mobile-first ecosystem with multiple integrated products. The core APP peiGo serves as the central interface for the digital wallet, which is anchored by the Cuenta peiGo (basic account) and extended by Cuenta peiGo Pro (savings account with higher limits). Card products include Tarjeta Débito peiGo (Mastercard-backed physical/virtual debit), Tarjeta Crédito peiGo (deposit-guaranteed credit), and peiGo Member American Express. Value-added modules encompass Remesas peiGo (international remittances), Comercios peiGo (merchant QR payments), CódiGos peiGo (gift codes), Seguros peiGo (insurance), División de Gastos (expense splitting), Pago de Servicios (bill payment), Puntos y Premios (loyalty), and Agente peiGo (WhatsApp assistant). The platform processes over 1 million users and operates through mobile app, web, and WhatsApp channels.

Differentiator

Problem solved

Functional benefit

Brands

• Cuenta peiGo: Basic digital account for managing money with features like sending/receiving money, paying services, and mobile top-ups.
• Cuenta peiGo pro
• Tarjeta Débito peiGo
• Tarjeta Crédito peiGo
• CódiGos peiGo
• Seguros peiGo
• Remesas peiGo
• Agente peiGo

Products and services

• APP peiGo (Mobile App) The core mobile application (iOS and Android) serving as PeiGo's digital wallet, allowing users to manage money, make payments and transfers, receive international remittances, and access all PeiGo financial products (basic account, Pro savings, debit/credit cards, bill payment, QR payments, gift codes, insurance, rewards) from a single interface.
• Cuenta peiGo Basic digital bank account linked to PeiGo and backed by Banco Guayaquil, enabling balance storage, transfers, service payments, and card operations with monthly limits equivalent to 6 minimum wages; opened 100% digitally through the app with no branch visit required and no maintenance fees.
• Cuenta peiGo Pro Digital savings account (Cuenta de Ahorro) with higher monthly transaction limits than the basic account — up to $17,498 for transfers/payments and up to $5,250 for service payments — activated 100% digitally through the app with no physical branch requirement.
• Tarjeta Débito peiGo Physical and virtual Mastercard-backed debit card linked to the PeiGo account balance, usable for online and in-store purchases nationally and internationally, with no issuance or maintenance fees; positioned as one of Ecuador's first 100% digital debit cards not requiring a bank account.
• Tarjeta Crédito peiGo Credit card backed by a cash deposit held as guarantee, designed to help users build or improve their credit history; offers payment installments, promotions, and acceptance at American Express-merchants; approval available without prior credit history.
• peiGo Member American Express Premium credit card option issued by PeiGo on the American Express network, usable at millions of merchants accepting American Express globally.
• Remesas peiGo International remittance reception service that allows PeiGo users to receive money from more than 100 countries directly into their PeiGo account via SWIFT bank transfers or through remittance partners (Ria, WorldRemit, Remitly, Xoom, MoneyGram).
• Comercios peiGo Merchant-facing tools (Para tu comercio) that allow businesses to accept QR-code payments from PeiGo users, manage cash flow, pay suppliers, and accept digital rewards codes (CódiGos peiGo) from customers.
• CódiGos peiGo Digital gift-code system that lets companies reward employees, customers and suppliers with redeemable codes that instantly deposit value into the recipient's PeiGo account balance.
• Seguros peiGo Insurance products available through the PeiGo app to protect users' assets and health, underwritten by partner insurance companies.

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability4 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• MastercardcoreTechnology or IntegrationCard network partner for PeiGo debit cards, enabling global acceptance at merchants worldwide. Provides the payment infrastructure and card issuance framework.
• American ExpresscoreTechnology or IntegrationNetwork partner for PeiGo credit cards, allowing cardholders to make purchases at millions of American Express accepting merchants globally.
• Ria, World Remit, Remitly, Xoom, MoneyGramcoreTechnology or IntegrationInternational remittance service providers with agreements with Banco Guayaquil enabling users to receive money from 100+ countries directly to their PeiGo accounts.
• PepsiminorGTM or Marketing PartnerPromotional partnership for marketing campaigns. PeiGo users can participate in Pepsi promotional campaigns by finding codes on product packaging.
• Zapping (LigaPro Ecuabet)minorGTM or Marketing PartnerSports streaming partnership allowing PeiGo users to purchase Zapping/LigaPro subscriptions directly through the PeiGo app for access to Ecuadorian football matches.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nequi: Colombian digital wallet operated by Bancolombia, one of the largest bank-backed mobile wallets in LatAm. Closely comparable to PeiGo in model (bank subsidiary, app-first onboarding, P2P, bill pay, cards, QR).
• Yape: Peruvian digital wallet operated by BCP (Banco de Crédito del Perú). Same bank-backed, mobile-first, QR-and-P2P wallet model serving unbanked users — a near-direct analog for PeiGo in a neighboring country.
• Mercado Pago: LatAm's leading consumer and merchant digital wallet from Mercado Libre. Competes head-on with PeiGo on P2P, QR payments, cards, and merchant acquiring, with much greater scale and broader commerce integrations.
• Ualá: Argentina-anchored LatAm digital wallet/prepaid card with expansion into Mexico and Colombia. Comparable mobile-first wallet targeting underbanked consumers with cards, transfers, and remittances.
• Deuna: Ecuadorian digital payments platform offering P2P transfers and QR payments for consumers and merchants. Direct domestic competitor to PeiGo in the same geography and customer segments.
• PayPhone: Ecuadorian fintech app providing QR-based digital payments and a prepaid Mastercard. Competes with PeiGo on merchant acceptance, P2P, and digital onboarding for the same Ecuadorian user base.

Broad incumbents

• NuPay (Nubank): Nubank's payments/wallet product is part of the largest LatAm neobank with 80M+ customers. Offers a broader suite (cards, credit, personal loans, investing) that competes with PeiGo's wallet-plus-credit offering, though at vastly greater scale.
• PayPal: Global digital wallet for P2P, online checkout, and remittance-style transfers. Overlaps with PeiGo's digital wallet and international online shopping use cases (e.g., Amazon, Shein, Temu), but at much larger scale and broader footprint.

Emerging players

• RappiPay: Colombian digital wallet and card product from Rappi super-app. Competes with PeiGo on consumer wallet and merchant acquiring, but is bundled into a broader delivery/commerce ecosystem.

Regional players

• Kushki: Ecuador-founded payments infrastructure company operating across LatAm. Adjacent rather than direct: Kushki is the rails/processing layer, while PeiGo is a consumer-facing wallet that could sit on top of similar infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@peigo4761
• Facebookfacebook.com/peigo.ec
• LinkedInlinkedin.com/company/peigo
• Instagraminstagram.com/peigo.ec
• TikToktiktok.com/@peigo.ec

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PeiGo