AirPak
- Company typePrivate
- Founded1991
- HeadquartersManagua, Nicaragua
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
AirPak firmographics
Firmographics- Name
- AirPak
- Legal name
- AirPak
- Website
- https://airpak.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
AirPak industry classification
Industry- Product category
- Remittance Transfer Services
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industry
- International Bill Pay & Cross-Border Airtime/Top-Up (FSAGAKAM)
Keywords
Where AirPak is headquartered
LocationHeadquarters
- HQ city
- Managua
- HQ country
- Nicaragua
- HQ region
- Latin America
Offices6 records
Markets served
AirPak business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Remittance Transfer Services: Primary revenue from transaction fees charged for money transfer services through Western Union and partner networks. Fees vary by transfer amount, destination, and service speed.
- Foreign Exchange Margins: Revenue generated from currency exchange rate margins when converting between sending and receiving currencies for international remittance transfers.
- Digital Wallet Services: Fees and interchange revenue from CashPak digital wallet services including person-to-person transfers, bill payments, and mobile account management.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard remittance transfers via Western Union and partner networks |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
AirPak product offering
Product offeringCore offering
AirPak operates a regional remittance transfer service that allows individuals to send and receive money internationally across Central America (Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica) and Mexico. Services are delivered through 21,400+ physical service points and digital channels, including the Agencia en Línea online platform and CashPak mobile wallet, with complementary utility bill payment functionality for basic services such as electricity, water, telephone, cable, and internet.
Product overview
AirPak is a financial services company and regional leader in remittance transfers operating across Central America (Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica) and Mexico. The company serves as the exclusive representative of Western Union with over 21,400 service points handling more than 21 million transfers annually worth over $4.2 billion. The product portfolio centers on the AirPak Remittance Services platform, complemented by the CashPak Digital Wallet (mobile wallet for Android/iOS), the Agencia en Línea web platform for online transactions, and a utility bill payment service covering basic services. The ecosystem enables users to send/receive international remittances, store funds digitally, and pay utility bills through both physical locations and digital channels.
Differentiator
Problem solved
Functional benefit
Brands
- CashPak: Digital wallet and mobile payment platform allowing users to send money, pay bills, and perform national and international transactions.
Products and services
- AirPak Remittance Services AirPak's primary remittance transfer service enabling individual users to send and receive money internationally through a network of physical locations and digital channels. Operates as the exclusive Western Union representative in Central America, with alliances also covering MoneyGram, RIA, Remitly, and Transfast.
- CashPak Digital Wallet Mobile wallet application enabling users to receive and store remittances, send money, pay utility bills (electricity, water, telephone, cable, internet, finance), and perform national and international transactions directly from a cellular phone.
- Agencia en Línea (Online Platform) Web-based transactional platform enabling users to send and receive remittances digitally, create accounts, and manage remittance transactions across Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, and Mexico.
- Utility Bill Payment Service Service allowing users to pay basic utility bills (electricity/Luz, water/Agua, telephone/Teléfono, cable/Cable, internet/Internet) and other financial services through the AirPak platform and CashPak wallet.
Quantifiable outcome
- 21 million+ remittance transfers processed annually
- +2 more outcomes
Companies that use AirPak
Customer profileSegments4 records
Ideal customer profiles3 records
AirPak technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature3 records
AirPak partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and major.
- Western UnioncoreExclusive regional representative for Western Union in Central America since 1990. First obtained for Guatemala, then rapidly expanded to the rest of Central America. This is AirPak's foundational partnership, providing access to the global Western Union money transfer network and brand.
- MoneyGrammajorStrategic alliance to offer MoneyGram remittance services alongside Western Union, providing customers with multiple provider options.
- RIAmajorStrategic alliance to offer RIA money transfer services, expanding the range of remittance options available to customers.
- RemitlymajorStrategic alliance to offer Remitly digital remittance services, complementing AirPak's physical network with digital-first transfer options.
- TransfastmajorStrategic alliance to offer Transfast remittance services, further expanding customer choice in money transfer providers.
- CashPakcoreDigital wallet service (cashpak.com.ni) integrated with AirPak's remittance network, enabling mobile receipt of transfers, bill payments, and domestic/international transactions. Part of AirPak's digital ecosystem.
- Grupo CoencoreParent company of AirPak. Grupo Coen is the holding company that owns AirPak and its regional operations across Central America and Mexico. Founded by Piero Coen Montealegre who started business activities in the 1950s and entered the financial sector with currency exchange houses in 1985.
Scale indicators6 records
Recent moves3 records
Expansion highlights6 records
AirPak competitors and assessment
Company assessmentDirect peers
- Transfast (Mastercard): Cross-border money movement and remittance network now owned by Mastercard; integrated into AirPak's platform while also serving as direct competition in select LATAM corridors.
- Remitly: Digital-first consumer remittance provider with deep US-to-Central America and Mexico flows. Both a strategic partner of AirPak in its multi-provider stack and a direct competitor in online corridors, making it the most material same-segment rival.
- MoneyGram: Global MTO with strong US-to-LATAM remittance flow; a strategic ally of AirPak via the multi-provider stack, yet also competes directly in agent networks across Central America and Mexico.
- Ria Money Transfer (Euronet): Large global remittance network and part of Euronet's payments segment; partner of AirPak's platform and direct competitor in US-to-Central America corridors.
- Xoom (PayPal): PayPal-owned digital remittance service targeting US-to-LATAM corridors; competes head-on with AirPak's Agencia en Línea offering for the same sender base, particularly online.
- WorldRemit: Digital cross-border payments company serving senders from developed markets to recipients in Latin America and other emerging regions; competes in the same online corridors as AirPak's digital offering.
- Dolex: Specialized US-to-Colombia remittance provider with growing Central American corridor presence; direct competitor serving overlapping sender demographics in the US Hispanic market.
- Sigue Money Transfers: US-headquartered MTO focused on Latin America corridors; overlaps with AirPak on US-to-Central America and US-to-Mexico remittances through its own agent and digital network.
- Viamericas: Money transfer operator with a strong US-to-LATAM footprint, including Mexico and Central America; competes in the same agent and digital corridors as AirPak for similar customer segments.
Broad incumbents
- Western Union: Global remittance incumbent whose brand, technology, and core product AirPak distributes exclusively in Central America; simultaneously AirPak's anchor partner and a broader competitor in Mexico and US-side corridors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
AirPak social profiles
Digital presenceAirPak financial estimates
Financial estimateRevenue estimate
Valuation estimate
AirPak leadership team
Management profileNumber of profiles
Profiles8 records
AirPak subsidiaries and ownership
Company hierarchySubsidiaries1 record
AirPak funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AirPak M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AirPak
What does AirPak do?
AirPak operates a regional remittance transfer service that allows individuals to send and receive money internationally across Central America (Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica) and Mexico. Services are delivered through 21,400+ physical service points and digital channels, including the Agencia en Línea online platform and CashPak mobile wallet, with complementary utility bill payment functionality for basic services such as electricity, water, telephone, cable, and internet.
Is AirPak a public or private company?
AirPak is a private company. It is classified as family owned and is currently operating.
When was AirPak founded?
AirPak was founded in 1991. It employs 5,001 to 10,000 people.
Where is AirPak based?
AirPak is headquartered in Managua, Nicaragua, in the Latin America region.
How does AirPak make money?
Three revenue lines are on record. Remittance Transfer Services are the primary driver. The others are foreign Exchange Margins and digital Wallet Services.
Who are AirPak's main competitors?
Direct peers on record are Transfast (Mastercard), Remitly, MoneyGram, Ria Money Transfer (Euronet), Xoom (PayPal), WorldRemit, Dolex, Sigue Money Transfers and Viamericas. Western Union is listed as a broad incumbent.
Does AirPak have an API?
No public API is recorded for AirPak.
What industry is AirPak in?
AirPak's product category is Remittance Transfer Services. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAGAKAM, International Bill Pay & Cross-Border Airtime/Top-Up.