COONECTA, an Ecuador-based transactional network catering to cooperative financial institutions regulated by the Superintendencia de Economía Popular y Solidaria (SEPS), has teamed up with BPC to upgrade its payment infrastructure through the implementation of BPC’s SmartVista platform. This partnership covers 90 affiliated credit unions and 75 member institutions.

Modernizing Payment Infrastructure

This collaboration aims to modernize payment services within COONECTA’s network, encompassing digital platforms such as international debit and credit cards, e-wallets, and mobile payments. The SmartVista platform integrates issuing, acquiring, and digital channels into a unified system, enhancing operational efficiency.

The deployment addresses the fragmented legacy infrastructure prevalent in Ecuador’s cooperative banking sector. COONECTA’s services include a nationwide bill payment network, digital wallets, and remittance services, all of which required technology capable of supporting growth and operational effectiveness. BPC’s SmartVista was chosen due to its microservices architecture and modular design.

Enhancing Service Offerings

The partnership allows COONECTA to expand into acquiring and merchant payments, facilitating open-loop digital acceptance in rural areas where cash transactions are prevalent. This enables member institutions to introduce credit card issuance alongside their existing debit, prepaid, wallet, and digital services.

By consolidating operations onto a single infrastructure, COONECTA removes the need for individual systems, providing access to standardized tools while lowering costs associated with service delivery. The network’s strong presence in regions with limited traditional banking infrastructure means that many member cooperatives operate in small towns and rural communities where digital service deployment has historically faced challenges.

Supporting Financial Inclusion

COONECTA’s network-driven model enables smaller institutions to offer services comparable to larger banks while retaining control over product development and pricing. This platform supports financial inclusion objectives by providing integrated access to card issuing, mobile banking, acquiring, and remittance processing from a unified system, facilitating the scaling of digital offerings without individual technology investments.