What COONECTA Red Transaccional does

COONECTA Red Transaccional (Coonecta RT) is an Ecuadorian payment processing network founded on November 6, 2006, by 12 cooperatives of savings and credit together with the World Council of Credit Unions (WOCCU), with initial capital of USD $62,000. Headquartered in Quito, the company operates as a non-competing, neutral infrastructure partner to Ecuador's cooperative, microfinance, and mid-tier commercial banking sectors, serving 75+ financial institution members and providing coverage across all Ecuadorian provinces.

The company's core technology is a transaction-processing network that interconnects ATMs, processes Visa debit card transactions, routes international remittances through the proprietary COONGIROS platform, and increasingly settles interoperable digital payments via the recently launched PanaPay mobile payment button. The platform is PCI DSS certified and aligned with ISO 27001 and NIST 800-53 security standards, with additional offerings in ATM equipment sale/rental, 24/7 emergency call center services, and SMS/email transaction notifications. The Yo Decido Mi Futuro financial education sub-brand, funded by USAID and built on WOCCU methodology, extends the platform into financial literacy programming.

Revenue is generated through a diversified transaction-fee model: ATM switching fees, Visa debit card issuance and processing fees, remittance processing margins across four major money transfer operators (VIGO, RIA, DINEX, Intercambio Express), ATM hardware sales/rentals, and managed support services. Pricing is negotiated per institution based on volume and scope under multi-year contracts, with no public tiered pricing. The go-to-market is enterprise sales-led and channel-partner driven, anchored by cooperative board representation, the annual PayTech Forum event, and the Sello Coonecta vendor certification program. The company is privately held by its cooperative members and WOCCU, with no external venture or private equity funding disclosed.

Name

COONECTA Red Transaccional

Legal name

Coonecta Red Transaccional

Website

https://coonecta.com.ec

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

COONECTA Red Transaccional is an Ecuadorian payment processing network that provides ATM switching, Visa debit card issuance, international remittance routing, and interoperable mobile payments to 75+ cooperative, microfinance, and commercial financial institutions across Ecuador.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

Cross-Border Payment Routing, Orchestration & Connectivity (FSAMAIAK), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Payment processing
• Cooperative finance
• ATM network services
• Remittance processing
• Debit card issuance

Headquarters

HQ city

Quito

HQ country

Ecuador

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. ATM Network Transaction Fees: Coonecta RT charges participating financial institutions fees for processing ATM transactions (withdrawals, balance inquiries, deposits) across its network. Economies of scale from aggregated transaction volume reduce per-unit costs for member institutions.
2. Debit Card Issuance and Processing: Revenue from card licensing, personalization, issuance supplies (cards, PIN pads, printers), and transaction processing fees associated with the Visa Coonecta debit card ecosystem.
3. Remittance Processing (COONGIROS): Fees for processing international remittance payments through the COONGIROS platform, connecting remittance companies (VIGO, RIA, DINEX, Intercambio Express) with cooperative and microfinance payout points.
4. ATM Equipment Sales and Rental: Sale and lease of automated teller machines to member financial institutions at preferential network rates, including maintenance and spare parts supply.
5. Network Membership and Support Services: Call center services for banking emergencies, SMS/email transactional notifications, technical training, and ongoing account management provided to member institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

COONECTA Red Transaccional operates a shared payment processing network that provides ATMs, debit card issuance, remittance processing (COONGIROS), a mobile payment app (PanaPay), payment points, and complementary communications services to Ecuadorian cooperatives, mutualistas, and microfinance institutions. It functions as a non-competing, neutral infrastructure partner that enables member institutions to offer interoperable digital financial services to their end customers.

Product overview

COONECTA Red Transaccional (Coonecta RT) operates a multi-product financial transaction network serving Ecuador's popular and solidarity financial sector. Its portfolio is organized around a core transaction-processing infrastructure supporting: a shared ATM network (Red de ATMs Coonecta) for cash withdrawals and balance inquiries; a Visa debit card issuance and processing service (Tarjeta Visa de Débito Coonecta) enabling purchases and withdrawals globally; the COONGIROS remittances platform integrating international wire providers (VIGO, RIA, DINEX, Intercambio Express); interoperable QR/phone-based digital payments via PanaPay integrated into member mobile banking apps; and payment/collection points for bill payments and third-party services. Beyond core transaction services, Coonecta RT offers a 24/7 emergency call center, SMS/email transaction notifications, ATM sales and leasing, and the Yo Decido Mi Futuro financial education platform. The Sello Coonecta sub-brand certifies vetted third-party technology vendors for the member cooperative network. All services are designed for financial inclusion of the cooperative and microfinance sector.

Differentiator

Problem solved

Functional benefit

Brands

• PanaPay: An interoperable digital payment button integrated into partner financial institutions' mobile apps, enabling QR code and phone number-based transfers in real time.
• Sello Coonecta
• Yo Decido Mi Futuro
• COONGIROS
• PayTech Forum

Products and services

• Red de ATMs Coonecta Shared ATM network with more than 30 terminals that allows member cooperatives and their cardholders to perform cash withdrawals, balance inquiries, and other ATM transactions on a unified infrastructure.
• COONGIROS Remittance processing platform that enables member institutions to send and receive domestic and international remittances through the cooperative network, supporting cross-border payouts to beneficiaries.
• PanaPay Mobile payment application that allows cooperative members and end users to make transfers, payments, and other transactions from their smartphones using accounts linked to their member institution.
• Tarjeta de Débito Visa Coonecta Visa-branded debit card issuance and processing program for member cooperatives, allowing their members to access funds at ATMs and Visa-accepting merchants domestically and internationally.
• Red de Pagos (Puntos Coonecta) Physical agent payment point network that allows end users to perform cash-in, cash-out, bill payments, and other transactions at authorized locations affiliated with the cooperative network.
• Coonecta Yo Decido Mi Futuro Youth-focused financial education and inclusion program designed to teach saving habits and basic financial concepts to children and adolescents of cooperative members.
• Sello Coonecta Certification and quality seal program that recognizes member institutions meeting Coonecta's operational, service, and security standards, signaling reliability to end customers.
• Call Center Coonecta Shared call center service for member institutions to handle cardholder support, transaction inquiries, fraud reporting, and operational support, available as a subscription-based service.
• Servicios de SMS y Correo Electrónico Transactional SMS and email notification services that allow member institutions to send transaction alerts, OTPs, and customer communications using Coonecta's messaging infrastructure.
• Venta y Alquiler de ATMs Sale and rental of ATM hardware to member institutions, providing the physical terminals required to participate in the shared ATM network as an alternative to building proprietary infrastructure.

Quantifiable outcome

• Over 75 financial institutions connected to the network as of 2024, up from 20 in 2008 and 12 founding members in 2006.
• +2 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• WOCCU (World Council of Credit Unions)coreStrategic or Co-development Partner · 6 November 2006WOCCU co-founded Coonecta RT with 12 Ecuadorian cooperatives on November 6, 2006, with initial capital of USD $62,000. WOCCU provided strategic guidance, technical expertise, and seeded the cooperative finance infrastructure model that Coonecta RT scaled into Ecuador's leading payment network for the sector. WOCCU's President Oscar Guzmán sits on Coonecta RT's Board of Directors as President.
• VisacoreTechnology or IntegrationVisa serves as the global card network for the Visa Coonecta debit card, enabling international acceptance at over 2.7 million ATMs and 100+ million merchant locations worldwide. Coonecta RT acts as a Visa-licensed issuer and processor for its member financial institutions.
• VIGOmajorChannel Partner/ Reseller/ DistributorVIGO is an international remittance company whose transfers are routed through the Coonecta RT COONGIROS platform and paid out at member cooperative and microfinance institution locations across Ecuador.
• RIAmajorChannel Partner/ Reseller/ DistributorRIA is an international remittance company whose transfers are routed through the Coonecta RT COONGIROS platform and paid out at member cooperative and microfinance institution locations across Ecuador.
• DINEXmajorChannel Partner/ Reseller/ DistributorDINEX is an international remittance company whose transfers are routed through the Coonecta RT COONGIROS platform and paid out at member cooperative and microfinance institution locations across Ecuador.
• Intercambio ExpressmajorChannel Partner/ Reseller/ DistributorIntercambio Express is an international remittance company whose transfers are routed through the Coonecta RT COONGIROS platform and paid out at member cooperative and microfinance institution locations across Ecuador.
• ICORED (Red de Integración Ecuatoriana de Cooperativas)coreStrategic or Co-development PartnerICORED is a key distribution partner for the Yo Decido Mi Futuro financial education initiative, helping to reach cooperative members and clients through its network of Ecuadorian cooperatives. ICORED is part of the first National Financial Education Network of Ecuador together with the USAID-WOCCU project and Coonecta RT.
• Sello Coonecta Strategic Partners (Technology Vendors)minorStrategic or Co-development PartnerThe Sello Coonecta program certifies and promotes vetted technology vendors to member financial institutions, offering them a curated pool of evaluated suppliers for hardware, software, and services. These partners include payment technology providers, security firms, and digital banking solution companies. Eight strategic partners are listed on the Sello Coonecta page.
• 75+ Financial Institutions (Cooperatives, Banks, Mutualists)coreStrategic or Co-development PartnerOver 75 financial institutions (cooperatives, banks, mutualists) participate in the Coonecta RT network as members and clients. Many are represented on the board of directors and form the ownership base of the company. The network includes entities such as CACPE BIBLIAN, CHIBULEO, SAN FRANCISCO, CACPECO, LA BÉNÉFICA, SAN JOSÉ, PEDRO MONCAYO, COOPAD, Banco Capital, Banco del Litoral, Banco VisionFund Ecuador, and many others spanning all Ecuadorian provinces.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Redeban (Colombia): Redeban operates Colombia's largest ATM and payment network connecting banks and financial institutions through shared infrastructure — directly comparable to Coonecta's ATM interconnection and card processing model in Ecuador. Both serve as neutral, non-competing infrastructure aggregators for a national FI base.
• Prosa (Mexico): Prosa is one of Mexico's largest payment processors, providing card processing, ATM switching, and transaction routing infrastructure for Mexican financial institutions — a direct analogue of Coonecta's core transaction processing and card issuance/processing stack.
• Red Link (Argentina): Red Link is an Argentine ATM and digital banking network connecting cooperatives, mutual banks, and regional FIs — closely mirroring Coonecta's role as a cooperative-bank-led network aggregator for shared transaction infrastructure in Argentina.
• COELSA (Argentina): COELSA is Argentina's leading payment clearinghouse and interbank transfer processor, handling clearing and settlement for FIs — comparable to Coonecta's clearing, settlement, and transaction routing layer for cooperative/microfinance FIs.
• Credibanco (Colombia): Credibanco is a Colombian card payment processor and ATM network operator for banks and FIs — analogous to Coonecta's Visa Coonecta debit card and ATM network business lines, with similar merchant acceptance and cross-issuer switching services.

Broad incumbents

• Evertec: Evertec is a large LatAm-focused payment processor and technology provider serving banks, merchants, and government entities with card processing, ATM driving, and digital banking — a broader incumbent offering overlapping capabilities to Coonecta across the region.
• Western Union: Western Union is a global cross-border money transfer leader — both a partner-competitor to Coonecta as VIGO/RIA/DINEX/Intercambio Express route through COONGIROS for Ecuador payout, and a structural competitor for the international remittance volume Coonecta processes.
• Remitly: Remitly is a US-headquartered digital remittance platform serving LatAm corridors including Ecuador — competing directly with the COONGIROS integrated remittance providers for end-user remittance flows into the cooperative/microfinance sector.
• Cielo (Brazil): Cielo is Brazil's largest card payment processor and merchant acquirer — a much larger incumbent in the broader LatAm payment processing space with overlapping card and merchant acceptance capabilities to Coonecta's offering.
• Stone Co. (Brazil): Stone is a major Brazilian payment processor and SMB-focused acquirer serving merchants and integrated FIs — a broader incumbent operating payment infrastructure across multiple verticals, comparable in product mix to Coonecta's merchant and card services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RTCCoonecta
• LinkedInlinkedin.com/company/coonecta-red-transaccional-ecuador
• Instagraminstagram.com/rtccoonecta
• Xx.com/CoonectaRT

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 COONECTA Red Transaccional