CS Ahorro y Crédito Pioneers Digital Transformation with Way4 Platform

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In a strategic move towards digital transformation and financial innovation, CS Ahorro y Crédito, formerly known as Coopeservidores, a prominent financial cooperative, has unveiled a groundbreaking e-commerce acquiring service. The innovative platform, integrated into OpenWay’s Way4 digital payment solution, sets the stage for a people-centric strategy aimed at elevating the quality of life through enhanced financial solutions.

Embracing Cutting-Edge E-commerce Acquiring Service

CS Ahorro y Crédito’s foray into the digital realm is marked by the introduction of a state-of-the-art e-commerce acquiring service on OpenWay’s Way4 digital payment platform. This cloud-based tool, managed by an OpenWay partner specializing in Software as a Service (SaaS) and holding PCI DSS certification for Mastercard and Visa, caters to both acquiring and issuing members. The move reflects the financial cooperative’s commitment to delivering innovative and comprehensive payment solutions that prioritize convenience, security, and efficiency.

Strategic Digital Transformation Initiatives

This milestone aligns with CS Ahorro y Crédito’s broader digital transformation strategy initiated in 2022, accompanied by a rebranding initiative. The cooperative aims to unlock new opportunities within the digital payment value chain, particularly targeting growth in the burgeoning e-commerce sector. With projections indicating a substantial surge in the Latin American retail sector—expected to generate over $307 billion annually by 2027 with 380 million digital shoppers—the credit union is strategically positioned to leverage these opportunities.

Comprehensive Way4 Platform Integration

The integration of OpenWay’s Way4 platform empowers CS Ahorro y Crédito to swiftly launch unique products and merchant strategies. The platform’s flexibility allows for easy configuration according to customer requirements, spanning the entire payments landscape. This includes issuing, acquiring, digital wallets, transaction switching, BNPL (Buy Now Pay Later), instant payments, account-to-account payments, QR codes, tokenization, and more.

Global Expertise Meets Regional Nuances

Ricardo Contreras Arcos, OpenWay Sales Representative for Latin America, emphasizes the collaborative partnership with CS Ahorro y Crédito in navigating the complexities of the Latin American payments ecosystem. OpenWay’s global expertise, combined with a focus on regional nuances and unique technical requirements, positions the company as a strategic partner in CS Ahorro y Crédito’s expansion journey.

CS Ahorro y Crédito: A Pillar in Costa Rican Finance

With a rich history spanning 66 years in the Costa Rican market, CS Ahorro y Crédito stands as a pillar in the financial landscape. As part of the Grupo CS conglomerate, alongside sister companies such as CS Corredora de Seguros, the Innovation Center, Nova Hub, and Innovalex specializing in legal services, the cooperative remains committed to driving financial innovation and positively impacting the lives of its members and the broader community. Adriana Gentilini, Manager of Payment Methods at CS Ahorro y Crédito, praises the collaborative and flexible approach of OpenWay during the sales and delivery process, emphasizing the achievement of excellent results and facilitation of agile practices. As CS Ahorro y Crédito pioneers digital transformation, it emerges as a beacon of innovation within the Costa Rican financial landscape, poised for sustained growth and impact.