QCOSTARICA — Bus companies and taxis, among other modes of paid public transport, must have an electronic payment system or they will not be able to renew their concessions.
Costa Rica’s legislators unanimously approved a reform to article 17 of the law that regulates paid public transport nationwide.
This new provision implies that if the concessionary companies fail to comply within a maximum period of two years for routes in the Greater Metropolitan Area (GAM) and four years outside the GAM, the Ministry of Transport (MOPT) may terminate any concession.
“It is an important step forward in many ways. Having cost information completely changes the way fares are defined.
“With this, we will have updated data to know the real number of passengers! It will help against money laundering, there will be traceability of money and it contributes to the safety of users. I thank President Rodrigo Chaves and Minister Laura Fernández for having called for this initiative,” said Ariel Robles Barrantes, legislator of the Frente Amplio (FA).
The National Electronic Payment System in Public Transportation (Sinpe-TP) was recently implemented in a small number of units.
According to the Central Bank of Costa Rica (BCCR), paying public transport fares in cash costs the country approximately 1% of the Gross Domestic Product (GDP).
In the case of public transport on regular bus routes, it has been estimated that the value of handling physical money is equivalent to approximately 21% of the administrative cost of bus companies.