Thursday 1 December 2022

New maximum fees for card payments

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1 December 2022 - At The Banks - BCCR

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QCOSTARICA – The Banco Central de Costa Rica (BCCR) – Central Bank, announced a cut in maximum rates for processing credit and debit card transactions.

Lower commission rates go into effect on March 14

The Board of Directors of the Central Bank set, in a session held on January 12, set the new maximum fees for the payment card system in 2022. These maximum fees will come into effect on March 14.

The following limits were established:

  1. A maximum percentage commission of 2.25% on the value of the payment for transactions carried out with cards issued by a national issuer (transaction local payment). This commission is applicable for all types and amounts of transactions, for all types of payment device (dataphone) and for all commercial activities, with the exception of the activities detailed in point 3 below.
  2. A maximum percentage commission of 2.50% on the value of the payment, for transactions carried out with cards issued by a foreign issuer (transaction cross-border payment), applicable for all types and amounts of the transaction, for all types of payment device (dataphone) and for all activities commercial activities, with the exception of the commercial activities detailed in the point 3 below.
  3. A maximum percentage commission of 1.50% on the value of the payment in local and cross-border payment operations for the following activities:
    a) Service stations.
    b) Charitable organizations.
    c) Transportation services regulated by the Regulatory Authority of Public Services (ARESEP).
    d) Tolls.
  4. A maximum charge of ¢12,500 colones per month for the cost of the point of sale terminal (dataphone).
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More information on the maximum commissions of the card system approved by the BCCR, and on the technical study on which the fixing was based, can be found at the BCCR website www.bccr.fi.cr.

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