Q COSTARICA — Transfers made through SINPE Móvil exceeded ¢10.1 billion colones between January and October 2025. The service’s rapid growth led the Asociación Bancaria Costarricense (ABC) — Costa Rican Banking Association, to reinforce its call for the responsible and secure use of this digital payment tool.
In the first ten months of the year, more than 615 million transactions were registered, a 16.8% increase compared to the same period in 2024, while the total amount transacted grew by 16.4%, according to data from the Banco Central de Costa Rica (BCCR) — Central Bank of Costa Rica.
The system’s progress is also reflected in the number of users. Active subscriptions increased from 4.18 million in October 2024 to 4.47 million in October 2025, representing a 6.9% growth and confirming that Sinpe Móvil is now an integral part of the population’s daily financial lives.
“The sustained growth of SINPE Móvil demonstrates how much the way people make payments and transfers has changed. Today, this service is part of daily financial life because it allows for simple, fast, and secure transactions at any time,” commented Daniela Gutiérrez, an economist at ABC.
Usage patterns show that it is a means for everyday payments. The average transfer amount is around ¢16,500 colones, which demonstrates that users primarily employ it for small purchases and payments, taking advantage of its speed and ease.
Furthermore, the 15th, 16th, 30th, 1st, 28th, 2nd, and 14th of each month see the highest activity on the system, accounting for approximately 26% of total transactions and 30% of the total value, coinciding with payroll dates and recurring obligations.
Given the increase in transaction volume, the ABC warned about the need to strengthen digital security habits and reminded users that many risky situations can be avoided with simple preventative measures.
Recommendations to Avoid Fraud
- Disconnect your phone number from your bank account when you stop using a cell phone (ie get a new phone number) to prevent someone else from using it.
- Only conduct transactions through official financial institution channels, such as apps or online banking.
- Always verify the amount, number, and recipient’s name before confirming any transfer.
- Be wary of messages or calls from people who claim to have sent a SINPE by mistake and request an immediate refund; if in doubt, contact your bank directly.
Banking officials emphasized that implementing these measures allows users to take advantage of the benefits of the mobile payment system without exposing their information or financial resources.
The Hidden Pitfalls of Using SINPE Móvil
Costa Rica’s SINPE Móvil was launched with the promise of revolutionizing how people send and receive money—offering instant transfers, convenience, and the allure of a cashless society.
As a government-backed platform integrated with the country’s existing banking network, it seemed like a no-brainer for anyone looking to make payments or send money swiftly using just a mobile phone.
But beneath the surface of this digital convenience, users are beginning to stumble upon several pitfalls that cloud the system’s appeal.
At first glance, SINPE Móvil feels like a dream come true. Send money in seconds, split bills with friends, pay for services without fumbling for cash—all from a smartphone. The technology rides on the simplicity of using a phone number linked to a bank account, eliminating the need for complicated account details.
But many users soon find that the system’s simplicity can come with frustrating limitations.
One major complaint revolves around security and fraud concerns. Although SINPE Móvil itself is secure, the ease of sending money to anyone with just a phone number has opened doors for scams. Victims often realize too late that they’ve sent funds to impersonators or been tricked through phishing messages that mimic legitimate notifications.
Another snag relates to accessibility. While the promise of financial inclusion shines on paper, SINPE Móvil assumes users have smartphones and reliable internet connections. In rural parts of Costa Rica, where connectivity can be spotty and not everyone owns a smartphone, this creates a digital divide.
The platform’s integration with banks also introduces bottlenecks. Users have raised issues about delays in receiving funds despite the system’s promise of instant transfers. Technical glitches and outages, though not frequent, can disrupt transactions at critical moments.
For merchants and small business owners who rely on daily cash flow, these hiccups can translate into lost sales and headaches. On the user experience front, the registration process and customer support leave much to be desired. Some users find linking their phone numbers to bank accounts confusing, especially older adults unfamiliar with digital tools.