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OMNI launches Costa Rica’s Super App

(QCOSTARICA) Omni officially launched the OMNiMoni service, a virtual bank or “neobank” focused on the implementation of fintech facilities from a smartphone. It currently has more than 300,000 downloads in the country. The product includes a digital wallet as well as a MasterCard debit card for...

More than 78% of the adult population in Costa Rica has a bank account

The most recent information from the Central Bank of Costa Rica (BBCR) indicates that 78.64% of the adult (over 18) population that lives in Costa Rica have at least one bank account. According to official data, 72.14% of people 65 years of age or...

Businesses to be fined if they do not accept plastic

Although not as common as it used to be, a business not accepting plastic still occurs. But starting in July, with the entry of the Impuesto al Valor Agregado (IVA) -  Value Added Tax - businesses that do not accept credit or debit cards...

Starting In December, All Businesses Must Accept Plastic

The Law Against Fiscal Fraud (Ley Contra el Fraude Fiscal) established two years ago, in December 2016, that at the end of 24 months (December 2018) any individual or business that offers services to the public must also accept payment in plastic. The El Financiero...

Card Payments Of Less Than ¢15,000 Do Not Require Signature or ID

Paying for purchases of ¢15,000 colones or less at Costa Rica retail outlets with credit or debit cards that have a chip or contactless technology no longer require the presentation of ID or have the voucher signed. The change was adopted by the Central...

Costa Rica Credit Card Debt Grows 23%

The number of cards in circulation in the country grew by 9% between July 2016 and July this year, and the balance of debt increased by 23% in the same period. That is the result of the latest quarterly study on credit and debit cards,...

Electronic Banking Takes Force in Costa Rica

(QCOSTARICA) Banks in Costa Rica are making more digital tools available to its customers to facilitate transactions and to avoid the lines at branches. Currently there some 2.5 million credit cards in circulation in Costa Rica. Although EMV cards (also called chip cards or IC cards)...

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