Q COSTARICA — As digital payments become more widespread and convenience grows, a new paradox is emerging in Latin America and the Caribbean: while consumers are increasingly confident in their ability to navigate the digital world, fear of fraud and scams remains their primary concern.
According to the latest regional cybersecurity survey conducted by Mastercard, 54% of Costa Ricans consider fear of fraud their biggest frustration when making digital transactions.
The most common scams in our country are: phone calls (31%), social media fraud (29%), and phishing via email or SMS (26%); however, there is greater concern about more sophisticated cybercrime methods such as deepfakes and voice clones (48%).
Regarding the adoption of digital payment methods, 85% used debit cards and 54% used credit cards between September and November 2025. Other payment methods, such as real-time transfers (56%) and digital wallets (46%), have become integrated into the daily routines of Costa Ricans, especially among young people and men.
Furthermore, 81% of respondents feel confident in their ability to protect themselves, although women demand more alerts for suspicious activity (65%) and clear refund policies (66%). Mastercard notes that almost half of the sample has received security training from their bank, but a gap persists for women.
“Digital transformation in our region is advancing steadily, and with it comes a dual reality: people trust technology, are increasingly tech-savvy and open to innovation, but they also recognize that scams are evolving and becoming more sophisticated. This presents us with a great opportunity: to work together to close the trust gap by offering solutions that allow businesses and consumers to anticipate threats and better protect themselves,” said Kattia Montero, Country Manager for Costa Rica and Nicaragua at Mastercard.
Regional Perspective
Eight out of ten Latin Americans (80%) say they feel capable of protecting themselves online, a clear indicator of the region’s growing digital maturity. However, almost half (47%) identify fraud and scams as their biggest frustration when making digital transactions, highlighting a crucial tension between trust and caution in an era of increasing financial inclusion.
To protect people in the digital environment, Mastercard goes beyond transaction security, protecting every digital interaction. The company leverages artificial intelligence, advanced analytics, and behavioral modeling to anticipate and prevent cyber threats before they occur, backed by a US$11 billion investment in cybersecurity over the past five years. The company recently launched Mastercard Threat Intelligence, the first solution of its kind to apply threat intelligence at scale across the entire payments ecosystem, enabling banks to detect and respond to emerging threats before fraud takes place.
Digital Trust Meets Caution
Consumer engagement with digital finance has increased across the region, with debit cards (89%) and credit cards (84%) dominating daily transactions. New payment technologies are also booming: real-time transfers (79%) and digital wallets (74%) are rapidly gaining traction as consumers embrace speed and convenience.
But this same momentum has also generated new concerns. Beyond fraud and scams, privacy concerns (32%) related to the use or sharing of personal or financial data continue to worry users. The emergence of AI-driven fraud, such as deepfakes and voice cloning, is particularly alarming: 43% of respondents cite it as an emerging threat that is transforming perceptions of security in digital spaces.
The New Face of Fraud
Traditional scams are evolving rapidly. Phone and voice scams remain the most common type of fraud in Latin America (32%), closely followed by social media and phishing attacks. These tactics, increasingly driven by advanced technologies, have made it difficult even for the most tech-savvy consumers to distinguish between real and fake, increasing vigilance and frustration.
Trust and Transparency Are Key to Digital Growth
The data also underscores the importance of trust in sustaining digital adoption. Banks (88%) and payment networks like Mastercard (85%) were ranked as the most trusted institutions for maintaining the security of money and data. This trust forms a fundamental basis for continued digital growth in a region where inclusion and innovation are transforming how people pay and receive money.
Consumers also expressed clear preferences for features that enhance their sense of security:
• Proactive alerts and monitoring tools (66%)
• Clear fraud protection and refund policies (55%)
• Stronger authentication methods, such as biometrics or access keys (32%)
These expectations reveal an opportunity for the industry: to combine education, transparency, and intuitive security design that empowers consumers while maintaining the region’s digital momentum.
Linking Innovation and Security
Despite evolving threats, optimism remains high. More than half of consumers say they are more excited about faster and simpler payments (47%) and more secure online shopping thanks to biometrics and tokenization (31%)—innovations that combine convenience and trust.
“These findings demonstrate that the digital economy will continue to accelerate when we make trust and security inseparable from innovation,” said Ana Lucía Magliano, Executive Vice President of Services for Mastercard in Latin America and the Caribbean. “People are looking for visible security, such as alerts or biometric data, backed by robust, invisible protections that work in the background.”
At Mastercard’s Annual Innovation Forum last December, the brand explored how it protects the digital ecosystem with Mastercard Threat Intelligence, as well as other solutions that help businesses grow, digitize, and protect their operations.
Scope and Methodology of the Research
The study was led by Mastercard and conducted by the independent research agency Many Minds Group. In October 2025, a quantitative online survey was conducted with 3,577 adults in 12 Latin American and Caribbean countries: Argentina, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Guatemala, Mexico, Panama, Peru, and Puerto Rico.
The sample included banked consumers who had made e-commerce purchases or used online banking in the previous six months, representing the general online population aged 18 to 65.