Payment methods in Costa Rica

Multiple fintech-based digital wallets are gaining traction in Costa Rica's growing e-commerce market, including international platforms such as PayPal and regional offerings. BNPL providers such as Cleo and Venti (both active regionally) are expanding into the market.

Credit and debit cards lead in e-commerce payment share (~50%), issued by Banco Nacional, Banco de Costa Rica, BAC Credomatic, and other commercial banks. Cards are the default payment method for domestic and cross-border online shopping.

American Express is accepted at major hotels, restaurants, and tourism-oriented merchants in Costa Rica, primarily serving higher-income consumers and foreign visitors. Its market share is smaller than Visa and Mastercard.

SINPE Móvil is an instant payment system launched in 2015 by the Central Bank of Costa Rica (BCCR). It allows users to send and receive money instantly using only a mobile phone number as the alias, with transfers settling in real time between any of the participating banks. By mid-2024 it had 3 million users and 4 million accounts; by early 2025, active users exceeded 3.5 million conducting 15 million transactions per month. The system grew 27% in 2024 and has driven a dramatic reduction in cash and ATM usage.

Costa Rica uses IBAN-formatted bank account numbers for direct bank-to-bank transfers via the SINPE interbank electronic transfer network. IBAN transfers are widely used for larger transactions, business payments, and subscription services across the highly banked population.