Are Ticos getting hooked on credit cards?

February 19, 2013

The number of credit and debit card owners in Costa Rica increased by 20.9 percent in 2012, the Central Bank (BCCR) reported on Tuesday.

Currently, 7.1 million credit and debit cards circulate in the country of 4.7 million. Of these, 22.6 percent (1.6 million) are credit cards. This means that on average each Tico owns at least one card (1.6 cards per person).

The BCCR report indicates that credit cards were used mainly for shopping (95 percent of transactions), while debit cards were used primarily to withdraw cash from ATMs (51 percent).

In the past four years, the use of debit cards as a payment method also increased from 43 percent of transactions in 2009 to 49 percent in 2012, according to figures detailed by the BCCR’s Payments System Division.

The value of all purchases made with cards (credit and debit) is equivalent to 18.5 percent of the gross domestic product, a figure that is similar to that registered in countries with high use of electronic payment methods such as Sweden (21.9 percent) and Belgium (17.1 percent).

Facebook Comments

You may be interested

Court rejects tax reform and asks legislators to eliminate four points
Costa Rica
732 views
Costa Rica
732 views

Court rejects tax reform and asks legislators to eliminate four points

Luis Fernando Cascante / Semanario Universidad - October 17, 2018

Costa Rica's Plenary Court has rejected the proposed tax reform bill in its current state and asked the members of…

30 protesters released from prison in Nicaragua
News
775 views
News
775 views

30 protesters released from prison in Nicaragua

AFP / The Tico Times - October 17, 2018

Nicaraguan President Daniel Ortega freed 30 political opponents on Monday, an action greeted with relief by human rights organizations. They…

La Sele continues to struggle, falls to Colombia, 3-1
La Sele
768 views
La Sele
768 views

La Sele continues to struggle, falls to Colombia, 3-1

Alejandro Zúñiga - October 17, 2018

One of La Sele’s shining moments happened right there, at the Red Bull Arena, a little over a year ago.…