Are Ticos getting hooked on credit cards?
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).
You may be interested
Looking back at Hurricane Maria: the initial impactJohn McPhaul - December 12, 2017
As Costa Rica joins many other nations in looking back upon the devastating 2017 hurricane season, longtime Tico Times contributor…
Cold front claims fourth victim in Costa RicaKatherine Stanley - December 12, 2017
High winds claimed the life of a fourth victim in Costa Rica as the cold front that has been moving…
With Keylor Navas battling injuries, Real Madrid eyes January swoop for Bilbao goalieAFP - December 11, 2017
Real Madrid's first foray into the January transfer market will be to snap up Athletic Bilbao's promising goalkeeper Kepa Arrizabalaga,…