Fintech & payments regulation in Costa Rica (2026)

Legal framework

Ley Orgánica del Banco Central de Costa Rica (Law 7558, incl. 2020 reform / Article 15 Bis); BCCR Reglamento del Sistema de Pagos; BCCR Reglamento del Sistema de Tarjetas de Pago (December 2025); supervised by BCCR, SUGEF, and CONASSIF

Key points: digital payments & fintech in Costa Rica

1. 01Regulators

   CONASSIF is the senior financial supervisory steering body; SUGEF (Superintendencia General de Entidades Financieras) supervises financial intermediaries including non-bank fintechs; BCCR (Banco Central de Costa Rica) manages national payments infrastructure and issues related regulations.

   practiceguides.chambers.com bccr.fi.cr

2. 02SINPE instant payment rail

   BCCR's SINPE Móvil is Costa Rica's fast payment system enabling real-time P2P transfers via mobile number; over 80% of the population aged 15+ are active users, with 615+ million transfers recorded January-October 2025 (a 16.8% year-on-year rise). From September 2025, SINPE Móvil payments must be reported on electronic invoices.

   bis.org bccr.fi.cr easlatam.com

3. 03Payment Card System Regulation (Dec 2025)

   BCCR published the Reglamento del Sistema de Tarjetas de Pago in December 2025, introducing a maximum interchange fee of 1.00% and a maximum acquiring commission of 1.95% for local transactions, mandatory EMV and contactless standards for issuers, and a monthly ceiling of ₡100,000 for bearer prepaid devices.

   vixio.com bccr.fi.cr

4. 04Fintech supervision under existing banking law

   Article 15 Bis of Law 7558 (amended 2020) empowers SUGEF to supervise non-bank payment and fintech entities that raise funds from the public via digital wallets. Fintechs seeking SINPE access must first register with SUGEF for AML supervision and comply with SUGEF Agreements 11-18 and 13-19.

   practiceguides.chambers.com glclegal.com

5. 05Fintech Framework Bill (pending enactment)

   Bill 23093 (introduced July 2024) to establish a dedicated fintech licensing regime received unanimous approval from the Permanent Ordinary Committee on Economic Affairs on 29 April 2025, but as of May 2026 had not been enacted into law by the full Legislative Assembly.

   chambers.com glclegal.com

6. 06Open banking & BNPL

   CONASSIF inaugurated the Costa Rican Financial Innovation Center (CIF) in April 2022 to facilitate regulatory dialogue with fintech innovators. No formal open banking data-sharing mandate has been enacted; discussions remain exploratory. No specific BNPL regulatory framework has been identified for Costa Rica.

   practiceguides.chambers.com one.oecd.org

Timeline of decisions

1. 1 Sept 2025Guidance · official
   SINPE Móvil Receipts Made Mandatory Line Items on Electronic Tax Invoices

   A Ministerio de Hacienda fiscal requirement took effect requiring businesses to itemize SINPE Móvil collections on their electronic invoices, integrating the country's dominant fast-payment channel into the formal tax-reporting infrastructure.

   BCCR

2. 2 Jul 2025Law
   Virtual Assets Bill 22.837 Passes First Legislative Debate

   Bill 22.837 cleared its first debate in the Legislative Assembly with unanimous support, introducing a new Article 15 quáter to Law 7786 that would mandate VASP registration with SUGEF; the text was later remitted for a second first-debate vote to resolve procedural observations before final passage.

   The Tico Times

3. 29 Apr 2025Law
   Fintech Framework Bill (Expediente 24429) Approved Unanimously by Economic Affairs Committee

   The Permanent Ordinary Committee on Economic Affairs gave unanimous approval to the Ley Marco Fintech, a standalone licensing and regulatory framework for fintech companies, filling the legal gap that had left non-bank payment and lending fintechs in a regulatory grey zone, and forwarding it to plenary.

   Asamblea Legislativa de Costa Rica / Delfino.cr

4. 14 Dec 2023Decision · official
   BCCR Issues Revised Reglamento del Sistema de Tarjetas de Pago, Gateways and Aggregators Must Register

   The BCCR's Board of Directors promulgated a comprehensive revision of the Card Payment System Regulation, extending its scope to require payment gateways and aggregators to formally register with the BCCR for the first time, and tightening cross-border acquisition commission caps at 2.50%.

   BCCR

5. 19 Apr 2022Guidance · official
   Centro de Innovación Financiera (CIF) Inaugurated by CONASSIF, BCCR, and IDB

   Costa Rica launched its Financial Innovation Center, a non-binding regulatory sandbox and consultation body attached to CONASSIF, where fintech startups can engage all four financial superintendencies for pre-launch guidance; the first such institution in Central America, backed by the Inter-American Development Bank.

   Centro de Innovación Financiera (CIF) / CONASSIF

6. 24 Mar 2020Law · official
   Ley 9831 Enacted, Maximum Commissions for the Card Payment System

   Law 9831 was published in La Gaceta, delegating to the BCCR the power to set binding maximum interchange and merchant-acquisition fees; the BCCR subsequently capped interchange at 1.00% and acquisition at 2.50%, materially reducing the cost of card acceptance for Costa Rican merchants.

   Procuraduría General de la República — SCIJ

7. 1 Jan 2019Decision · official
   CONASSIF/BCCR FinTech Working Group Established

   The National Council for Supervision of the Financial System (CONASSIF) and the BCCR jointly created a FinTech Working Group spanning all four financial superintendencies to develop a common regulatory roadmap; this body produced the agenda that led to the CIF and the eventual Fintech Framework Bill.

   OECD

8. 1 Jan 2015Decision · official
   BCCR Launches SINPE Móvil, Instant Mobile Payments by Phone Number

   The BCCR launched SINPE Móvil, a 24/7 real-time P2P and B2C transfer service using mobile phone numbers as the only address; free for transactions up to ₡100,000 (~US$200), it became one of the world's most-adopted fast-payment systems with over 80% adult-population usage by 2025.

   Bank for International Settlements (BIS)

9. 17 Apr 1997Decision · official
   SINPE National Electronic Payment System Launched

   The BCCR launched SINPE (Sistema Nacional de Pagos Electrónicos) on April 17, 1997, connecting all Costa Rican financial institutions through a private network for interbank electronic transfers and check clearing; it formed the core infrastructure on which all subsequent digital payment services, including SINPE Móvil, were built.

   BCCR

Sources

1. 1.bccr.fi.cr/en/payments-system/general-information
2. 2.bccr.fi.cr/marco-legal/DocReglamento/Reglamento_Sistema_Pagos.pdf
3. 3.vixio.com/insights/pc-costa-rica-modernises-payments-regulations-new-rules
4. 4.practiceguides.chambers.com/practice-guides/banking-regulation-2025/costa-rica
5. 5.bis.org/publ/bppdf/bispap152_d_rh.pdf
6. 6.one.oecd.org/document/DAF/COMP/WD(2025)16/en/pdf
7. 7.glclegal.com/blog/fintech-in-costa-rica/
8. 8.chambers.com/articles/costa-rica-fintech-law-3
9. 9.easlatam.com/en/news/sinpe-movil-facturacion-electronica-costa-rica