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
Navas plays, Real Madrid falls 2-0 in what could be Tico goalkeeper’s final gameAlejandro Zúñiga - May 19, 2019
Real Madrid closed its season with a 2-0 home defeat to Real Betis on Sunday in what was likely Keylor…
Slothy Sunday: For the love of slothsDenise Gillen / Toucan Rescue Ranch - May 19, 2019
There are thousands of cute sloth photos floating around the internet, and we all love to ooh and aah over…
Morning-after pill can now be sold without a prescription in Costa RicaAlejandro Zúñiga - May 18, 2019
Levonorgestrel, marketed commercially as "Plan B" and commonly known as the morning-after pill, can legally be sold without a prescription…