Costa Rica: 60% Prefer to Pay in Cash

Six out of ten consumers prefer to shop for goods and services using cash, not credit cards.

Monday, September 17, 2012

For credit card payments, the percentage of consumers who use it increases the higher the income bracket, whereas overall 28% pay by card, in the case of higher-income consumers the percentage increases to 42%.

"The preference for cash is widespread and to corroborate it, in 2011 the Banco Central recorded a total of 184 million card transactions (credit and debit), but there were also 170 million withdrawals from ATMs, said Carlos Melegatti, COO of Central Banco Central.

To gauge this, it should be noted that in the country 50% of the population is excluded from the financial system, consumers who have no choice but to use cash to meet their payment needs", reported Elfinancierocr.com



More on this topic

Costa Rica: 15% of Consumption Paid for with Plastic

November 2016

70% of consumer spending is done using cash, 11% with other means of payment, 8% using debit cards and 7% by credit card.

Only 15% of commercial transactions in Costa Rica are made using debit or credit cards. The State of the Nation points out that although 14% of upper management "...

Nicaragua: Little Use of Credit and Debit Cards

November 2016

Cash is the most frequently used method of payment, compared to the use of credit cards, debit cards and electronic transfers.

The results of the study prepared by the Central Bank indicate that 95% of individuals and 94% of establishments with economic activities, used cordobas. Only 4% of natural persons and 7% of establishments with economic activities use dollars.

Nicaragua: Prepaid Cards on Mass Transit

February 2013

With an investment of $6 million, a card payment systems will be installed on buses, with operations starting in April.

The system aims to prevent drivers having to carry cash, as passengers will only be able to use the service through prepaid cards.

Ruben Altamirano, vice president of the Regional Union of Collective Transport Cooperatives (Urecootraco) noted that "carriers will not invest money in the installation of equipment or issuing the cards, but rather companies interested in the business will do so.

Tender for Credit Card Payment Services

July 2012

The Municipality of Guatemala is inviting bids for the procurement of payment processing services via credit card.

The purpose of the tender is to optimize revenue management through electronic payment processing services, to facilitate transactions for users and neighbors with the Municipality of Guatemala and their companies.by using information and communication technologies that are both streamlined and secure.

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