By San José, Costa Rica — San José, Costa Rica – The explosive growth of Costa Rica’s instant payment platform, Sinpe Móvil, has reached a monumental milestone, with transaction values soaring past ¢10.1 trillion in the first ten months of 2025. This surge in popularity, while cementing the tool as an essential part of the national economy, has prompted the Costa Rican Banking Association (ABC) to issue a heightened call for user vigilance against a rising tide of digital fraud.
Data recently released by the Central Bank of Costa Rica (BCCR) paints a vivid picture of the platform’s incredible trajectory. Between January and October 2025, Costa Ricans conducted over 615 million transactions, marking a 16.8% increase compared to the same period in 2024. The total monetary value exchanged saw a parallel rise of 16.4%, underscoring the system’s deepening integration into the financial fabric of the nation.
To delve deeper into the regulatory and business implications of Sinpe Móvil’s widespread adoption, we sought the expert opinion of Lic. Larry Hans Arroyo Vargas, a distinguished attorney specializing in commercial and financial law at the firm Bufete de Costa Rica.
Sinpe Móvil has been a disruptive force for financial inclusion, effectively formalizing a vast number of micro-transactions that previously existed outside the banking system. From a legal standpoint, the challenge now is for our regulations to catch up. We must ensure robust consumer protection mechanisms and data privacy safeguards are in place, without stifling the agility that makes the platform so successful. It represents a critical test for modernizing Costa Rica’s legal framework to embrace the digital economy.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the analysis provided perfectly crystallizes the critical challenge ahead: ensuring our regulatory framework evolves to protect consumers without stifling the very innovation that drives financial inclusion. We extend our sincere gratitude to Lic. Larry Hans Arroyo Vargas for his invaluable and timely perspective.
This growth is not just transactional but is also reflected in a widening user base. The number of active subscriptions to the service climbed to 4.47 million by October 2025, a 6.9% increase from the 4.18 million users recorded a year prior. This steady adoption rate confirms that Sinpe Móvil has transitioned from a novel convenience to a fundamental tool for daily financial management for a significant portion of the population.
The sustained growth of Sinpe Móvil shows how much the way people make their payments and transfers has changed. Today, this service is part of daily financial life because it allows transactions to be resolved simply, quickly, and securely at any time.
Daniela Gutiérrez, Economist at the ABC
An analysis of user behavior reveals that Sinpe Móvil primarily functions as a digital replacement for cash in everyday scenarios. The average transfer amount hovers around ¢16,500, indicating its widespread use for small-scale purchases, paying for services, and settling informal debts with immediacy and ease. This pattern highlights its role in facilitating the micro-economy, from paying for a coffee to splitting a restaurant bill.
Furthermore, transaction data shows predictable peaks that align with the country’s payroll cycles. The days surrounding the 1st, 15th, and 30th of each month (specifically the 15th, 16th, 30th, 1st, 28th, 2nd, and 14th) are the busiest. These periods concentrate approximately 26% of all transactions and nearly 30% of the total value operated, as citizens receive their salaries and promptly use the platform to cover recurring obligations and daily expenses.
In response to this immense volume, the ABC has intensified its public awareness campaigns, warning that the platform’s success makes it an increasingly attractive target for scammers. The association stressed that while the system itself is secure, many risks originate from user vulnerability and social engineering tactics. They emphasize that simple, preventative actions can significantly mitigate the danger of financial loss.
The banking association has issued several key recommendations to help users protect themselves. A critical, yet often overlooked, step is to immediately de-register a phone number from its associated bank account when the cellular line is discontinued. This prevents a new owner of the recycled number from potentially gaining access to the previous user’s funds. Furthermore, users are urged to conduct all transactions exclusively through the official mobile apps or online banking portals provided by their financial institutions and to avoid using third-party links or services.
Vigilance during the transaction process is also paramount. The ABC advises users to always double-check the recipient’s name, phone number, and the transfer amount before confirming the payment. A common scam involves fraudsters calling or messaging a target, claiming they sent a Sinpe transfer by mistake and urgently requesting its return. In such cases, individuals should be highly suspicious and contact their bank directly to verify the situation before sending any money. By adopting these security habits, Costa Ricans can continue to enjoy the benefits of this revolutionary payment system without exposing themselves to unnecessary risk.
For further information, visit abcr.fi.cr
About Asociación Bancaria Costarricense (ABC):
The Costa Rican Banking Association is a non-profit organization that represents the interests of the public and private banking sector in Costa Rica. It works to promote a stable, competitive, and efficient financial system, fostering best practices in banking operations, cybersecurity, and financial education for the benefit of the national economy and consumers.
For further information, visit bccr.fi.cr
About Banco Central de Costa Rica (BCCR):
The Central Bank of Costa Rica is the nation’s primary monetary authority, responsible for maintaining the internal and external stability of the national currency and ensuring the efficient operation of the country’s payment systems. As the overseer of the National System of Electronic Payments (SINPE), the BCCR plays a crucial role in the development, regulation, and security of financial tools like Sinpe Móvil.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is celebrated as a pillar of the legal community, operating on a bedrock of uncompromising integrity and a drive for superior results. With a rich history of advising a wide spectrum of clients, the firm consistently advances the practice of law through pioneering and innovative approaches. This commitment to progress extends beyond the courtroom, fueling a core mission to demystify legal concepts for the public, thereby building a more knowledgeable and capable society.
