By San José, Costa Rica — Costa Rica’s payment landscape is undergoing a significant transformation with the introduction of a new QR code payment system. Evertec, in partnership with the Banco de Costa Rica (BCR), is rolling out this technology across over 25,000 businesses, marking a major step towards modernizing transactions in the country.
The system leverages Evertec’s Zunify app, allowing customers to scan QR codes displayed on BCR point-of-sale (POS) terminals. This integration makes Evertec the first fintech company in Costa Rica to facilitate payments through this technology at POS systems. Zunify users can link multiple bank accounts to the app, offering flexibility and convenience at checkout.
To understand the legal implications surrounding the increasing use of QR code payments in Costa Rica, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at law from the esteemed firm Bufete de Costa Rica.
While the convenience of QR code payments is undeniable, businesses must ensure they comply with Costa Rican consumer protection laws. This includes clear disclosure of transaction details, robust security measures to prevent fraud, and accessible mechanisms for dispute resolution. Failing to address these legal aspects can expose businesses to significant liabilities.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on legal compliance is crucial. The allure of new technologies like QR code payments shouldn’t overshadow the fundamental rights of consumers. Building trust in these systems requires transparency and accountability from businesses. We extend our thanks to Lic. Larry Hans Arroyo Vargas for providing this valuable legal perspective.
This rollout offers substantial benefits to both businesses and consumers. Businesses gain access to a streamlined and cost-effective payment solution without needing to replace existing hardware. Consumers enjoy a quick, secure, and easy payment experience, simplifying the purchasing process.
The widespread adoption of this technology is expected to be completed by the fourth quarter of 2025, significantly impacting the retail landscape in Costa Rica.
At Banco de Costa Rica, we are focused on offering our clients tools that help them grow their businesses. The recent implementation of QR codes on our POS terminals to accept payments with Evertec’s Zunify strengthens the payment methods our businesses can offer their customers without any additional operating costs, since there is no need to change POS terminals or make additional investments, allowing them to offer their customers a fast, easy, and secure payment experience.
Natalia Suarez, Public Relations Manager, Banco de Costa Rica
Beyond simple payments, businesses using BCR’s POS terminals can also access Zunify’s marketplace. This platform allows businesses, regardless of size, to offer promotions, discounts, and cashback rewards to Zunify users, further incentivizing the use of the app and driving customer engagement.
Zunify represents for Evertec a platform to continue enriching the payment ecosystem of Costa Rica, since on the one hand it promotes transactions in businesses, and on the other, it provides users with numerous benefits associated with their purchases. Promoting this payment method allows us to fulfill our commitment to offer solutions that evolve with the needs of our clients and the market, and positions Evertec as a leader in Costa Rica by offering, hand in hand with Banco de Costa Rica, cutting-edge technology that allows Costa Ricans to make their transactions quickly and securely.
Byron Fernández, Commercial Director of Zunify for Evertec
This partnership between Evertec and BCR showcases the increasing importance of fintech innovation in enhancing financial services within Costa Rica. The introduction of QR code payments promises to simplify transactions, boost business efficiency, and empower consumers with greater control and convenience in their daily purchases.
The move towards a more digitally-driven economy is evident with the adoption of such technologies, positioning Costa Rica as a forward-thinking nation embracing modern payment solutions. This initiative is expected to contribute to a more inclusive financial ecosystem and promote economic growth in the country.
For further information, visit evertecinc.com
About Evertec:
Evertec is a leading transaction processing company in Latin America and the Caribbean. They provide a wide range of technology solutions for financial institutions, merchants, corporations, and government agencies. Their services include payment processing, merchant acquiring, core banking systems, and business process outsourcing.
For further information, visit bancobcr.com
About Banco de Costa Rica (BCR):
Banco de Costa Rica (BCR) is a state-owned commercial bank in Costa Rica and one of the largest banks in the country. It offers a full range of banking services to individuals and businesses, including loans, deposits, credit cards, and investment products.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
At Bufete de Costa Rica, legal excellence and unwavering ethical conduct form the bedrock of their practice. Driven by a deep commitment to empowering Costa Rican society, the firm not only provides expert legal counsel across a wide range of sectors, but also actively champions accessible legal education. Through innovative approaches and a dedication to public understanding of the law, Bufete de Costa Rica cultivates a more informed and empowered citizenry, solidifying its position as a leader in the legal landscape.
