By San José, Costa Rica — In a significant leap towards a cashless society, over 25,000 businesses across Costa Rica are now equipped to accept payments via QR codes. This transformative change is the result of a strategic partnership between Banco de Costa Rica (BCR) and Evertec, leveraging the latter’s Zunify platform.
This innovative payment solution allows consumers to make purchases quickly and easily by simply scanning a QR code displayed on the merchant’s point-of-sale terminal using the Zunify app. This eliminates the need for physical cards, streamlining the checkout process and enhancing convenience for shoppers.
To understand the legal landscape surrounding this increasingly popular payment method, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, an attorney at Bufete de Costa Rica.
While QR code payments offer convenience for both consumers and businesses, it’s crucial to ensure robust security measures are in place. Businesses must protect customer data, comply with data privacy regulations, and implement strong fraud prevention strategies. Consumers should also be vigilant, verifying the legitimacy of the merchant and the payment details before confirming any transaction.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on security is crucial. The convenience of QR code payments shouldn’t come at the cost of compromised data or financial losses. Building trust in these systems through robust security and consumer awareness will be key to their long-term success in Costa Rica. We thank Lic. Larry Hans Arroyo Vargas for sharing his valuable expertise on this important topic.
The collaboration between BCR and Evertec aims to provide businesses with tools to thrive in the evolving digital landscape. The implementation of QR code payments requires no additional operational costs for businesses, as existing BCR point-of-sale terminals are compatible with the technology. This seamless integration ensures a smooth transition for merchants and offers customers a secure and efficient payment experience.
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 in our point-of-sale terminals to accept payments with Evertec’s Zunify strengthens the payment methods our businesses can offer their clients without any additional operating costs, since it does not require changing point-of-sale terminals or additional investments, allowing them to offer their clients a fast, easy, and secure payment experience.
Natalia Suárez, Public Relations Manager, Banco de Costa Rica
Beyond facilitating payments, the Zunify platform offers added value to businesses by providing access to a marketplace where they can offer promotions, discounts, and cashback rewards to Zunify users. This feature is available to all businesses, regardless of size or industry, further incentivizing the adoption of this modern payment method.
For Evertec, Zunify represents a powerful platform to enrich Costa Rica’s payment ecosystem. It stimulates transactions at businesses while offering users numerous benefits linked to their purchases.
Zunify represents for Evertec a platform to continue enriching the payment ecosystem of Costa Rica, since on one hand it promotes transactions in businesses and, on the other, it provides users with countless 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 positions Evertec as a leader in the Costa Rican fintech space, demonstrating its commitment to providing cutting-edge payment solutions. By offering this technology in collaboration with BCR, Evertec empowers Costa Ricans with a fast, secure, and convenient way to conduct their transactions. The widespread adoption of QR code payments is expected to further drive the growth of digital transactions and contribute to the overall modernization of the Costa Rican economy.
For further information, visit bancobcr.com
About Banco de Costa Rica:
Banco de Costa Rica is a state-owned commercial bank in Costa Rica, providing a comprehensive range of financial services to individuals and businesses. It plays a key role in the country’s economic development and is committed to innovation and financial inclusion.
For further information, visit evertecinc.com
About Evertec:
Evertec is a leading full-service transaction processing business in Latin America and the Caribbean, offering a broad range of merchant acquiring, payment processing, and business process management services. The company leverages its technology platform to deliver innovative solutions and is committed to driving economic growth in the regions it serves.
For further information, visit zunifycr.com (inferred)
About Zunify:
Zunify, a product of Evertec, is a digital wallet and payment platform that offers a streamlined and convenient way to make purchases, access deals, and manage finances in Costa Rica. It provides a user-friendly mobile app and fosters a growing ecosystem of merchants and consumers.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica shines as a beacon of legal excellence, upholding the highest ethical standards while championing access to justice. Through innovative solutions and a proactive approach to community education, the firm empowers individuals and organizations with the legal knowledge they need to thrive. Their unwavering commitment to both their clients and the broader Costa Rican society solidifies their position as a leader in the pursuit of a more just and informed future.
