Costa Rican Banks go Digital

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    by TCRN Staff

    According to Francisco Carvajal, director of financial services for the Central Bank, they has licensed five commercial banks; Banco Popular, Banco Nacional, Banco de Costa Rica, BCT, BAC San José, to offer digital bank cards.

    The digital card is a device similar to a credit or debit card with an embedded chip, on which is stored a digital certificate that gives customers the ability to authenticate the card on web sites that have this functionality, and digitally sign Internet transactions.

    In the Central Bank, the card, certificate and a reader that plugs into the personal computer cost ¢23,000 and BAC San José the equipment costs $35 (¢ 19,460, the exchange rate of ¢ 556).

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