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.

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    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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