From 1 January there will be big changes when paying by credit or debit card.

The Central Bank of Costa Rica reminds us that from January 1, 2024, there will be big changes in our country when paying with credit or debit cards.

Next year, there will be a new requirement for businesses to request a debit or credit card PIN on their data phone when purchases made exceed 50,000 colones or the same amount in another international currency, such as the dollar or US dollar. Euro.

Your credit or debit card PIN is four digits. There’s nothing special about this since this PIN is the same four digits you use to make ATM transactions.

If for some reason you do not know or do not remember this PIN code, you will need to contact the bank, cooperative or other financial institution that issued your card to issue you this code, as it will be required when paying for a larger amount . more than half of the tech in any business.

The Central Bank ensures that we can change as many times as we want or get a PIN without paying a penny for all the digital channels that banking institutions have, although they may charge a certain amount if you complete the procedure in person or using ATMs.

“As of September 30, 2023, more than 75,000 data phones have been updated. This means that they already require a PIN as a measure of customer authentication, which is an important step for successfully completing a payment transaction at the companies they already work for. , data phones.

“Businesses that have not yet updated their data phones may ask their financial institution to take appropriate action to ensure that they do not encounter security issues after December 31, 2023, and thus can adequately protect their customers,” the Central Authority said in a statement. . bank.

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