Central Bank of Costa Rica to modernize SINPE Móvil with QR codes

The Central Bank of Costa Rica (BCCR) is working to modernize the SINPE Móvil payment system to streamline digital transfers. A primary feature of the proposed update is the implementation of QR codes, which would allow users to scan a code to automatically retrieve a recipient's phone number rather than typing it manually.

Carlos Melegatti, Director of the Payment Systems Division at the BCCR, stated that the goal is to reduce friction in the payment process. The bank is currently studying international standards and models used in other countries, such as Brazil, to define the technical components of the system.

Security is a major focus of the development process. The BCCR is investigating mechanisms to prevent the falsification of QR codes and to ensure that the information captured during a scan accurately matches the intended recipient. The project is in its early stages, with pilot plans potentially beginning in one to two years and full implementation estimated around 2028. The rollout will require coordination with financial institutions to integrate these features into their respective digital banking platforms.