Central Bank of Costa Rica launches Monedero SINPE-TP prepaid card to bring electronic fare payments to 400,000 unbanked riders

The Central Bank of Costa Rica announced the Monedero SINPE-TP, a prepaid card within the National Electronic Payment System for Public Transport (SINPE-TP) that enables electronic payments on buses and trains without requiring a current or savings account. The initiative is aimed at around 400,000 daily public transport users in the Greater Metropolitan Area who are unbanked, while remaining available to any passenger. Monedero SINPE-TP supports contactless fare payments across roughly 2,000 validators installed on buses operated by 60 mass-passenger transport companies in the Greater Metropolitan Area and is restricted to public transport, meaning it cannot be used for retail purchases or ATM withdrawals. Reloads can be made via SINPE Móvil, bank transfers, or in person at participating correspondents; the monthly top-up limit is CRC 250,000 and there is no daily limit on the number of electronic reloads received. The card costs CRC 5,000, including CRC 4,000 of usable initial balance, allows up to 10 active cards per person, has a four-year validity, and can be purchased by anyone aged 12+ with valid identification; it also includes a printed SINPE Móvil number and an IBAN to receive transfers and deposits, including from public institutions. Users can check balances, travel history and payment status through the SINPE-TP Pasajero mobile app, while functionality to report theft or loss and block the card is being developed. Distribution starts in April through a pilot at Banco de Costa Rica’s Puntos Tucán and Banco Nacional’s BN Servicios in the San José metropolitan area, with subsequent rollout to their nationwide networks of 3,000 points each.