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Banco Nacional

As of 2024, Banco Nacional de Costa Rica (BNCR) serves approximately 2.1 million customers in a country with a population of about 5.1 million. This makes it the largest bank in Costa Rica, providing a wide range of financial services, including support for international remittances and cross-border payments.

Method
Banco Nacional
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
2.1M
Disbursements
Yes
Yes
Chargebacks
No
Authorization currency
CRC
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

Regional Connectivity: Banco Nacional de Costa Rica enables seamless transactions across Latin America, effectively linking financial systems between Costa Rica and Colombia. This connectivity is vital for e-commerce businesses that rely on efficient payment solutions to reach customers across borders, especially in a region where remittances are significant

Support for International Transactions: The bank's ability to facilitate international remittances makes it an essential partner for families and businesses involved in cross-border e-commerce. With Costa Rica receiving substantial remittances—averaging $113.65 million annually since 1999—this payment method is critical for supporting consumers who purchase goods and services online from abroad

Established Trust: As one of Costa Rica’s largest banks, Banco Nacional provides secure and efficient payment services that are essential for fostering confidence among e-commerce participants. Its reputation as a trusted financial institution encourages users to engage in cross-border transactions, knowing their payments are handled securely