SINPE Móvil: The BCCR’s star service that revolutionized digital payments in Costa Rica

In recent years, SINPE Móvil has become part of everyday life for millions of people in Costa Rica. Phrases like “I’ll SINPE it to you” or “Send it via SINPE” are now common. Yet, despite its popularity, not everyone fully understands how it works, why it’s so useful, or what precautions should be taken.

In this article, we explain it clearly, simply, and practically.

What is SINPE Móvil?

SINPE Móvil is a service operated by the Central Bank of Costa Rica (BCCR) that allows people to send and receive money using only the recipient’s phone number.

You don’t need to know the full bank account number, nor do both parties need to use the same bank. As long as both users are registered with the service, the transfer happens instantly.

The service operates 24/7, including weekends and holidays. For small amounts, it’s free or very low-cost (depending on the financial institution).

How do you use SINPE Móvil?

The process is very simple:

• Activate SINPE Móvil from your bank's app, linking your phone number to your bank account.
• To send money, simply enter the recipient's phone number, the amount, and confirm.
• The transfer is processed instantly, and the recipient receives the funds directly into their bank account.
• All funds remain within the national financial system — not in an external app or virtual wallet.

Why has it made life easier?

Previously, transferring money meant knowing long account numbers, visiting the bank, or waiting for business hours. Now, with SINPE Móvil:

• You can send money in seconds, anytime.
• No need to carry cash.
• No lines or paperwork.
• You can pay for services, split bills, or make purchases easily.

This has made it the preferred tool for both individuals and small businesses.

Who can use SINPE Móvil?

One of its greatest advantages is how accessible it is:

• People selling products or services from home.
• Freelancers or independent workers.
• Students, retirees, or anyone who needs to send or receive money.
• Small businesses that previously only operated with cash.

You only need a smartphone with internet access and an active bank account. No technical or financial expertise is required.

What impact has it had in Costa Rica?

SINPE Móvil’s impact on Costa Rica’s economy and society has been significant:

• Reduced cash usage, making payments safer and more traceable.
• Enabled greater financial inclusion, especially for those who previously didn’t use banking services.
• Empowered informal commerce and entrepreneurship by allowing businesses to collect payments without card terminals.
• Streamlined person-to-person (P2P) payments, making them instant.
• Pushed traditional banks to modernize their services.

Thanks to SINPE Móvil, Costa Rica is now one of the regional leaders in interbank mobile payments.

Tips for using SINPE Móvil safely

While the system is very secure, it’s always important to use it responsibly. Here are some basic tips:

• Double-check the number before sending money.
• Use contacts saved in your phone to avoid typing mistakes.
• Periodically verify that your number is properly linked.
• Keep your banking app up to date.
• Know your bank’s daily transaction limits.
• Activate transaction notifications to stay informed.

Common scams and how to avoid them

Where there’s money, there are always fraud attempts. Some common scams include:

• Fake deposits or “overpayments”: never return money without verifying with your bank.
• Phishing links via WhatsApp or SMS: never click on suspicious links; always access your bank through the official app.
• Calls requesting verification codes: banks will never request your PIN, token, or passwords by phone.

Caution and common sense are your best protection.

Pros and cons of SINPE Móvil

Advantages:

• Instant transfers every day of the year.
• Easy to use — only the phone number is needed.
• Free or low cost for small amounts.
• Accessible to individuals and small businesses.
• Reduces cash handling, improving safety.
• Works across different banks.

Disadvantages:

• Daily transaction limits apply.
• Only works for transfers in Costa Rican colones.
• Relies on phone and app access.
• Typing mistakes can be hard to reverse.
• There’s a fraud risk if not used carefully.
• Doesn’t replace other payment methods for high-value transactions.

Conclusion: SINPE Móvil is here to stay (and it changed our lives)

Few financial tools have had such a clear, direct, and widespread impact in Costa Rica as SINPE Móvil.

It has moved us from cash to smartphones, from queues to seconds, and from complex account numbers to simple phone numbers — all backed by the national financial system and regulated by the Central Bank.

But as with any innovation, it also requires users to understand how it works, how to stay protected, and how to make the most of its benefits.

How does Zimplifica leverage SINPE Móvil?

At Zimplifica, we help businesses, fintechs, and startups integrate SINPE Móvil into their platforms securely and 100% digitally. This allows them to:

• Collect payments without needing card terminals.
• Automate payments with secure and traceable technology.
• Offer simple, modern mobile experiences.
• Connect to the Costa Rican financial system while remaining fully compliant with regulations.