Is there a charge for Faster Payments?

Is there a charge for Faster Payments?

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With SPEI® you can pay tuition, rent, your gym monthly fee, your home loan payment, your car loan, send money to your loved ones…in short, SPEI® is the best alternative to make your payments quickly and securely.

1. The Electronic Payment Voucher (CEP) is an electronic voucher or document issued by Banco de México for informational purposes to guarantee that a payment has been made. The CEP is generated with the information that the bank that received the payment sends to SPEI as confirmation of the payment deposit, which can take up to a maximum of 30 minutes.

It is informed when the payment was cancelled by the bank where the applicant’s account is held. A payment can be cancelled before the money is transferred, because once it has been deposited it cannot be cancelled.

That is, you can validate that the digital seal with which the electronic voucher was signed, as well as the information contained therein, correspond to the information provided by the bank that received the payment in SPEI®. If you want to validate the CEP provided to you as evidence of the payment, you must also have the CEP in XML format and use the following application for its validation:

Payment methods in a business

Security: We reduce the risk of fraud, impersonation and money laundering through virtual biometric authentication services, risk engines, KYC (Know your costumer) and transactional monitoring.

Add contactless payments by offering your customers the possibility to pay through a QR code. Facilitate and speed up payments in your business with a secure and proven system that provides transparency and confidence to your customers.

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Additional functionalitiesWith the payment solutions you have extra functionalities that you can access at no additional cost, with which you will optimize the services offered by our gateway.

It applies to all types of businesses and makes it easier to determine the items discounted for taxes and commissions, by combining the information from the bank’s acquiring file with the information from the payment gateway.

Ideal for merchants who want to store the token and who are looking to improve the purchase process for recurring users since they will not have to register their card information every time they make a purchase.

Card payment methods

An approval by the Central Bank will allow to increase the amount that corresponds to quick payments, that is, you will no longer have to hand in your cedula or sign the receipt if you make purchases or payments for less than ₡30 thousand, this due to a request made by the Costa Rican Banking Association (ABC).

With this change, the transactions that fall into the category of quick payments will be raised from 70% to 85%. “This request from the ABC, to increase from ₡15 thousand to ₡30 thousand the amount of quick payments is in line with the measures that have been taken in other countries to prevent the spread of Coronavirus, so we seek to avoid the exchange of objects that could be contaminated and instead promote contactless payment in the card market,” said María Isabel Cortés, Executive Director of the ABC. {By combining contactless payment, in which the card does not have to be handed to the cashier or clerk, together with quick payment, where it is not necessary to hand in the ID card or use a pen to identify oneself and sign the voucher, the appropriate hygienic conditions are created to significantly avoid the exchange of objects when making a payment at the store.

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Payment methods for a product

When displayed on a card, the EMVCo* Contactless Payment Indicator means that the card has the ability to make contactless payments. When displayed at your merchant, it means that the merchant accepts contactless payments. The EMVCo* Contactless Payment Symbol tells the customer where to bring their contactless card close to the terminal to make a contactless payment.

The card or device must be held no more than 1 to 2 inches (approximately 4 cm) away from the contactless payment symbol displayed on the payment terminal. Simply passing near a terminal is not sufficient to cause a payment to be processed to a customer’s contactless card.

No. It is not necessary for the customer to physically touch the terminal with the card. However, it is necessary for the card to be in close proximity (within 1 to 2 inches, approximately 4 cm.) of the contactless payment symbol.

Once prompted to pay (by you, by a light on the terminal enabled to process contactless payments, or otherwise), the customer simply brings his or her card close to the terminal where he or she sees the contactless payment symbol.

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