Sinpe Móvil
"Sinpe Móvil" (Mobile Payment System) is a service aimed at the retail payment segment (for small amounts), making it possible for users of the National Financial System to make cash electronic transfers to accounts linked to mobile telephones from any electronic banking channel (Banca SMS, Banca Web Móvil, Banca App, On-Line Banking or Automated Teller Machine Network).
Its design provides customers with a safe payment mechanism which is interoperable, easy to access, has broad coverage and is highly available.
Goals
Provide customers of the National Financial System with a mass-market mobile payment mechanism to reduce demand for cash as a method of payment in the economy.
Subscription to the service
Affiliation with Sinpe Móvil must be requested in the financial entity where the account to be linked to the mobile telephone line is held.
Customer requirements
-The customer must have an open account with funds in colones in any of the financial entities that offer the service to their costumers.
-They must have an active mobile telephone line.
-They must also comply with whatever other specific requirements their financial services provider may have.
Affiliation of mobile telephones
-Telephone numbers can only be linked to accounts in colones.
-A mobile telephone number must be linked to a single account.
-The same account may be linked to one or more mobile telephone numbers.
-A single customer can link as many mobile telephone numbers and accounts as he or she wishes to the service.
Types of transactions that can be carried out
-Affiliation: enables customers to use the service on their mobile telephones.
-Mobile payment: allows making a transfer from a mobile telephone number affiliated with the service, whether the recipient account is in the same financial entity as the costumer account or in another entity that offers the service to its costumers.
-Balance inquiries: shows the balance of the account linked to the mobile telephone number.
-Transaction inquiries: shows the latest movements of funds in the account linked to the mobile telephone number.
-Cancelation: disables use of the service.
Financial limitis and commissions charged
-Payments made through a mobile telephone up to a daily total of ¢100,000 have no cost for the costumer. The financial entity may authorize a higher amount to a client, and it may also charge a commission on any amount that exceeds ¢100,000.
-Mobile deposits received in the fund account for up to a monthly accumulated amount of ¢1,000,000 have no cost for the costumer. The financial entity may authorize its costumer to receive a higher amount, and it may also charge a commission on any amount that exceeds ¢1,000,000.
Liquidation of transactions and service schedule
-The service is available to costumers twenty-four hours a day, every day of the year.
-Mobile payments are liquidated in real time (immediately) in the costumers’ accounts.
