Global FinTech Guide
Country Name
Costa Rica
FinTechs belonging to this category provide identification services, which are required for most banking services.


Attitude of the country towards identification services

The identification market is an established market. FinTechs services in this business area are used by other FinTechs or by credit and financial institutions. 

Legal affairs

Obligations and requirements to provide identification services

Regarding the collection, storage, modification, and transfer of data retrieved during the identification process the Private Data Protection Regulation must be complied with.

Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area


Economic conditions

Market size for identification services and biggest companies in this business area

We do not have current numbers regarding the market for identification services. Prominent KYC-services provider are CeroRiesgo and Equifax.

Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area




© 2022, Lexincorp Central American Law Firm. All rights reserved by Lexincorp Central American Law Firm as author and the owner of the copyright in this chapter. Lexincorp Central American Law Firm has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.


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