After years of wondering if the day would ever come, today Costa Rican e-commerce got the boost it was looking for.
Leading online payment processor, Paypal, today announced their alliance with Banco National (BN).
What this means is that now, online sellers located in Costa Rica, can place a Paypal button on their online store and when the transaction is processed, it will done through Banco National.
In order to utilize this long overdue method of accepting payments online, all you need is a Paypal account and then later link it with their Banco National account.
PayPal is a leading global e-commerce business allowing payments and money transfers to be made through the Internet. They are owned by Ebay.
Originally, a PayPal account could be funded with an electronic debit from a bank account or by a credit card at the payer’s choice. But some time in 2010 or early 2011, PayPal began to require a verified bank account after the account holder exceeded a predetermined spending limit. After that point, PayPal will attempt to take funds for a purchase from funding sources according to a specified funding hierarchy, regardless of what funding source is listed as “primary” in the account-holder’s profile.