Growth in Electronic Transactions in Nicaragua

In 2017, the amount of electronic payment services provided totaled $40.510 billion, which represented about three times the value of Nicaraguan GDP.

Monday, March 5, 2018

In 2017 the value of transactions increased by 15.6% with respect to 2016, behavior explained mainly by a greater dynamism in the operations of the Automated Clearing House (ACH), as these grew by 198%, while BCN operations did so by 7.8%.

From a report by the BCN:

The amounts of electronic payment services provided amounted to 1,253.7 billion córdobas in 2017, representing about 3.0 times the Gross Domestic Product (GDP). Of these, 89.5 percent corresponded to services provided by the BCN and the rest by the ACH. 

Regarding growth dynamics, the value of transactions increased by 15.6 percent with respect to 2016, behavior explained mainly by a greater dynamism in the operations of ACH, which reflected a growth of 198.0 percent, while the operations of the services offered by the BCN did so at 7.8 percent. In relation to the type of currency, use of national currency predominated, making up 62 percent of the value traded.

See "Report on Payment Systems and Services in Nicaragua" (in Spanish).

More on this topic

More Electronic Transactions in Nicaragua

August 2018

During the second quarter of 2018 the amount of electronic payment services provided amounted to $10.455 billion, 21% more than in the same period in 2017.

Payment services offered by the Central Bank of Nicaragua were channeled mainly through the Nicaraguan InterBank Electronic Payments System (SINPE), with transactions amounting to 323,569.7 million córdobas (93.7 percent of the services offered by the BCN), reported the institution.

Nicaragua: Electronic Payments Continue to Grow

May 2018

During the first quarter of 2018, the amount of electronic payment services provided totaled $16,254 million, 62% more than in the same period in 2017.

The Central Bank of Nicaragua reported that within the operations of electronic payments made in the first three months of the year, " ...

Online Banking in Nicaragua

April 2016

Starting April 21, 6 nicaraguan banks will include among its services online money transfers.

The six banks are part of the ACH Unired network, an entity authorized by the Central Bank of Nicaragua to operate in the country. Some banks offer no-cost transfers, while others charge transaction fees ranging between $5 and $20.

Panama: Same Day Money Transfers

April 2016

An agreement is in effect which requires banks to immediately register all customer transactions made through online banking services or at ATMs.

From April 1 all banking transactions made by the ACH system in Panama may be compensated and be made available to customers on the same day of the transaction.

 close (x)

Receive more news about Banking

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Management software for construction companies

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Oct 15)
Brent Crude Oil
79.91
Coffee "C"
122.20
Gold
1,231
Silver
14.745