Nicaragua: Electronic Payments Continue to Grow

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.

Wednesday, May 2, 2018

The Central Bank of Nicaragua reported that within the operations of electronic payments made in the first three months of the year, " ... most are transactions in the BCN (88.7% of the total), although the ACH shows significant growth (131% in relation to the first quarter of the previous year)."

From a report by the Central Bank of Nicaragua:

The electronic payment systems and services offered by the Central Bank of Nicaragua (BCN) and ACH of Nicaragua in the first quarter of 2018 amounted to 503,016.2 million córdobas (312,128.1 million córdobas in the first quarter of 2017).

In relation to the type of currency used in the transactions, the use of national currency predominated, making up 69.6 percent of the value traded. 

Read full report (in Spanish).

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More on this topic

Nicaragua: Electronic Transactions Fall 40%

August 2019

During the second quarter of 2019, the amount of electronic payment services provided was $5,787 million, 40% less than in the same period of 2018.

The fall is mainly explained by the lower value traded in the Electronic Funds Transfers (EFT) module. The latter was because of the change in the operability of the daily operations of the NCB which, contrary to the second quarter of 2018, were liquidated outside the Nicaraguan Interbank Electronic Payments System (SINPE), reported the Central Bank of Nicaragua (BCN).

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.

Growth in Electronic Transactions in Nicaragua

March 2018

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

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%.

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.

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