# PSP/PSAV

> Source: https://docs.barcoder.ai/docs/standards/psp
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Banco Central de Nicaragua](https://www.bcn.gob.ni/)

## Overview

**PSP / PSAV** (Proveedores de Servicios de Pago — Payment Service Providers / Proveedores de Servicios de Activos Virtuales — Virtual Asset Service Providers) refers to **Nicaragua's fintech-licensed Payment Service Provider category**, established by the **Banco Central de Nicaragua (BCN)** through the **Regulation of Financial Technology Providers of Payment Services and Virtual Asset Service Providers** (in force since **2023**) <sup>[1][1], [2][2], [Nicaragua report](https://docs.barcoder.ai/docs/payments/NI)</sup>. The PSP license **authorizes provision of payment services through technological platforms including digital wallets, fund transfers, mobile points of sale, electronic money, and electronic-currency trading + exchange**.

The structural significance: **Approximately 12 institutions have registered with BCN as Financial Technology Providers of Payment Services (PSP)** including **most banks authorized to operate in Nicaragua + Fintech companies**. These PSPs offer **payment services such as digital wallets, mobile points of sale, electronic money, electronic-currency trading + exchange service, funds transfer service, and/or online payment gateways**. **Once licensed, companies are subject to BCN supervision + must submit periodic reports on operations, risk management, and regulatory compliance** — comprehensive regulatory framework.

The Nicaraguan PSP regulatory regime is **structurally distinctive in Central America** — it covers **both traditional payment services + virtual-asset services in a unified framework** (PSP + PSAV combined regulation). This **regulatory comprehensiveness** + **BCN ongoing supervision** + **periodic reporting requirements** + **indefinite license validity** create **stable foundation for Nicaragua's fintech-ecosystem development**.

## History

**Background — Nicaraguan payment landscape** <sup>[Nicaragua report](https://docs.barcoder.ai/docs/payments/NI)</sup>:
- **Banco Central de Nicaragua (BCN)** — central bank.
- **Superintendencia de Bancos y de Otras Instituciones Financieras (SIBOIF)** — banking regulator.
- Major Nicaraguan banks: BAC Credomatic NI, Banpro, Banco LAFISE Bancentro, Banco Avanz, Banco FICOHSA NI.

**2022 — New regulation for financial-technology providers** <sup>[3][3]</sup>:
- Pre-2023 development.

**2023 — BCN Regulation of Financial Technology Providers of Payment Services and Virtual Asset Service Providers comes into force** <sup>[2][2]</sup>:
- PSP + PSAV regulatory framework.

**~12 institutions registered as PSPs** <sup>[2][2]</sup>:
- Most banks + Fintech companies.

**Indefinite license validity** <sup>[1][1]</sup>:
- Subject to revocation for non-compliance.

## Technical specification

PSP is **BCN-licensed Nicaraguan Payment Service Provider regulatory framework** <sup>[1][1], [2][2]</sup>:

| Layer | Description |
|---|---|
| **Regulator** | **Banco Central de Nicaragua (BCN)** |
| **Regulation** | **Regulation of Financial Technology Providers of Payment Services and Virtual Asset Service Providers** (2023) |
| **License types** | **PSP** (Payment Services) + **PSAV** (Virtual Asset Services) |
| **Authorized services** | Digital wallets, fund transfers, mobile POS, electronic money, electronic-currency trading + exchange, online payment gateways |
| **Licensees** | ~12 institutions (banks + Fintech) |
| **Supervision** | BCN ongoing |
| **Reporting** | Periodic (operations, risk management, regulatory compliance) |
| **License validity** | Indefinite (revocable for non-compliance) |

## Use cases

**Digital wallets** <sup>[1][1]</sup>: Cardinal PSP service.

**Fund transfers** <sup>[2][2]</sup>: Inter-PSP + bank-PSP transfers.

**Mobile points of sale (mPOS)** <sup>[1][1]</sup>: Merchant acceptance.

**Electronic money issuance** <sup>[1][1]</sup>: E-money products.

**Electronic-currency trading + exchange** <sup>[1][1]</sup>: Forex + crypto.

**Online payment gateways** <sup>[2][2]</sup>: E-commerce.

## Implementations & ecosystem

**Regulator**: **Banco Central de Nicaragua (BCN)**.

**Banking regulator**: **SIBOIF**.

**Approximately 12 licensed PSP institutions** include most authorized Nicaraguan banks + Fintech companies.

## Fun facts

- **PSP + PSAV unified regulatory framework**: Comprehensive coverage of both traditional payment + virtual-asset services.
- **2023 regulation in force**: Recent regulatory establishment.
- **~12 institutions registered as PSPs**: Substantial fintech-ecosystem.
- **Indefinite license validity (revocable)**: Regulatory stability + accountability.
- **Comprehensive authorized services scope**: Digital wallets, transfers, mPOS, e-money, exchange, gateways.
- **BCN ongoing supervision**: Central-bank-coordinated oversight.
- **Most authorized Nicaraguan banks are PSP-licensed**: Bank-fintech integration.

## Comparison

| Feature | PSP (NI BCN framework) | EMI License (EU PSD2) | PSP (UK FCA) | PSP (CR SUGEF) | Fintech License (BR BCB) |
|---|---|---|---|---|---|
| Regulator | **BCN** | EBA + national | UK FCA | SUGEF | BCB |
| Scope | **PSP + PSAV unified** | EMI vs PI separate | PSR + EMR | EMI + Fintech | SCD/SEP/IP |
| Year established | **2023** | 2009 | 2013 | n/a | 2018 |
| Licensees | **~12 (NI)** | Thousands EU-wide | Hundreds UK | Multiple CR | Multiple BR |
| Virtual asset coverage | **Yes (PSAV)** | Separate MiCAR | Crypto-asset firms | Limited | Separate |

## Status

**Active, foundational NI fintech-regulatory framework** <sup>[1][1], [2][2]</sup>:
- **BCN regulator since 2023**.
- **PSP + PSAV unified framework**.
- **~12 licensed institutions**.
- **Comprehensive authorized services scope**.
- **BCN ongoing supervision**.

## Sources

[1]: https://consortiumlegal.com/en/2025/05/07/fintech-licenses-in-nicaragua/ "Fintech licenses in NI — Consortium Legal"
[2]: https://consortiumlegal.com/en/2022/05/17/new-regulation-for-financial-technology-providers-in-nicaragua/ "New NI fintech regulation — Consortium Legal"
[3]: https://blplegal.com/frequently-asked-questions-about-fintech-regulation-in-nicaragua/ "NI fintech regulation FAQ — BLP Legal"
[step]: https://www.step.org/industry-news/new-fintech-regulation-now-force-nicaragua "NI fintech regulation in force — STEP"
[lexology]: https://www.lexology.com/library/detail.aspx?g=f8c61d79-156e-4b1b-a3fc-2e831ac9edf8 "NI fintech licenses — Lexology"

- [1] [Fintech licenses in NI — Consortium Legal][1]
- [2] [New NI fintech regulation — Consortium Legal][2]
- [3] [NI fintech regulation FAQ — BLP Legal][3]
- [step] [NI fintech regulation in force — STEP][step]
- <sup>[Nicaragua report](https://docs.barcoder.ai/docs/payments/NI)</sup> `reports/countries/NI-nicaragua.md`

## Deployments

Found in the following country reports (grep across `reports/countries/`):

- **NI** — [NI-nicaragua.md](https://docs.barcoder.ai/docs/payments/NI)