Russia’s Promsvyazbank Developing US Dollar ATM Network In Nicaragua

Russia’s Promsvyazbank (PSB) has begun developing a Russian payment infrastructure in Nicaragua and will develop an ATM network in the country, the bank has stated. PSB has installed its first ATM in the Nicaraguan capital, Managua, at a branch of Credicoop R.L. bank. It provides customers with access to cash operations in the national currency, the Cordoba, as well as in U.S. dollars.

The bank said “The deployment of Russian payment infrastructure in Nicaragua is an important step in developing international cooperation in the two countries’ financial, economic, tourism and social spheres. With a long-standing successful history of economic, trade and humanitarian ties, Russia and Nicaragua are strengthening their cooperation, actively promoting the expansion of joint investment and business projects, the development of tourism and the growth of foreign trade turnover.”

Nicaragua’s special representative for developing relations with Russia, Laureano Ortega Murillo, has said that Nicaragua plans to expand its ATM network to accept cards from Russia’s national Mir payment system, and may also begin issuing Mir cards in the future.