Regulatory Alerts2022-06-29 | DOF 5656509Added · Updated
Authorization for the Organization and Operation of Belvo Pagos, S.A.P.I. de C.V., Electronic Payment Funds Institution
The National Banking and Securities Commission authorizes Belvo Technologies, S.A.P.I. de C.V. to organize and operate as an electronic payment funds institution named Belvo Pagos, S.A.P.I. de C.V. The authorization mandates a minimum fixed social capital of 32,000,000.00 Mexican pesos and requires the entity to commence operations within the statutory deadline to avoid revocation. The institution is subject to supervision by the Commission and the Bank of Mexico and must comply with all applicable financial technology regulations and anti-money laundering provisions.