Authorization for the Organization and Operation of NVIO Pagos Mexico, S.A.P.I. de C.V., Electronic Payment Fund Institution

DOF: 22/01/2020

OFFICE LETTER through which authorization is granted for the organization and operation of an electronic payment fund institution to be named NVIO Pagos Mexico, S

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of

Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Vice Presidency of

Regulation.- General Directorate of Specialized Authorizations.- Technical Vice Presidency.- Office No.: P022/2020.

Subject:

Authorization for the organization and

operation of an electronic payment fund

institution to be named NVIO

Pagos Mexico, S.A.P.I. de C.V., Institution

of Electronic Payment Funds.

NVIO PAGOS MEXICO, S.A.P.I. DE C.V.

" Torre Virreyes " Pedregal No. 24, Floor 24

Col. Molino del Rey, C.P. 11040

Miguel Hidalgo, Mexico City

TO:

MR. ALFONSO MONROY MENDOZA

Legal Representative

With writings presented on November 15 and December 5, 2019, NVIO Pagos Mexico,

S.A.P.I. de C.V. requested from the National Banking and Securities Commission (Commission) authorization to

organize and operate as an electronic payment fund institution to be named NVIO Pagos Mexico,

S.A.P.I. de C.V., Institution of Electronic Payment Funds, accompanying the same with the corresponding

supporting information and documentation.

Regarding this matter, the Interinstitutional Committee in the session held on December 18, 2019, with

basis in articles 11 and 35, in relation to articles 22 and 25 of the Law to Regulate Financial Technology Institutions and,

CONSIDERING

FIRST.- That the documentation and information presented in connection with the request for authorization

for the organization and operation of the electronic payment fund institution to be named NVIO Pagos

Mexico, S.A.P.I. de C.V., Institution of Electronic Payment Funds, meets the requirements provided for in

articles 22, in relation to article 39 of the Law to Regulate Financial Technology Institutions and in

articles 3, 4 and 6 of the General Provisions applicable to Financial Technology Institutions, as well as with

the rest of the regulation that corresponds to it by its nature;

SECOND.- That from the analysis of the documentation and information received, it was concluded that from the

legal, financial and operational point of view, it is appropriate to grant the requested authorization, therefore the

following was adopted:

AGREEMENT

" SOLE.- The members of the Interinstitutional Committee, with basis in articles 11 and 35, in relation

with articles 22 and 25 of the Law to Regulate Financial Technology Institutions, unanimously authorized

the organization and operation of an Electronic Payment Fund Institution to be named NVIO Pagos

Mexico, S.A.P.I. de C.V., Institution of Electronic Payment Funds, under the terms of the proposal

presented.

The foregoing agreement is adopted without prejudice to the other authorizations that, in connection with the act described,

must be obtained from the National Banking and Securities Commission, in terms of the applicable provisions,

as well as the exercise of the powers attributed to said Commission during the organization process of

NVIO Pagos Mexico, S.A.P.I. de C.V., Institution of Electronic Payment Funds, in which all

conditions and requirements applicable for the start of operations must be met. "

The entity whose organization and operation is authorized, will be subject to the following:

BASES

FIRST.-

The name of the company will be NVIO Pagos Mexico, S.A.P.I. de C.V., Institution of

Electronic Payment Funds.

SECOND.-

It will have its corporate domicile in Mexico City.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its paid-in social capital will be $3 ' 300,000.00 (Three million three hundred thousand

pesos 00/100 M.N.), represented by 3,300 ordinary Class " I " shares, without expression of

nominal value, representing the minimum fixed capital without right of withdrawal.

FIFTH.-

Its corporate purpose will correspond to the activities indicated in article 22 of the Law for

Regulating Financial Technology Institutions and will carry out the operations and the

provision of services established in article 25, sections I, II, III, IV, V, VII, VIII,

IX, X and XIII of the aforementioned Law to Regulate Financial Technology Institutions.

SIXTH.-

The authorization referred to in this office letter is, by its very nature,

non-transferable.

SEVENTH.-

The institution will be subject to the supervision of the National Banking and Securities Commission and

of the Bank of Mexico, in the exercise of their respective attributes, as well as,

of the other competent financial authorities in the terms that the laws provide.

EIGHTH.-

The services consisting of the issuance, administration, redemption and transmission of funds

of electronic payment that the institution provides by virtue of this authorization, as well as

the other operations it carries out, as well as its organization and operation in

general, will be subject, in what is not expressly stated in this office letter, to the Law for

Regulating Financial Technology Institutions, to the rules and provisions of general

character applicable to Financial Technology Institutions issued by the Commission

National Banking and Securities, to the provisions regarding its operations

issued by the Bank of Mexico and to the other norms and provisions in force and those that are

issued in the future by any competent authority, including those related to

operations with resources of illicit origin and terrorism financing, which by their

nature are applicable.

In view of what is established in article 69, section VI of the Law to Regulate Financial Technology

Institutions, this authorization may be revoked if NVIO Pagos Mexico, S.A.P.I. de C.V., Institution of

Electronic Payment Funds does not commence operations within a period of six months counted from the notification

of this authorization.

For the purposes of the foregoing, NVIO Pagos Mexico, S.A.P.I. de C.V., Institution of Electronic Payment

Funds must certify to this Commission at least thirty business days in advance of the start of its

operations, compliance with the requirements established in article 40 of the Law to Regulate

Financial Technology Institutions.

On the other hand, this Commission, with basis in article 45 of the Law to Regulate Financial Technology

Institutions, in relation to article 9 of the General Provisions applicable to Financial

Technology Institutions and complementarily to the Agreement adopted by the Interinstitutional Committee

under the terms stated above, authorizes NVIO Pagos Mexico, S.A.P.I. de C.V., Institution

of Electronic Payment Funds, to receive or deliver amounts of cash money to its clients, in the

cases and with the limits established in the aforementioned General Provisions applicable to Financial

Technology Institutions.

Finally, in a separate office letter, this Commission will make known to said company, the diverse

documentation and information that NVIO Pagos Mexico, S.A.P.I. de C.V., Institution of Electronic Payment

Funds must certify to this authority in accordance with what is established in article 40 of the Law

for Regulating Financial Technology Institutions.

This is issued with basis in articles 16, sections I and XVII of the Law of the National Banking and Securities

Commission and 12 and 41, sections I and III of the Internal Regulations of the National Banking and Securities

Commission.

Respectfully.

Mexico City, January 10, 2020. - The President, Adalberto Palma Gómez.- Rubric.

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