Regulatory Alerts2013-12-06 | Circular 3/2013Added
Circular 3/2013 on Clearing Houses for Mobile Device Transfer Transactions
The Bank of Mexico establishes the rules for the organization, operation, and authorization of clearing houses processing mobile device fund transfers. Applicants must submit detailed documentation regarding statutes, governance, financial viability, and internal norms to obtain indefinite, non-transferable authorization. Authorized entities are required to join the Interbank Electronic Payments System (SPEI), provide specific operational data to the regulator, and adhere to strict prohibitions against discriminatory fees, tied sales, and confidentiality breaches.