Office Letter Granting Authorization for the Organization and Operation of an Electronic Payment Funds Institution Named BEYAPSI, S.A.P.I. de C.V., Electronic Payment Funds Institution

DOF: 06/12/2023

OFFICE LETTER granting authorization for the organization and operation of an electronic payment funds institution to be named BEYAPSI, S

In the margin a seal with the National Shield, which says: United Mexican States.- TREASURY.- Secretariat of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Office Letter No.: P190/ 2021.

Subject :

Authorization for the organization and operation of

an electronic payment funds institution to

be named BEYAPSI, S.A.P.I. de C.V., Institution

of Electronic Payment Funds .

BEYAPSI, S.A.P.I. DE C.V.

Colonias No.315,

Americana Neighborhood, P.C. 44160

Guadalajara, Jalisco.

ATTENTION:

Mr. ALEJANDRO RUIZ PONCE

Legal Representative

With document presented on September 25, 2019, BEYAPSI, S.A.P.I. de C.V.

(Beyapsi or the company)

requested from the National Banking and Securities Commission (Commission) authorization to organize and operate as

an Institution of Electronic Payment Funds to be named BEYAPSI, S.A.P.I. de C.V., Institution of

Electronic Payment Funds, attaching thereto the corresponding supporting information and documentation.

As a background, it should be noted that this Commission prevented Beyapsi within the established period in the

Law to Regulate Financial Technology Institutions, so that it would attend to various observations and

recommendations in relation to its authorization request, granting it the requested extension to

this authority.

In relation to the above, Beyapsi sent various documentation and information in order to give

response to the aforementioned prevention. Likewise, this authority required from Beyapsi various

complementary documentation and information in order to be in conditions to attend to its request for

authorization, therefore, that company attended to the request for complementary information and sent

updated documentation and information in relation to its file. The company requested an extension

to the resolution period and an extension for the proceeding which were granted.

On the matter, the Interinstitutional Committee in session held on June 28, 2021, based

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

CONSIDERING

FIRST.- That the documentation and information presented by reason of the request for authorization

for the organization and operation of the electronic payment funds institution to be named BEYAPSI,

S.A.P.I. de C.V., Institution of Electronic Payment Funds, complies with the requirements provided in article

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

articles 3, 4 and 6 of the General Provisions applicable to Financial Technology Institutions.

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

of view legal, financial and operational it is appropriate to grant the requested authorization, therefore the following was adopted:

AGREEMENT

" FIRST.- The members of the Interinstitutional Committee, based on articles 11 and 35, in

relation to article 22 of the Law to Regulate Financial Technology Institutions, approve by

unanimity the authorization for the organization and operation of an Institution of Electronic Payment Funds

to be named BEYAPSI, S.A.P.I. de C.V., Institution of Electronic Payment Funds, in the terms of the

proposal presented to the Committee. " .

The previous agreement is adopted without prejudice to the other authorizations that by reason of the described act

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 the Commission itself during the organization process of

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

the conditions and requirements that the Commission itself imposes on it must be fulfilled.

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

CONDITIONS

FIRST.-

The name of the company will be BEYAPSI, S.A.P.I. de C.V., Institution of Electronic Payment

Funds.

SECOND.-

It will have its corporate domicile in Guadalajara, Jalisco.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its initial share capital will be $7 ' 700,000.00 (seven million seven hundred thousand

pesos 00/100 M.N.).

FIFTH.-

Its corporate purpose will correspond to the realization of all activities in national currency

contemplated in articles 22 and 25, sections I, IV, V, VII, VIII, IX, X and XIII of the Law to

Regulate Financial Technology Institutions.

SIXTH.-

The authorization referred to in this office letter is, by its own 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 that it carries out, as well as its organization and operation in

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

Regulate Financial Technology Institutions, to the rules and general provisions applicable to Financial Technology Institutions issued by the Commission

National Banking and Securities, to the provisions that regarding its operations

issues 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 relative to

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

nature result applicable.

In relation to the above exposed, Beyapsi must observe the terms and attend to the obligations

contained in office letter P191/2021 dated June 30, 2021.

The present, is issued based on articles 16, sections I and XVII of the Law of the Commission

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

and Securities.

Respectfully

Mexico City, June 30, 2021. - President , Juan Pablo Graf Noriega .- Signature.

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