Office letter whereby authorization is granted for the organization and operation of an electronic payment funds institution to be named Pagaphone Smartpay, S.A. de C.V., Electronic Payment Funds Institution — SHCP — MX

Official Gazette of the Federation: 06/12/2023

OFFICE LETTER whereby authorization is granted for the organization and operation of an electronic payment funds institution to be named Pagaphone Smartpay, S

In the margin a seal with the National Shield, stating: United Mexican States.- FINANCE.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Office Letter No.: P183/ 2021 .

Subject :

Authorization for the organization and operation of

an electronic payment funds institution to

be named Pagaphone Smartpay, S.A. de C.V.,

Electronic Payment Funds Institution.

PAGAPHONE SMARTPAY, S.A. DE C.V.

Oaxaca Avenue No.32, interior 201

Roma Norte Neighborhood, Postal Code 06700

Cuauhtémoc, Mexico City.

ATTENTION:

Citizen ULISES TÉLLEZ RODRÍGUEZ

Legal Representative

With a document presented on September 25, 2019, Pagaphone Smartpay, S.A. de C.V.

(Pagaphone or the

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

operate as an Electronic Payment Funds Institution to be named Pagaphone Smartpay, S.A. de

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

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

the Law to Regulate Financial Technology Institutions, in order that it attend to various observations

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

this authority.

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

response to the prevention referred to above. Likewise, this authority required from Pagaphone various

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

authorization, so that, 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 response which were granted.

On the matter, the Interinstitutional Committee in session held on June 21, 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 authorization request

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

Smartpay, S.A. de C.V., Electronic Payment Funds Institution, complies with the requirements provided

in the

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

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

AGREEMENT

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

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

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

be named Pagaphone Smartpay, S.A. de C.V., Electronic Payment Funds Institution, in the terms

of the proposal presented to the Committee. " .

The above agreement is adopted without prejudice to the other authorizations that by reason of 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 the Commission itself during the organization process of

Pagaphone Smartpay, S.A. de C.V., Electronic Payment Funds Institution, in which all conditions and requirements that the Commission itself imposes on it shall be met.

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

CONDITIONS

FIRST.-

The name of the company shall be Pagaphone Smartpay, S.A. de C.V., Institution of

Electronic Payment Funds.

SECOND.-

It shall have its social domicile in Mexico City.

THIRD.-

Its duration shall be indefinite.

FOURTH.-

The amount of its initial share capital shall be $22,500,000.00 (twenty-two million five hundred

thousand pesos 00/100 M.N.).

FIFTH.-

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

contemplated in articles 22 and 25, sections I, II, III, IV, 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 shall 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, shall 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 terrorist financing, which by its

nature result applicable.

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

contained in office letter P184/2021 dated June 24, 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 Commission National Banking and Securities.

Sincerely

Mexico City, on June 24, 2021. - President , Juan Pablo Graf Noriega .- Signature.

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BY DATE

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Exchange Rate and Rates as of 26/08/2026

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6.50%

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