Regulatory Alerts2023-12-06 | DOF 5710552Added
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
This document grants authorization for the organization and operation of Pagaphone Smartpay, S.A. de C.V. as an Electronic Payment Funds Institution with an indefinite duration and domicile in Mexico City. The entity is required to maintain an initial share capital of $22,500,000.00 MXN and conduct activities in national currency as outlined in the Law to Regulate Financial Technology Institutions. The institution is subject to supervision by the National Banking and Securities Commission and the Bank of Mexico, and must comply with applicable regulations regarding electronic payment funds and anti-money laundering provisions.
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