Office Memorandum granting authorization for the organization and operation of an electronic payment funds institution to be named Compropago, S.A. de C.V., Electronic Payment Funds Institution

DOF: 07/10/2022

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

In the margin a seal with the National Shield, stating: United Mexican States.- TREASURY.- Secretariat of Treasury and Public Credit.- National Banking and Securities Commission.- Presidency.- Office Memorandum No.: P474/ 2021.

Subject:

Authorization for the organization and operation of

an Electronic Payment Funds Institution to

be named Compropago, S.A. de C.V., Electronic Payment Funds Institution.

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

Pedregal 24, Floor 24, Torre Virreyes

Molino del Rey Neighborhood

Miguel Hidalgo Borough

Postal Code 11040, Mexico City.

ATTENTION:

Ms. AIKO FUJIMURA VALDEZ

Legal Representative

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

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

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

in the Law to Regulate Financial Technology Institutions, in order to address various

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

extension requested to this authority.

In relation to the above, Compropago sent various documentation and information in order to provide

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

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

authorization, therefore, that company attended 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 compliance which were granted.

On the matter, the Interinstitutional Committee in session held on December 13, 2021, based

on 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 by reason of the authorization request

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

S.A. de C.V., Electronic Payment Funds Institution, 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 Electronic Payment Funds Institution

to be named Compropago, S.A.

de C.V., Electronic Payment Funds Institution , 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

Compropago, S.A. de C.V., Electronic Payment Funds Institution, 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:

TERMS

FIRST.-

The name of the company shall be Compropago, S.A. de C.V., Electronic Payment Funds Institution.

SECOND.-

It shall have its corporate domicile in Monterrey, Nuevo León.

THIRD.-

Its duration shall be indefinite.

FOURTH.-

The amount of its authorized initial share capital shall be $600,000,000.00 (six hundred

million pesos 00/100 National Currency)

FIFTH.-

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

to Regulate Financial Technology Institutions and shall carry out the operations and the

provision of the services established in articles 22 and 25 sections I, III, IV, VII, IX,

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

SIXTH.-

The authorization referred to in this office memorandum 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

electronic payment funds 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, shall be subject, in what is not expressly indicated in this office memorandum,

to the Law to Regulate Financial Technology Institutions, to the rules and

general provisions applicable to Financial Technology Institutions

issued by the National Banking and Securities Commission, to the provisions that regarding

its operations issues the Bank of Mexico and to the provisions that jointly issued the National Banking and Securities Commission and 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 relating to operations with resources of

illicit origin and terrorism financing, which by their nature result

applicable.

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

contained in Office Memorandum No. P475/2021 dated December 23, 2021.

The present, is issued based on articles 16, sections I and XVII of the Law of the National Banking and Securities Commission and 12 and 41, section I of the Internal Regulations of the National Banking and Securities Commission.

Sincerely

Mexico City, December 23, 2021.- President, Dr. Jesús de la Fuente Rodríguez .- Initials/Signature.

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