Official Letter Authorizing the Organization and Operation of Fintech on Demand, S.A. de C.V., Electronic Payment Funds Institution

DOF: 12/10/2021

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment funds institution to be named Fintech on Demand, S.A. de C.V., Electronic Payment Funds Institution.

A seal with the National Emblem appears on the margin, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P080/ 2021.

Subject:

Authorization for the organization and operation

of an electronic payment funds institution to be named FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution.

OCSI SOLUCIONES, S.A. DE C.V.
Paseo María Elena Street No. 1145,
Valle del Mirador Neighborhood, Postal Code 66260, Monterrey, Nuevo León.

TO:

MR. ÓSCAR GERARDO RAMOS PEART
Legal Representative

With a written submission presented on September 25, 2019, OCSI SOLUCIONES, S.A. de C.V. requested authorization from the National Banking and Securities Commission (the Commission) for the organization and operation of an electronic payment funds institution to be named FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution, attaching the corresponding supporting information and documentation.

As background, it should be noted that this Commission advised OCSI SOLUCIONES, S.A. de C.V. within the timeframe established in the Law for the Regulation of Financial Technology Institutions, so that it would address various observations and recommendations regarding its authorization request, granting the extension requested from this authority for that purpose.

In relation to the above, OCSI SOLUCIONES, S.A. de C.V. submitted various documents and information in order to respond to the aforementioned advice. Likewise, this authority requested OCSI SOLUCIONES, S.A. de C.V. to provide various complementary documents and information in order to be in a position to address its authorization request, so that company complied with the request for complementary information and sent updated documentation and information regarding its file.

The company requested an extension to the resolution deadline granted to it.

Regarding this matter, the Interinstitutional Committee in a session held on April 13, 2021, based on articles 11 and 35, in relation to articles 22 and 25 of the Law for the Regulation of Financial Technology Institutions, and

CONSIDERING

FIRST.- That the documentation and information presented in connection with the authorization request for the organization and operation of the Electronic Payment Funds Institution to be named FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution, meets the requirements provided for in article 22, in relation to article 39 of the Law for the Regulation of 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 a legal, financial and operational standpoint, the requested authorization is appropriate, so the following was adopted:

AGREEMENT

"SEVENTH.

The members of the Interinstitutional Committee, based on articles 11 and 35, in relation to article 22 of the Law for the Regulation of Financial Technology Institutions, unanimously approve the authorization for the organization and operation of an Electronic Payment Funds Institution to be named FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution, under the terms of the proposal presented to the Committee. "

The aforementioned agreement is adopted without prejudice to the other authorizations that, in connection with the act described, must be obtained from the National Banking and Securities Commission, in accordance with the applicable provisions, as well as the exercise of the powers attributed to said Commission during the organization process of FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution, in which all conditions and requirements imposed by said Commission must be fulfilled.

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

BASES

FIRST.-

The name of the company will be FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution.

SECOND.-

It will have its corporate domicile in San Pedro Garza García, Nuevo León.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its initial social capital will be $11,000,000.00 (eleven million pesos 00/100 M.N.).

FIFTH.-

Its corporate purpose will correspond to the activities indicated in article 22 of the Law for the Regulation of Financial Technology Institutions and it will carry out the operations and provision of services established in article 25, sections I, III, IV, IX, X and XIII of the aforementioned Law for the Regulation of Financial Technology Institutions.

SIXTH.-

The authorization referred to in this official letter is, by its very nature, non-transferable.

SEVENTH.-

The institution will be subject to the supervision of the National Banking and Securities Commission and the Bank of Mexico, in the exercise of their respective attributes, as well as, of the other competent financial authorities in the terms established by law.

EIGHTH.-

The services consisting of the issuance, administration, redemption and transmission of electronic payment funds, which 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, will be subject, in what is not expressly stated in this official letter, to the Law for the Regulation of 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 regarding its operations issued by the Bank of Mexico and to the other current norms and provisions and those that are issued in the future by any competent authority, including those related to operations with resources of illicit origin and financing of terrorism, which by their nature are applicable.

In relation to the foregoing, FINTECH ON DEMAND, S.A. de C.V., Electronic Payment Funds Institution must observe the terms and comply with the obligations contained in Official Letter No. P081/2021 dated April 15 of the current year.

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

Respectfully,

Mexico City, April 15, 2021. - President, Juan Pablo Graf Noriega. - Signature.

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