Official Letter Authorizing the Organization and Operation of Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution

DOF: 30/09/2021

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment fund institution to be named Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution.

A seal bearing the National Coat of Arms 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.: P063/2021.

Subject:

Authorization for the organization and operation of

an electronic payment fund institution to

be named Mexpago Transacciones, S.A.P.I. de

C.V., Electronic Payment Fund Institution.

MEXPAGO TRANSACCIONES, S.A. DE C.V.

Av. Pedregal No. 24, floor 10

Molino del Rey Neighborhood, Postal Code 11040

Miguel Hidalgo, Mexico City

TO:

MR. LUIS CASTILLEJOS ORDAZ

Legal Representative

With a written submission presented on September 20, 2019, Mexpago Transacciones, S.A. de C.V. (Mexpago or the company) requested authorization from the National Banking and Securities Commission (Commission) to organize and operate as an electronic payment fund institution to be named Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution, accompanying the request with the corresponding supporting information and documentation.

As background, it should be noted that this Commission issued a notice to Mexpago within the timeframe established by the Law for the Regulation of Financial Technology Institutions, in order for it to address various observations and recommendations regarding its authorization request, granting the extension requested from this authority.

In relation to the above, Mexpago submitted various documents and information to respond to the aforementioned notice. Likewise, this authority requested Mexpago to provide various complementary documents and information to be in a position to address its authorization request, so the company complied with the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution deadline and an extension for the processing, which were granted.

Regarding this matter, the Interinstitutional Committee in the session held on March 26, 2021, based on articles 11 and 35, in relation to article 22 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 fund institution to be named Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution, complies with the requirements set forth 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, as well as with the rest of the regulation applicable by its nature.

SECOND.- That from the analysis of the received documentation and information, it was concluded that from a legal, financial, and operational standpoint, the requested authorization is appropriate, so the following was adopted:

AGREEMENT

" NINTH.- 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 Fund Institution to be named Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution, under the terms of the proposal presented. "

The aforementioned agreement is adopted without prejudice to the other authorizations that must be obtained from the National Banking and Securities Commission in connection with the described act, in accordance with applicable provisions, as well as the exercise of the powers attributed to said Commission during the organization process of Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund 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 shall be Mexpago Transacciones, S.A.P.I. de C.V., Electronic Payment Fund Institution.

SECOND.-

It shall have its corporate domicile in Mexico City.

THIRD.-

Its duration shall be indefinite.

FOURTH.-

The amount of its initial social capital shall be $9,663,000.00 (nine million six hundred sixty-three thousand pesos 00/100 M.N.).

FIFTH.-

Its corporate purpose shall correspond to the performance of all activities in national currency contemplated in articles 22 and 25, sections I, II, III, IV, V, VII, VIII, IX, X and XIII of the Law for the Regulation of Financial Technology Institutions.

SIXTH.-

The authorization referred to in this official letter is, by its very nature, intransmissible.

SEVENTH.-

The institution shall 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 accordance with what the laws provide.

EIGHTH.-

The services consisting of the issuance, administration, redemption, and transmission of payment funds that the institution provides by virtue of this authorization, as well as the other operations it carries out, just like its organization and operation in general, shall 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 may be issued in the future by any competent authority, including those related to operations with resources of illicit origin and terrorism financing, which by their nature are applicable.

In relation to the foregoing, MEXPAGO shall observe the terms and comply with the obligations contained in Official Letter P064/2021 dated March 29, 2021.

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

Respectfully,

Mexico City, March 29, 2021. - President, Juan Pablo Graf Noriega.- Signature.

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