Regulatory Alerts2024-02-27 | DOF 5718095Added
Official Letter Authorizing the Organization and Operation of Pago Confiado, S.A. de C.V., Electronic Payment Funds Institution
The National Banking and Securities Commission authorizes Pago Confiado, S.A. de C.V. to organize and operate as an Electronic Payment Funds Institution with an initial social capital of six million Mexican pesos. The entity must conduct its activities in accordance with the Law for the Regulation of Financial Technology Institutions and related general provisions, subjecting itself to supervision by the Commission and the Bank of Mexico. The authorization is intransmissible, and the institution must demonstrate compliance with the requirements of Article 40 of the Law at least thirty business days prior to commencing operations.