Official Letter Authorizing the Organization and Operation of Programas de Relacionamiento Medá, S.A.P.I. de C.V. as an Electronic Payment Fund Institution

DOF: 12/05/2022

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

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P112/ 2021.

Subject:

Authorization for the organization and operation of

an electronic payment fund institution to

be named Programas de Relacionamiento

Medá, S.A.P.I. de C.V., Electronic Payment Fund

Institution.

PROGRAMAS DE RELACIONAMIENTO MEDÁ, S.A.P.I. DE C.V.

Virreyes Tower Building, Pedregal Street 24, 24th Floor,

Molino del Rey Neighborhood, Postal Code 11040

Miguel Hidalgo, Mexico City.

TO:

MR. JAVIER GUALDO MORALES DE LEÓN GARCÍA

Legal Representative

With a written submission presented on September 24, 2019, Programas de Relacionamiento Medá, S.A.P.I. de C.V. (Medá 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 Programas de Relacionamiento Medá, S.A.P.I. de C.V., Electronic Payment Fund Institution, attaching the corresponding supporting information and documentation.

As background, it should be noted that this Commission issued a notice to Medá within the timeframe established in 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, Medá submitted various documents and information in order to respond to the aforementioned notice. Likewise, this authority requested Medá to provide various complementary documents and information in order to be in a position to address its authorization request, so that company attended to the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution timeframe and an extension for the compliance process, which were granted.

Regarding this matter, the Interinstitutional Committee in the session held on May 10, 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 Programas de Relacionamiento Medá, S.A.P.I. de C.V., Electronic Payment Fund 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 point of view, the requested authorization is procedent, so the following was adopted:

AGREEMENT

" FIFTH.- 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 Programas de Relacionamiento Medá, S.A.P.I. de C.V., Electronic Payment Fund 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 terms of the applicable provisions, as well as the exercise of the powers attributed to said Commission during the organization process of Programas de Relacionamiento Medá, S.A.P.I. de C.V., Electronic Payment Fund Institution, in which all conditions and requirements imposed by said Commission must be met.

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

BASES

FIRST.-

The name of the company will be Programas de Relacionamiento Medá, S.A.P.I. de C.V., Electronic Payment Fund Institution.

SECOND.-

It will have its corporate domicile in Mexico City.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its minimum initial social capital must be at least the equivalent in national currency to 500,000 Investment Units (UDI's).

FIFTH.-

Its corporate purpose will correspond to the performance of all activities in national currency contemplated in articles 22 and 25, fractions 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, 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 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, 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 terrorism financing, which by their nature are applicable.

In relation to the above, Medá must observe the terms and attend to the obligations contained in official letter P113/2021 dated May 13, 2021.

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

Respectfully,

Mexico City, May 13, 2021.- President, Juan Pablo Graf Noriega.- Signature.

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