Official Letter Granting Authorization for the Organization and Operation of Sistema de Transferencias y Pagos STP, S.A. de C.V., Electronic Payment Funds Institution

DOF: 29/04/2021

OFFICIAL LETTER granting authorization for the organization and operation of an electronic payment funds institution to be named Sistema de Transferencias y Pagos STP, S.A. de C.V., Electronic Payment Funds Institution.

A seal with the National Coat of Arms appears at the margin, stating: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P086/ 2021.

Subject:

Authorization for the organization and operation

of an electronic payment funds institution

to be named Sistema de Transferencias y

Pagos STP, S.A. de C.V., Electronic Payment

Funds Institution.

SISTEMA DE TRANSFERENCIAS Y PAGOS STP,

S.A. DE C.V., S.O.F.O.M. E.N.R.

Insurgentes Sur No. 1425, floor 10,

Colonia Insurgentes Mixcoac, C.P. 03920,

Benito Juárez, Mexico City.

TO:

MR. JOSÉ REFUGIO GUTIÉRREZ BURCIAGA

Legal Representative

With writings presented on September 20 and 24, 2019, Sistema de Transferencias y Pagos STP, S.A. de C.V., S.O.F.O.M., E.N.R. (STP) requested from the National Banking and Securities Commission (Commission) authorization for the organization and operation of an electronic payment funds institution to be named Sistema de Transferencias y Pagos STP, S.A. de C.V., Electronic Payment Funds Institution, attaching the corresponding supporting information and documentation.

As a background, it should be noted that this Commission warned STP within the term established in the Law for Regulating Financial Technology Institutions, in order for it to address various observations and recommendations regarding its authorization request.

Regarding the above, STP submitted various documents and information to respond to the aforementioned warning. Likewise, this authority required STP to provide various complementary documents and information 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 term, which was granted.

On this matter, the Inter-institutional Committee, in a session held on April 20, 2021, based on Articles 11 and 35, in relation to Articles 22 and 25 of the Law for Regulating 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 Sistema de Transferencias y Pagos STP, 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 Regulating 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 the legal, financial and operational point of view, the requested authorization is appropriate, so the following was adopted:

AGREEMENT

" FIRST. - The members of the Inter-institutional Committee, based on Articles 11 and 35, in relation to Article 22 of the Law for Regulating Financial Technology Institutions, unanimously approve the authorization for the organization and operation of an Electronic Payment Funds Institution to be named Sistema de Transferencias y Pagos STP, S.A. de C.V., Electronic Payment Funds Institution, under the terms of the proposal presented to the Committee. "

The above 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 Sistema de Transferencias y Pagos STP, 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 Sistema de Transferencias y Pagos STP, S.A. de C.V., Electronic Payment Funds Institution.

SECOND.-

It will have its social domicile in Mexico City.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its social capital will be $12,344,526.00 (twelve million three hundred forty-four thousand five hundred twenty-six pesos 00/100 M.N.).

FIFTH.-

Its corporate purpose will correspond to the activities indicated in Article 22 of the Law for Regulating Financial Technology Institutions and will carry out the operations and provision of services established in Article 25, fractions IX, X and XIII of the aforementioned Law for Regulating 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 powers, as well as 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 Regulating 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.

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, April 20, 2021. - The President, Juan Pablo Graf Noriega.- Signature.

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