Resolution modifying the General Provisions applicable to savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms under the Savings and Credit Popular Law

DOF: 01/10/2019

RESOLUTION modifying the General Provisions applicable to savings and credit entities, integration organisms, community financial societies, and rural financial integration organisms, referred to in the Savings and Credit Popular Law.

A seal bearing the National Coat of Arms, which reads: United Mexican States.- Government of Mexico.-

TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.

The National Banking and Securities Commission, based on the provisions of Article 45 Bis, eighth paragraph of the Savings and Credit Popular Law, as well as Articles 4, fractions XXXVI and XXXVIII, and 16, fraction I of the Law of the National Banking and Securities Commission, and

CONSIDERING

That, in order to promote financial inclusion in the country, as well as to boost technological innovation, it is convenient to modify the regulatory framework applicable to popular financial societies with an operations level I to IV with the purpose of allowing them to provide their customers with means to carry out electronic transfers with more flexible standards, while continuing to protect their resources and the security of their information, has resolved to issue the following:

RESOLUTION MODIFYING THE GENERAL PROVISIONS APPLICABLE TO SAVINGS AND CREDIT ENTITIES, INTEGRATION ORGANISMS, COMMUNITY FINANCIAL SOCIETIES AND RURAL FINANCIAL INTEGRATION ORGANISMS, REFERRED TO IN THE SAVINGS AND CREDIT POPULAR LAW

SOLE ARTICLE.- Articles 1, fractions XXXV, subsection c), LXII, LXIII, LXXX and LXXXI; 265 Bis 1, fraction III, first paragraph; 265 Bis 2, fourth paragraph; 265 Bis 4, fraction III, first paragraph and 265 Bis 7, fraction I, first paragraph are REFORMED; Article 265 Bis 8, seventh paragraph is ADDED, rearranging the remaining paragraphs in their order and as appropriate, and Article 265 Bis 1, fraction III, subsections a) and b) and second paragraph are DEROGATED, of the "General Provisions applicable to savings and credit entities, integration organisms, community financial societies and rural financial integration organisms, referred to in the Savings and Credit Popular Law", published in the Official Gazette of the Federation on December 18, 2006, and modified by resolutions published in the aforementioned Official Gazette on January 18 and August 11, 2008; December 16, 2010; December 18, 2012; January 12, February 6, April 2, September 22 and October 29, 2015; January 7, February 2, April 22, July 11, September 28 and December 27, 2016; March 10, May 31, July 24 and October 6, 2017; January 23 and 26, April 26, October 16 and November 15, 2018, to read as follows:

" Article 1.-

. . .

I. to XXXIV.

. . .

XXXV.

. . .

a) and b)

. . .

c)

Information contained, received or generated in media or devices with respect to which the User has possession, such as devices or mechanisms generating Dynamic One-Time Passwords and Credit or debit cards with Integrated Circuit, which have properties that prevent the duplication of said media, devices or the information they contain or generate.

d)

. . .

XXXVI. to LXI.

. . .

LXII.

Mobile Advanced Services, to the Electronic Service, in which the Device of Access is associated with unique correspondence to the User Identifier, through any unique information or data of the Device of Access itself.

LXIII.

Mobile Basic Services or Mobile Payment, to the Electronic Service in which the Access Device is associated with unique correspondence to the User Identifier, through any unique information or data of the Access Device itself, the entity must obtain the information or data automatically from the corresponding Access Device and only balance inquiries may be made regarding the accounts or cards associated with the service, Monetary Operations limited to transfers of monetary funds and payments for goods or services, in both cases, up to the equivalent in national currency to the Monetary Operations of Medium Quantity per User, charged to the cards or bank accounts they have associated.

LXIV. to LXXIX.

. . .

LXXX.

Mobile Phone, to Access Devices to telephone services, which have assigned a unique identification number and use cellular communication.

LXXXI.

Point of Sale Terminal, to Access Devices to Electronic Services, such as computing terminals, Mobile Phones and computer programs, among others, operated by merchants or Users, as part of the services provided by acquirers or aggregators, according to said terms are defined in the General Provisions applicable to payment media networks, issued jointly by the Bank of Mexico and the National Banking and Securities Commission, or those that replace them, to instruct the payment of goods or services charged to a card or account, or for the carrying out of the operations referred to in Article 265 Bis 36 of these provisions.

LXXXII. to LXXXVI.

. . . "

" Article 265 Bis 1 .-

. . .

I. and II.

. . .

III.

Regarding the services mentioned in subsections a) and b) of the previous fraction I, the contracting may be carried out in accordance with the previous fractions I and II, or, through telephone operators of the Popular Financial Society itself, subject to the provisions of fraction I of Article 265 Bis 4 of these provisions. In all cases, for the Mobile Payment service, the Popular Financial Society must authenticate the Users using procedures that ensure that the User themselves is the one requesting the service.

a)

Derogated.

b)

Derogated.

Second paragraph.- Derogated.

IV.

. . . "

" Article 265 Bis 2.-

. . .

I. and II.

. . .

. . .

. . .

Regarding operations carried out through Point of Sale Terminals and Automated Teller Machines, the User Identifier may be the number of the credit or debit card with which access to Electronic Services is obtained. "

" Article 265 Bis 4 .-

. . .

I. and II.

. . .

III.

Authentication Factor Category 3: It is composed of information contained, received or generated by electronic media or devices, as well as that obtained by devices generating Dynamic One-Time Passwords. Said media or devices must be provided by the Popular Financial Society to its Users and the information contained, received or generated by them must meet the following characteristics:

a) to d)

. . .

. . .

. . .

. . .

. . .

. . .

. . .

IV.

. . . "

" Article 265 Bis 7.-

. . .

I.

Transfers of monetary funds to Destination Accounts of third parties or other Popular Financial Societies, including the payment of credits and goods or services, as well as authorizations and instructions for direct debit payment of goods or services.

. . .

II. to IX. . . .

. . .

. . .

. . .

. . .

. . .

. . . "

" Article 265 Bis 8 .-

. . .

. . .

. . .

. . .

. . .

. . .

Regarding electronic payments through a scheme in which the payment is requested by the person who would be the recipient of the funds and the payer authorizes it from a mobile device, through an application that the Popular Financial Society makes available to its Users, with the objective of accessing the Internet Service and there is a third party that implements validation controls for the recipient of funds for the validation of the beneficiary Users' accounts, prior registration of the Destination Accounts is not required nor the minimum time period referred to in this Article when such operations are up to the equivalent to those of Medium Quantity. For operations with amounts greater than those of Medium Quantity, the minimum waiting period will not apply.

. . .

. . . "

TRANSITIONAL

SOLE.- This Resolution will enter into force the day following its publication in the Official Gazette of the Federation.

Respectfully

Mexico City, September 27, 2019.- The President of the National Banking and Securities Commission, Adalberto Palma Gómez.- Signature.

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