Regulatory Alerts2019-10-01 | DOF 5573931Added
Resolution modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies
The National Banking and Securities Commission amends definitions in Article 1 regarding mobile advanced services, basic mobile payments, mobile phones, and point-of-sale terminals to align with electronic access devices. It modifies authentication requirements for mobile payment services under Articles 17 Bis 1 through 7 and updates Category 3 authentication factors in Article 17 Bis 4. Additionally, it adds a provision to Article 17 Bis 8 exempting specific electronic payments initiated via mobile applications from prior destination account registration and minimum waiting periods when transaction amounts do not exceed medium-quantity limits. These changes take effect the day after publication in the Official Gazette.