Resolution modifying the General Provisions applicable to the activities of Savings and Loan Cooperative Societies

DOF: 01/10/2019

RESOLUTION that modifies the General Provisions applicable to the activities of savings and loan cooperative societies

Aside from a seal with the National Coat of Arms, which says: 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 what is provided by article 31, fraction XI

of the Law to Regulate the Activities of Savings and Loan Cooperative Societies, as well as 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 savings and loan cooperative societies with the purpose that they can provide their users with means to carry out electronic transfers with more flexible rules, while continuing to protect their resources and the security of their information, has resolved to issue the following:

RESOLUTION THAT MODIFIES THE GENERAL PROVISIONS APPLICABLE TO THE ACTIVITIES OF SAVINGS AND LOAN COOPERATIVE SOCIETIES

UNIQUE.- The Articles 1, fractions XXXIV, subsection c), LXIII, LXIV, LXXVI and LXXVII; 17 Bis 1, fraction III, first paragraph; 17 Bis 2, fourth paragraph; 17 Bis 4, fraction III, first paragraph and 17 Bis 7, fraction I, first paragraph are REFORMED; Article 17 Bis 8, seventh paragraph is ADDED, renumbering the remaining paragraphs in their order and as appropriate, and Article 17 Bis 1, fraction III, subsections a) and b) and second paragraph are ABROGATED, of the "General Provisions applicable to the activities of savings and loan cooperative societies", published in the Official Gazette of the Federation on June 4, 2012, and modified through resolutions published in the aforementioned Official Gazette on January 9, 2014; January 7, 2016; April 4, July 24 and October 18, 2017; January 23, April 26, July 23 and November 15, 2018, to read as follows:

" Article 1.-

. . .

I. to XXXIII.

. . .

XXXIV.

. . .

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 generators of Dynamic One-Time Passwords and Credit or Debit Cards with Integrated Circuit, which have properties that prevent duplication of said media, devices or the information that they contain or generate.

d)

. . .

XXXV. to LXII.

. . .

LXIII.

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

LXIV.

Basic Mobile Services or Mobile Payment, to Electronic Service in which the Access Device is associated with unique correspondence to the User Identifier, through any unique information or data from the Access Device itself, the savings and loan cooperative society must obtain the information or data automatically from the corresponding Access Device and only balance inquiries may be made regarding 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 Medium Quantity Monetary Operations per User, charged to the cards or bank accounts that they have associated.

LXV. to LXXV.

. . .

LXXVI.

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

LXXVII.

Point of Sale Terminal, to Devices for accessing 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 the acquirers or aggregators, according to those terms are defined in the General Provisions applicable to payment instrument networks, issued jointly by the Bank of Mexico and the Commission, or those that replace them, to instruct the payment of goods or services charged to a card or account, or for the performance of the operations referred to in Article 17 Bis 36 of these provisions.

LXXVIII. to LXXXI.

. . . "

" Article 17 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 Society itself, subject to what is stated in fraction I of
Article 17 Bis 4 of these provisions. In all cases, for the Mobile Payment service, the
Society must authenticate Users using procedures that ensure that the User himself is the one requesting the service.

a)

Abrogated.

b)

Abrogated.

Second paragraph.- Abrogated.

IV.

. . . "

" Article 17 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 17 Bis 4.- . . .

I. and II.

. . .

III.

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

a) to d)

. . .

. . .

. . .

. . .

. . .

. . .

. . .

IV.

. . . "

" Article 17 Bis 7.-

. . .

I.

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

. . .

II. to IX.

. . .

. . .

. . .

. . .

. . .

. . . "

" Article 17 Bis 8 .- . . .

. . .

. . .

. . .

. . .

. . .

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

. . .

. . . "

TRANSITORY

UNIQUE.- 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.- Initialled.

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