With Spin de Oxxo, the number of fintech authorized by the CNBV rises to 41

There are 41 Financial Technology Institutions authorized to operate under the Law to Regulate Financial Technology Institutions (Ley Fintech), according to the latest edition of the Official Gazette of the Federation (DOF), I pay received the endorsement to operate as Institution of Electronic Payment Funds (IFPE), as reported yesterday by El Economista.

After submitting his application on September 25, 2019 before the National Baking and Stock Commission (CNBV), Spin de Oxxo received its definitive authorization through the company name Compropago.

“The foregoing agreement is adopted without prejudice to the other authorizations that must be obtained from the National Banking and Securities Commission due to the act described, in terms of the applicable provisions, as well as the exercise of the powers attributed to the Commission itself during the organization process of Compropago, SA de CV, Institution of Electronic Payment Funds, in which all the conditions and requirements imposed by the Commission itself must be met”, reads the official letter.

According to the latest quarterly report from the Mexican Economic Development (Femsa), Spin has 3.1 million users.

Our efforts in Digital have advanced in customer acquisition, surpassing 15 million users who are already part of our digital ecosystem, either through Spin by OXXO, OXXO Premia, or both”, the document reads.

During the year, the CNBV has published in the DOF a total of 18 official documents authorizing institutions to operate in accordance with the Law.

The fintech authorized to date are 41, of which 27 are Electronic Payment Fund Institutions (IFPE). In IFCs, the number of entities has remained at 14 since May.

The IFPEs that have authorization are:

1. NVIO Pagos
2. Trafalgar Digital
3. BRX Payments
4. Inguz Digital
5. BKBN
6. Your Digital Money
7. System of Transfers and Payments STP
8. ColtoMoney
9. Cuenca
10. mexpay
11. Lana
12. SDMX Superdigital
13. PRIMETIME
14. All Payments
15. Fintech on Demand
16. Free market
17. Intelligence in Finance
18. Honey
19. Liftoff
20. Belvo Payments
21. included
22. Pocketgroup
23. Sonect
24. Toka Fintech
25. E-Silver Services
26. Peibo Fintech
27. Spin

Meanwhile, the Collective Funding Institutions with the definitive guarantee are:

1. Fundary
2. Liquideo MX
3. BXL Fintech
4. Doopla
5. lender
6. M2Crowd
7. hundred bricks
8. Play Business
9. Crowd Up Mex
10. CrowdLink
11. Angels in Ark
12. Top Capital
13. Red Girasol
14. I lend you