Belvo receives authorisation to develop payment initiation solutions in Mexico

Thursday 30 June 2022 10:08 CET | News

Belvo, a Latin America-based Open Finance API platform, has received authorisation from the National Banking and Securities Commission (CNBV) for the organisation and operation of an Institución de Fondos de Pago Electrónico (IFPE).

Through this licence, Belvo will be able to offer its clients in Mexico services to process and issue bank-to-bank payments through its API platform. The company has been working on this project for more than a year and has now received regulatory approval.

The use cases that Belvo plans to develop include different payment solutions that are in high demand in the market. All in compliance with the provisions of the Mexican Fintech Law and in line with the plan approved by the regulator.

Belvo is in the process of receiving a similar authorisation in Brazil, called ITP, which would allow the entity to operate as an initiator of payment transactions within the Open Banking framework regulated in the country.

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Keywords: regulation, Open Finance, API, banks, banking license
Categories: Banking & Fintech
Companies: Belvo
Countries: Mexico
This article is part of category

Banking & Fintech


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