Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the CNBV authorisation, including banking and payment rails.
Get a payment license in Mexico.
Latin America's second-largest economy licenses e-money through its Fintech Law: an Institución de Fondos de Pago Electrónico authorised by the CNBV with the agreement of the Interinstitutional Committee, 500,000 or 700,000 UDIs of capital, client funds segregated by statute - and a market of 130 million people, USD 60 billion a year in inbound remittances and a nearshoring boom on the US border.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Mexico in brief
One Fintech Law, one licence for e-money, capital counted in UDIs.
Mexico wrote its rules in a single statute in March 2018: the Ley para Regular las Instituciones de Tecnología Financiera, the Fintech Law. Articles 22 and 23 reserve the issuance, administration, redemption and transmission of electronic payment funds to an Institución de Fondos de Pago Electrónico, an IFPE. Article 35 gives the authorisation to the CNBV with the prior agreement of the Interinstitutional Committee - two seats each for the Finance Ministry, Banco de México and the CNBV. Article 36 wants a sociedad anónima with its domicile in Mexico and the minimum capital set by the CNBV's general provisions; Articles 6 to 8 of those provisions set it at 500,000 UDIs for an institution working in pesos alone and 700,000 UDIs for one that also handles foreign currency, virtual assets or clearing, paid up by the last business day of the year at the UDI value of the previous 31 December. At 8.665 pesos to the UDI, that is about MXN 4.33 million and MXN 6.07 million for 2026.
The law is specific about money. Article 46 keeps client funds segregated from the institution's own, identified client by client and held at authorised financial institutions or in repos; Article 29 forbids paying interest on them; Articles 26 and 30 open foreign currency and virtual assets only with Banco de México's authorisation; Article 38 publishes every authorisation in the Diario Oficial; Article 40 has the CNBV verify capital and controls before the first transaction. What the licence opens is 130 million people, more than USD 60 billion a year in inbound remittances, SPEI and Banxico's instant rails, and the supply chains moving to the US border. Tax is 30% corporate plus the 10% statutory profit share, with 16% VAT. The Committee route is thorough - plan on a year or more from filing - and the file has to read well to three institutions at once. We build it that way from our Americas desk, in Spanish.
The Fintech Law (2018) reserves e-money to the IFPE (Arts. 22-23), authorised by the CNBV with the Interinstitutional Committee (Art. 35). Capital 500,000 UDIs, 700,000 with FX/crypto/clearing (CNBV provisions Arts. 6-8) - about MXN 4.33M / 6.07M in 2026. Client funds segregated, no interest (Arts. 46, 29).
130 million people, USD 60bn+ remittances, SPEI and nearshoring. 30% tax + 10% PTU, VAT 16%. Twelve to eighteen months realistic. We build from our Americas desk.
The two routes
IFPE under the Fintech Law - or a money-transmitter registration.
Two doors, two depths: the IFPE authorisation for wallets, accounts and e-money at full CNBV supervision, and the transmisor de dinero registration for remittance corridors on a lighter footing. We fix the route first, then build once.
IFPE for e-money - transmitter registration for remittances.
01 - IFPE
Institución de Fondos de Pago Electrónico
The Fintech Law licence for issuing, holding and moving electronic payment funds - wallets, prepaid accounts, transfers and payments - authorised by the CNBV with the Interinstitutional Committee, 500,000 UDIs of capital in pesos-only mode, 700,000 with foreign currency, virtual assets or clearing.
The Fintech Law licence for issuing, holding and moving electronic payment funds - wallets, prepaid accounts, transfers and payments - authorised by the CNBV with the Interinstitutional Committee, 500,000 UDIs of capital in pesos-only mode, 700,000 with foreign currency, virtual assets or clearing.
- ✓Issuance, administration, redemption and transmission of e-funds
- ✓Capital 500,000 UDIs · 700,000 with FX/crypto/clearing
- ✓≈ MXN 4.33M / 6.07M at the 2026 UDI value
- ✓Client funds segregated under Article 46
- ✓Authorisation published in the Diario Oficial
- ✓Pre-launch verification under Article 40
02 - MONEY TRANSMITTER
Remittances - CNBV registrationTransmisor de dinero
The registration route for remittance and transfer businesses that do not hold client balances - a lighter file under the auxiliary-activities law, registered with the CNBV and supervised for anti-money-laundering, without the IFPE's capital or Committee.
Transmisor de dinero: registration for transfers without stored balances; AML supervision; upgrade path to the IFPE.
- ✓Money transfers and remittance payouts
- ✓Registration rather than licence
- ✓No stored balances for clients
- ✓AML supervision by the CNBV
- ✓Corridor partners and agents
- ✓Upgrade path to the IFPE later
Costs and timelines are confirmed for your case before any work begins. Capital sits in Articles 6 to 8 of the CNBV provisions in UDIs; the peso figures follow the UDI published in the Diario Oficial each year. Substance, the file and any Banco de México authorisations are itemised in your quote.
Why Mexico
A written law, a USD 60 billion corridor and a border that moved.
Mexico is not a passport jurisdiction - it is a destination market with a statute that says exactly what a licensee may do.
✓
A statute, not a circular
The Fintech Law fixes what an IFPE is, who authorises it, how client money is held and what it may not do - the rules are in a law you can read, not in a regulator's habits.The Fintech Law says what an IFPE is.
✓
Capital you can convert
500,000 or 700,000 UDIs, paid at the UDI value of the previous 31 December - about MXN 4.33 or 6.07 million in 2026 - a capital bar far below a bank's for a licence that holds client balances.≈ MXN 4.33M / 6.07M.
✓
The remittance corridor
More than USD 60 billion a year flows into Mexico from the United States - the largest single corridor in the Western Hemisphere, and the reason wallets and payout networks are licensed here.The hemisphere's largest.
✓
130 million people
Latin America's second economy, a young population and a state pushing digital payments through SPEI, CoDi and DiMo - the demand a licence serves is large and still growing.SPEI, CoDi, DiMo.
✓
Nearshoring
Supply chains relocating to the border bring payroll, supplier and cross-border flows - B2B payment businesses license here to sit where the money moves.Payroll and supplier flows.
✓
Segregation by law
Article 46 keeps client funds apart, identified per client and deposited at authorised institutions - a protection investors and enterprise clients recognise from Europe.Article 46.
How it compares
How Mexico differs from other routes.
Mexico trades a slow, three-institution authorisation for the deepest destination market in Spanish-speaking America. The honest comparison is below.
Mexico vs other jurisdictions
| Feature |  Mexico | Other jurisdictions |
|---|---|---|
| Law | Fintech Law 2018 - one statute | Regulations layered over banking acts |
| Capital | 500,000 / 700,000 UDIs | Fixed in local currency |
| Decision | CNBV + Committee - a year or more | Three-month statutory clocks |
| Market | 130M · USD 60bn remittances | Smaller or passport-based |
Law
MexicoFintech Law 2018 - one statute
Other jurisdictionsRegulations layered over banking acts
Capital
Mexico500,000 / 700,000 UDIs
Other jurisdictionsFixed in local currency
Decision
MexicoCNBV + Committee - a year or more
Other jurisdictionsThree-month statutory clocks
Market
Mexico130M · USD 60bn remittances
Other jurisdictionsSmaller or passport-based
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Mexico | IFPE (CNBV) | 30% + PTU 10% | 500k / 700k UDIs · segregation |
 Brazil | Instituição de pagamento (BCB) | ≈34% | R$ 2M per modality · R$ 1M ITP |
 Colombia | SEDPE (SFC) | 35% | COP 5,846M indexed · Fogafín |
 USA | State MTLs · MSB | 21% + state | 50 state licences · surety bonds |
MexicoLicense typeIFPE (CNBV)
Taxation30% + PTU 10%
Requirements500k / 700k UDIs · segregation
BrazilLicense typeInstituição de pagamento (BCB)
Taxation≈34%
RequirementsR$ 2M per modality · R$ 1M ITP
ColombiaLicense typeSEDPE (SFC)
Taxation35%
RequirementsCOP 5,846M indexed · Fogafín
USALicense typeState MTLs · MSB
Taxation21% + state
Requirements50 state licences · surety bonds
Before you apply
Requirements for the IFPE authorisation.Requirements for the authorisation.
Article 36 of the law and the CNBV provisions list what the file must prove; the craft is a file that three institutions read the same way. The checklist below is what a passing application contains.
01
A Mexican sociedad anónima with its domicile in national territory and bylaws that fit the Fintech Law - Article 36 (I) to (III).
02
Minimum capital under Articles 6 to 8 of the CNBV provisions: 500,000 UDIs in pesos-only mode, 700,000 UDIs with foreign currency, virtual assets or clearing - subscribed and paid at the prior 31 December UDI value.
03
Shareholders and beneficial owners identified with source of funds, and directors and a general manager with clean records and relevant experience for the CNBV's assessment.
04
A business plan and programme of operations that the CNBV, Banco de México and the Committee can interrogate - products, volumes, projections and the technology behind them.
05
Segregation of client funds under Article 46: accounts at authorised financial institutions or repo arrangements, identified client by client, with no interest paid under Article 29.
06
Operational and technology controls to the CNBV's provisions: information security, business continuity, incident management and the cybersecurity standard the CNBV updated for 2026.
07
AML/CFT framework under Article 58 and the CNBV's provisions: customer identification, monitoring, reporting to the Financial Intelligence Unit and an oficial de cumplimiento.
08
Banco de México authorisation where the model touches foreign currency or virtual assets (Articles 26 and 30), designed into the file rather than added later.
09
Governance: a board, internal control and risk management, external audit and the reporting the CNBV expects from a supervised institution.
10
Readiness for the Article 40 verification - capital, systems and controls in place before the first transaction, with the authorisation published in the Diario Oficial under Article 38.
01
Mexican S.A., domicile in Mexico (Art. 36).
02
Capital 500k / 700k UDIs at prior 31 Dec value.
03
Owners and officers assessed by the CNBV.
04
Plan three institutions can interrogate.
05
Segregation per Art. 46; no interest (Art. 29).
06
Technology controls per CNBV provisions.
07
AML with oficial de cumplimiento (UIF).
08
Banxico authorisations for FX/crypto.
09
Board, internal control, external audit.
10
Art. 40 verification before launch.
Reflects the Ley para Regular las Instituciones de Tecnología Financiera (Articles 5, 22-23, 26, 29-30, 35-36, 38, 40, 46) and the CNBV's Disposiciones de carácter general aplicables a las ITF (Articles 6-8), with the UDI of 31 December 2025 published in the Diario Oficial.Ley Fintech Arts. 5, 22-23, 26, 29-30, 35-36, 38, 40, 46; CNBV provisions Arts. 6-8; UDI 31.12.2025.
How it works
From first call to the Diario Oficial.
01
Route and strategy
IFPE or transmitter, pesos-only or with FX and virtual assets, corridors and products - the route and budget fixed in writing.IFPE or transmitter - in writing.
02
Mexican company and people
S.A. incorporation, capital evidence in UDIs and the shareholders, directors and officers the CNBV assesses.S.A., UDI capital, assessed officers.
03
The application file
Every requirement of the law and the provisions answered before filing - the file has to survive the CNBV, Banxico and the Committee together.Law and provisions answered in full.
04
CNBV and Committee review
Question rounds answered, the Committee's agreement obtained - plan on twelve to eighteen months end to end.12-18 months realistic.
05
Verification and launch
Article 40 verification passed, authorisation published in the Diario Oficial, rails connected - and the reporting calendar running.Art. 40 passed, DOF published.
Quick facts
RegulatorCNBV · Banxico · Committee
LawLey Fintech · 9 March 2018
LicenceIFPE · Arts. 22-23
Capital500,000 / 700,000 UDIs
In pesos≈ MXN 4.33M / 6.07M (2026)
Client fundsSegregated · no interest
Timeline12-18 months realistic
Corporate tax30% + PTU 10% · VAT 16%
The law is precise and the process is slow. A file that answers the statute article by article - and reads the same to three institutions - is what shortens the year, and our job.
Your Mexico desk
Run from our Americas desk.
Prifinance - Americas desk
Madeira (Portugal) · coordinating Mexican mandates in Spanish
Rua da Alegria 31, 1F, Madeira
01
Mexican company formation
S.A. incorporation, capital to the UDI figure and the corporate layer the CNBV expects - structured for the authorisation from day one.S.A., capital in UDIs, corporate layer.
02
The CNBV file
Business plan, segregation design, technology and AML documentation to the CNBV provisions - drafted by us and defended through the questions of three institutions.Reads the same to three institutions.
03
Banco de México layer
Where the model touches foreign currency or virtual assets, the Banxico authorisations scoped with the licence so the product launches whole.FX and crypto scoped with the licence.
04
Substance in Mexico
Resident directors, a general manager and compliance officer, and premises in Mexico City or Monterrey - a real presence the CNBV inspects under Article 40.Resident officers, real premises.
We also have offices in
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Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
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UAE
33 Level, Al Saqr Business Tower
Budapest
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Korányi Sándor u. 4
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Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Mexico.
A 30% corporate rate, the 10% statutory profit share, 16% VAT and a wide treaty network - a stack to plan around rather than discover.
Corporate tax 30%
The federal rate on an IFPE's fee and margin income - no state corporate tax, but the PTU sits beside it.Federal, no state layer.
PTU 10%
Employees receive 10% of taxable profit by constitutional right, capped per employee since the 2021 reform - budgeted as a cost line from the first profitable year.Statutory profit share.
VAT 16%
The standard rate; interest and certain financial operations are exempt while fees are generally taxed - the product mix is mapped before launch.Fees taxed, interest exempt.
Dividends and treaties
10% withholding on dividends to foreign shareholders with relief under 60-plus treaties - the group structure is modelled with the licence.Treaty-relieved.
Payroll and social security
IMSS, INFONAVIT and state payroll taxes on top of salaries - the operating budget prices them in.IMSS, INFONAVIT, state.
Nearshoring incentives
Accelerated deductions for investment in export-oriented sectors - relevant to the technology side of a group building on the border.Accelerated deductions.
Tax summary
Corporate tax30%
Profit sharing (PTU)10% of taxable profit
VAT16% · border zone 8%
Dividend withholding10% · treaty-relieved
PayrollIMSS · INFONAVIT · state taxes
Tax treaties60+
*Figures as of 2026 per the SAT. Incentive eligibility is assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Mexican S.A., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
Follow Prifinance
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Mexico · CNBV
Launch your payment project in Mexico with expert support.
Full-service assistance - from incorporation to the IFPE authorisation, Banco de México layers, segregation design and ongoing compliance.
Get a consultation →Free legal opinion
Is Mexico the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Mexican payment licence, answered.
What licence does a payment business need in Mexico?+
An authorisation as an Institución de Fondos de Pago Electrónico under Articles 22 and 23 of the Fintech Law, granted by the CNBV with the prior agreement of the Interinstitutional Committee under Article 35. Pure remittance businesses that hold no client balances can register as money transmitters instead.
How much capital is required?+
Articles 6 to 8 of the CNBV provisions: 500,000 UDIs for an IFPE operating in pesos only, 700,000 UDIs if it also handles foreign currency, virtual assets or clearing - paid up by the last business day of the year at the UDI value of the previous 31 December. At 8.665 pesos, about MXN 4.33 million and 6.07 million in 2026.
How long does authorisation take?+
The law's Article 5 sets ninety days per procedure, but an IFPE file passes the CNBV, Banco de México and the Interinstitutional Committee, then an Article 40 verification before launch. Plan on twelve to eighteen months end to end; a file that reads the same to all three is the lever.
How are client funds protected?+
Article 46: kept segregated from the institution's own funds, identified per client, and deposited at authorised financial institutions or placed in repo operations. Article 29 forbids paying interest or any other return on them.
Can an IFPE handle foreign currency or crypto?+
Only with Banco de México's prior authorisation - Article 26 for foreign currency, Article 30 for virtual assets, which are limited to those Banxico determines by general provisions. Both raise the capital bar to 700,000 UDIs.
Who authorises, and how is it published?+
The CNBV, with the agreement of the Committee of six - two members each from the Finance Ministry, Banco de México and the CNBV. Under Article 38 every authorisation is published in the Diario Oficial de la Federación.
How are payment companies taxed?+
Corporate tax at 30%, the 10% statutory profit share to employees, 16% VAT with exemptions for interest and certain financial operations, and 10% withholding on dividends abroad with treaty relief.
What substance does the CNBV expect?+
A Mexican S.A. run from Mexico: resident directors and a general manager, a compliance officer reporting to the Financial Intelligence Unit, real premises, and systems the CNBV verifies under Article 40 before the first transaction.
Does the licence passport anywhere?+
No - Mexico is a destination licence for its own market and the US corridor. Groups serving Spanish-speaking America pair it with Colombia, Chile or Peru; we sequence them.
Why Mexico rather than Brazil?+
Different markets, different rails: Brazil is Pix and a Portuguese-speaking regulator; Mexico is the remittance corridor, SPEI and a law written for fintech. Groups serving both hold both - the Americas desk builds each file in its own language.
Which licence?+
IFPE under the Fintech Law; transmitter registration for pure remittances.
Capital?+
500k / 700k UDIs - ≈ MXN 4.33M / 6.07M.
How long?+
12-18 months through CNBV, Banxico and the Committee.
Client funds?+
Segregated, no interest (Arts. 46, 29).
FX / crypto?+
Only with Banxico authorisation; 700k UDIs.
Who authorises?+
CNBV with the six-member Committee; DOF publication.
Taxes?+
30% + PTU 10%, VAT 16%, WHT 10%.
Substance?+
Resident officers, compliance, Art. 40 verification.
Passport?+
No - destination licence.
vs Brazil?+
Remittance corridor and SPEI vs Pix.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Comisión Nacional Bancaria y de Valores or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.