BRX Payments

BRX Payments is a Mexican financial technology company that operates as a regulated Electronic Payment Funds Institution (Institución de Fondos de Pago Electrónico or IFPE) under Mexico's Fintech Law. The company received authorization from the Comité Interinstitucional in March 2021 to organize and operate as an IFPE, enabling it to issue, administer, redeem, and transmit electronic payment funds. Based in Mexico City, BRX Payments provides digital payment solutions including payment cards and digital account services designed to facilitate money transactions for both individual consumers and businesses. The company's product offerings include virtual and physical payment cards, digital account management services, and complementary financial products such as a virtual vault, insurance services, and travel-related financial products. As a licensed IFPE, BRX Payments operates under the regulatory framework established by the Ley para Regular las Instituciones de Tecnología Financiera (Fintech Law), subject to supervision by the Comisión Nacional Bancaria y de Valores (CNBV) and compliance with regulations issued by Banco de México. The company was authorized with an initial capital of 4,014,116 Mexican pesos and is permitted to conduct operations specified in Article 25 of the Fintech Law, including fractions I, IV, VII, IX, X, and XIII. BRX Payments competes in Mexico's growing electronic payments and digital wallet segment alongside other licensed IFPEs such as NVIO Pagos, Cuenca, and STP, serving the country's expanding fintech ecosystem which includes over 1,000 providers as of 2024.