After the authorities withdraw the license from Accendo bank, the platform Rappi assured that the institution represented a minimal participation within its operation, so it will only affect only 1.2% of users of your RappiPay debit card.
According to the company, once they were informed of the situation they sent a request to cancel the contract with immediate effect and unilaterally.
“The impact is minimal, only 1.2% of active users in Mexico will not be able to use their RappiPay debit card for a short period of time. Nevertheless, will continue to have access to their physical and digital credit card, their funds through purchases at Rappi, interbank transfers, Rappicash, among others ”, he indicated.
Likewise, the company specified that From Tuesday he began direct communication with each of his clients to notify them of the process and the support that it will provide.
In this sense, Rappi assured that has a solid fintech structure, which has been supported in Mexico and in the other countries of the region through national financial brands, international and the best institutional investors in the world.
Lee: Accendo loses its license to operate as a bank; will affect more than 1,500 savers
In June 2019, Rappi presented its RappiPay Visa card, which was partially issued by Accendo; The plastic is processed through the app and promises to be delivered within 45 minutes by a Rappitendero at the indicated address.
Rappi said that they will continue to operate normally with the other suppliers, who were already involved in most of the operation, keeping the financial security of their clients and their levels of trust intact.
While, Visa announced that they are working in collaboration with the actors of the payments ecosystem in order to jointly take the necessary measures in this situation.
“It is our knowledge that the Bank of Mexico and the National Banking and Securities Commission (CNBV) announced on September 28, 2021, the revocation of the authorization of the license of Accendo Banco, SA, Institución de Banca Múltiple ( Accendo Banco) to operate as a multiple banking institution. We are working in collaboration with the actors of the payments ecosystem, jointly taking the necessary measures in the face of this situation, outside of Visa ”, he pointed out.
Two days ago, the authorities withdrew Accendo’s license, after the CNBV carried out supervisory actions between March and September that resulted in capital and liquidity defaults.
The integration of 642 million pesos was also detected as contributions for future capital increases that did not meet regulatory requirements, so they even had to be recognized as liabilities.
Likewise, it was found that there was an omission when discounting from the fundamental capital an amount of 370 million pesos associated with operations related to relevant parties, among other non-regulatory operations such as advance payments and intangible assets.
On September 22, Accendo Banco was required to make accounting adjustments for 1,013 million pesos; at that time, Banco de México calculated that its capitalization index at the end of August was lower than the regulatory limit, which is grounds for revocation of the authorization to operate as a bank.
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