Grupo Regalii, Inc.; On June 20, 2017, the Office of Financial Regulation (Consumer Finance) received a Petition for declaratory statement from Grupo Regalii, Inc. (a software company that specializes in bill pay solutions). The petition seeks a ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has received the petition for declaratory statement from Grupo Regalii, Inc. The petition seeks the agency’s opinion as to the applicability of Chapter 560, Florida Statutes, as it applies to the petitioner.

On June 20, 2017, the Office of Financial Regulation (Consumer Finance) received a Petition for declaratory statement from Grupo Regalii, Inc. (a software company that specializes in bill pay solutions). The petition seeks a declaratory statement from the Office on whether Petitioner's proposed business model (of offering an application program interface that connects service providers who provide periodic bills to consumers, such as utility and telecom businesses (" Billers"), to licensed money transmitters who accept payments from consumers. Regalii's software provides the path by which licensed money transmitters can offer real-time bill payment to consumers, even when the consumer's bills are with providers in another country) falls within the Florida Money Transmitter Statute, Chapter 560, Florida Statutes. This is the 3rd Petition for Declaratory Statement from Grupo Regalii Inc. A similar Petition was filed on November 28, 2016 and the 2nd Petition was filed on April 18, 2017. Per the Petitioner, “in an attempt to simplify the information provided, Regalili is submitting this Petition and accompanying flow of funds visual chart.”

A copy of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].