In today’s digital universe, technology continues to drive connected commerce and innovative payment solutions. Companies involved in electronic payments need legal counsel with the resources and experience to help them navigate the competitive and evolving landscape, both efficiently and cost-effectively. We are nationally recognized for our decades of experience with the following legal issues:
Regulatory Compliance and Payment Operations
Payment providers need to evaluate their legal and regulatory exposure to assess risks and make critical business decisions. There is no one-size-fits-all solution for every payment provider or transaction flow. Our attorneys are experienced in working with clients to identify problems, mitigate risk, and take maximum advantage of strategic opportunities and solutions tailored to business goals.
Strategic Relationships and Contracts
Payment-related contracts are unique and require industry-specific provisions and considerations. We advise clients on a multitude of matters, such as:
- Acquisition and sale of payment company assets.
- Drafting, reviewing, and negotiating high-stake sponsorship and commercial agreements.
- Independent Sales Organizations (ISOs).
- Payment Facilitators.
- Independent software vendors (ISVs).
- Value-added resellers (VARs) or sales agents.
Litigation and Regulatory Enforcement
We work with clients to proactively identify litigation and enforcement risks before they manifest. Where unavoidable, our team is uniquely suited to litigate regulatory enforcement actions involving payment-related issues. We also regularly advise clients on pre-litigation issues, such as violations of non-solicitation restrictions, imposition of reserve requirements, suspicious merchant activity, and minimum processing requirements.
Our clients regularly seek our counsel on a variety of payment needs, including:
- ACH processing and NACHA compliance.
- Bank Secrecy Act compliance (including Anti-Money Laundering (AML) programs).
- BIN Sponsor Agreements.
- Cannabis, CBD, and Hemp related payment processing.
- Card brand compliance.
- Consumer Financial Protection Bureau (CFPB) regulations.
- Digital Wallets.
- Electronic Funds Transfers – Regulation E.
- Federal and state money services business (MSB) and money transmitter regulatory compliance.
- Exemptions to money transmission laws including: agent-of-the-payee, payment processor, integral to sale of good or services, and authorized delegate exemptions.
- Federal Trade Commission Act (FTC) regulations.
- Financial Crimes Enforcement Network (FinCEN) regulations and guidance.
- Integration Agreements.
- Merchant and Sub-Merchant Agreements.
- Mergers and acquisitions of payment businesses.
- Mobile payments.
- Payment Facilitator Sponsorship Agreements.
- Prepaid access.
- Processing Agreements.
- Referral Agent Agreements.
- Remittance Transfer Rule – subpart B of Regulation E.
- Sale of merchant portfolios, residual income streams, and other payment assets.
- Sate consumer privacy acts and data security laws.
- State escheatment laws.
- Surcharges, convenience fees, cash-discount programs.
- Virtual, digital, and crypto currencies.