Payment Processing

The payment-processing team includes a deep bench of compliance-focused attorneys who understand the interplay of regulatory technicalities with practical operational realities. We guide clients through compliance concerns that intersect with payment processing, from Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations to know-your-customer (KYC) rules and procedures and state money-transmitter licensing laws. Our lawyers also assist clients with PCI-DSS and other data security standards, compliance with card network rules and GDPR, PSD2 and other cross-border compliance issues.

Understanding the nuances of liability allocation, charge-back and fraud risk, fee structures, reserve accounts and termination rights, the team tailors contracts to protect clients’ interests while maintaining compliance with card network and regulatory expectations. These include merchant agreements, ISO and payment-facilitator agreements, sponsoring bank relationships, payment gateway and technology licensing agreements, data-sharing and processing agreements,and terms-of-service and privacy policies.

With lawyers in seven of the most active fintech hubs, McGuireWoods helps start-ups and established companies launch new products and platforms and advises on embedded finance, crypto payments, BNPL (buy now, pay later), API integrations and neobank partnerships. We also counsel buyers, sellers and investors in payment processing-related transactions, assisting with legal due diligence, structuring, regulatory clearance and post-closing integration.