Finance & Financial Services

Cards & Payments

Leading clients with payment solutions through the financial regulatory maze.

Meet the team

We work at the forefront of payment services issues and play an instrumental part in the sector. Our clients are led through the financial and regulatory maze with clear, practical advice, whether they are new to the industry, are seeking advice on the latest regulations or want to expand their businesses internationally. We work closely with regulators on developments and concerns facing the industry and with key supervisory bodies, in addition to regulators and industry bodies across other developed and emerging markets.

Electronic Payments

Businesses accepting payments by ACH and payment cards in the consumer and B2B context are faced with a nuanced set of legal, regulatory and industry requirements. The issues that arise are varied and complex, requiring a custom-tailored approach and unique subject-matter experience. Locke Lord advises clients on:

  • Applicable laws, rules, regulations and contractual obligations around electronic payments, including requirements and nuances of Reg E, NACHA Rules and applicable payment card rules
  • ACH and payment card payments via internet and phone, including authorization, authentication and security issues
  • Outsourcing payment processing while remaining compliant with security obligations
  • Reviewing and negotiating vendor agreements and third-party payment processor agreements
  • Advising merchants in payment transactions regarding Payment Card Industry Data Security Standards (PCI DSS) compliance obligations, including with respect to third- party vendor contracting and vendor management
  • Security breaches involving payment cards, including coordinating forensic investigations
  • Record retention requirements