Financial services, payment products and payment systems have been redefined by the Internet, the development of new electronic payment infrastructures and the entrance into the financial services market of new payment service providers.

Our Electronic Financial Services practice provides regulatory compliance counseling, consumer protection counseling, and business transaction assistance regarding a wide range of payments matters related to emerging and traditional payment systems, services and products.

We have substantial experience in working with federal and state money services laws, including the Bank Secrecy Act, FinCEN regulations, and state money transmission and financial services laws. We have helped a number of clients work with FinCEN and state regulators to navigate the processes of licensing and compliance with nuanced regulation. We have an especially strong practice advising companies who have developed new and complicated financial services technologies, such as blockchain solutions, marketplace payment processing and virtual currency exchanges, navigate the complicated web of financial services rules and regulations.

Perkins Coie Clients include technology infrastructure providers, wireless carriers, online and physical retailers, payment service providers, social networking companies, software application developers, credit and debit card networks and payment standards associations.

Perkins Coie's Fintech Capabilities 

Our Fintech industry group counsels a wide array of fintech companies on regulatory compliance, consumer protection, privacy, intellectual property and business transactions. We represent mobile & traditional payment companies, financial institutions, online lenders, robo advisors and blockchain and other emerging technology companies.

Capabilities and Experience

  • Mobile banking, mobile payments, mobile commerce and mobile marketing
  • Online payments, e-commerce and peer-to-peer payments
  • Virtual currencies, electronic cash wallets and real money transfers
  • Decentralized crypto-currency programs
  • Gift card, rebate card and other stored-value programs
  • Loyalty and membership cards and “Points” programs
  • Emerging payment systems and payment processing
  • Credit card processor, payment gateway and merchant agreements
  • Private label, co-branded, corporate and purchasing credit card agreements
  • Payment processing provider service agreements
  • Payment Industry technology standards and associations
  • Licensing of technology and software
  • Encryption, electronic authentication and digital signatures
  • Channel distribution and strategic partnerships
  • Crowdfunding

Areas of Emphasis

  • Gift certificate laws
  • Unclaimed property and escheat laws
  • Money transmission and “Money Service Business” laws
  • Anti-money laundering laws and programs
  • Consumer lending and loan brokering laws
  • Electronic fund transfers laws including those applicable to recurring payments
  • Financial privacy and data security laws and regulations, including Gramm-Leach-Bliley
  • Credit, debit and ATM association rules
  • Payment Card Industry (PCI) data security standards
  • Consumer protection laws related to payments products and services
  • Consumer credit laws and regulations
  • Fair debt collection practices
  • Gambling, lotteries and sweepstakes
  • Coupons and rebates
  • Electronic authentication and digital signature requirements