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Financial Services and Payments

We act for financial firms and their providers across a wide range of core financial services platforms and solutions, including advising on the regulatory impacts and risks of acquiring new technologies.

Why choose our Payments and Cards lawyers?

Our team supports a wide range of financial firms on technology procurements, outsourcings, cloud and SaaS contracting and technology consulting. As well as contractual support, we have supported clients through their internal risk assessments and communications with the regulators on new projects; and are adept at finding workable, novel solutions to the operational and regulatory challenges of technology implementations in critical financial services environments.

Equally, we support suppliers to the financial sector to understand financial firm customers and how to provide viable, compliant solutions. Our ability to see the entire market and different points of view often helps us bridge gaps between suppliers and customers and effectively  close contracts.

We have a significant focus within our practice on payments services. The payments space has advanced significantly in recent years. Where once cash was king, business and organisations of all sizes are now expected by clients and customers alike to provide payment options as diverse as online, remote and third-party enabled solutions. Navigating the regulatory and contractual complexities around providing these services can be daunting, but we can help. 

Fieldfisher has a well-established, expert team working with clients across the payments space. We frequently advise both payment providers and companies deploying payment systems in their consumer facing models or supply chain. 

Alongside this, we also regularly advise clients on contractual work for payment services.

Regulatory

The regulatory landscape in financial services is complex.  Luckily for our clients we know it inside out. Our team has expert understanding of where your businesses or organisation will fall within current and predicted regulatory requirements and how you should model your business appropriately. 

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Notable deals and highlights

  • We advised a leading mobile operator on a series of m-payments projects, including its m-payments joint venture arrangements with other mobile network operators.
  • We advised a major international bank on the terms and conditions of use for its innovative m-payments service.
  • We acted for Starbucks on its arrangements to establish an authorised e-money issuer as part of its loyalty card, and subsequently on the UK implementation of European Directives on E-Money and Payment Services.
  • We advised Nintendo on the payments aspects of the launch of its UK online retail store.
  • We acted for a leading UK bank on a series of e-money programmes, including the launch of mobile banking systems on iPhone and an alliance agreement with Google.
  • We advised the Payments Council on competition and regulatory issues across a number of projects, including those associated with collaborative use and procurements of payments infrastructure and the Central Account Switching Service.
  • We advised Travelex in relation to dynamic currency conversion services across the Nordic countries, including advice on SEPA regulations relating to credit transfers and direct debits in Euros.
  • We acted for Stagecoach on its mobile ticketing collaboration with EE.
  • Germany's Tech & Finance team advised Finance Platform Vivid Money on the market launch of its mobile banking app. The team provides legal support for the Banking as a Service (BaaS) cooperation with Solaris Bank as well as other legal issues in connection with the Vivid Money offering.
  • A team from our German offices advised an open banking and data analytics platform regarding a cloud solution platform as well as a collaboration agreement with yes.com (other topics involve e-signatures, AML, video registrations). The same team also advised Epay/ Cadooz on privacy and corporate issues.

Key contacts

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