In light of COVID-19 developments, we have prepared tips for ISOs, processors, payment facilitators, ISVs, money services businesses, and banks.  

As of January 1, 2020, the California Consumer Privacy Act (CCPA) is now in effect. As we explained here, the CCPA imposes requirements on merchants and payment processors to protect personal information of California residents. Enforcement of the law does not begin until July 1, 2020, which is good because the regulations interpreting the law …

A federal court’s interpretation of a merchant contract resulted in the merchant not being liable for card brand security breach assessments. It may be worthwhile to examine and revise your merchant agreement in light of that ruling. In Specs v. First Data, decided June 2019, the US Court of Appeals for the Sixth Circuit ruled …

Recent opinion provides welcome clarity on Oklahoma’s position on surcharge ban enforceability, relating to electronic payment processing By Nicole Meisner and Daniel Ungar, Attorneys, Jaffe, Raitt, Heuer & Weiss Judicial developments surrounding the legality of credit card surcharging have made keeping up with the latest news on this issue a challenge. Currently, there are several …

The Maryland legislature has passed legislation that, if signed by the Governor, will require merchant acquirers to revise their merchant applications and agreements. Under the proposed law, merchant services providers, financial institutions, independent sales organization (ISO’s), or any subsidiary or affiliate of those entities (“Credit Card Processors”) will be required to provide merchants with specific …

Developing an anti-money laundering program (AML) can prove challenging for card processing companies. While not an exhaustive list, here are 9 areas that an AML program should be sure to include: Firm Policy – A general written AML policy reflecting the fulfillment of the obligations set forth in the AML program. AML Compliance Person – …