Electronic Payments Litigation Service
Local and National Electronic Payments Litigation
At Global Legal Law Firm, our attorneys offer over 30 years of combined experience in business litigation and commercial collections.
We’ve also specialized in electronic payments litigation since 2008, in both our local San Diego, California area and across the United States. Our expert lawyers have represented a wide range of clients including ISOs, processors, agents, credit card brands, and more.
Electronic payments are a complex practice, and we don’t recommend attempting to navigate the world of bankcard processing without experts on your side. Here are some areas in which we can help, and why you’ll be better off with us.
Our company represents entities at every level of payment processing, including contract review for your merchant account. If you intend to accept electronic payments via credit or debit card, as practically any modern business should as a customer service initiative, you’ll need to make a merchant account with your acquiring bank. This bank account allows you to accept credit and debit funds, and it also ensures that you follow regulations set by your chosen financial institution. You’ll also select card brands to accept, such as American Express, MasterCard, or Visa.
Documents that you’ll need include any records about your business activities, a voided check for the checking account, and financial information like tax returns. Our firm can assist you with the application process and ensure that you’re in line with regulations set by your merchant service provider.
A reserve fund is a savings account or liquid asset that’s set aside and used to cover business expenditures. Oftentimes, these funds are set up for specific functions. If you offer payment methods like credit cards for online transactions, then you’ll need a rolling reserve fund to cover these transactions. You’re likely aware that customers receive credit from their financial institutions to cover the charge and are then expected to pay it back in a predetermined amount of time to avoid fines. This, in a way, applies to you as well, since your payment processor issues you credit for the payment when it’s approved by an automatic clearing house (ACH). If customers don’t pay the money back, it will result in chargebacks that your business may be liable for.
Your rolling reserve fund should be in place to cover these situations. The merchant who initiated the transaction via credit card payment system is the first party responsible for chargebacks. The chain then goes up to the salesperson, the ISO, and eventually the financial institution.
Our law firm can help you make sure that you’re always treated fairly – that the reserve fund rates applied to you are reasonable as applied to you, not simply by industry. If you receive large chargebacks from another business, we can help you pursue collections. If you’re having difficulty getting your money back from held funds, we can help with that as well.
MATCH List or TMF Removal
The MATCH (Member Alert to Control High-Risk Merchants) list, also known as a terminated merchant file (TMF) is a list provided to banks that identifies high-risk merchants, so that financial institutions and ISOs can make informed decisions about dealing with them. Being placed on the list won’t cause you to lose existing merchant accounts, but it will prevent you from opening new ones, at least with MasterCard.
The most common reason to be placed on this list is having excessive chargebacks, but you can also be placed on the list for fraudulent activity, data breaches that leak personal information, and other violations of standards. After five years, you’ll be automatically removed from the list, assuming that there were no other violations, but that can be too long to wait for a small business or a large organization. There’s also the possibility that you were put on the list unjustly.
Our firm can help get you off the list. To get started, we’ll need any documents detailing the original event that got you placed on the list, any agreements with your service providers, and any other relevant information about charges. It’s important to note that there’s no way to guarantee that you get off the list, but Global Legal MATCH letters are given great weight, and we’ll do everything in our power to get your payment service back in shape.
Electronic Payment Litigation FAQs
If your credit card processing company has breached your contract, you may have a promising lawsuit. However, suing a credit card processing company will take time and effort. These companies often have lawyers on staff for precisely this reason. Handling the legal matter alone may not yield the results you seek.
An experienced credit card dispute lawyer can help you navigate the often confusing terrain of filing a claim against your credit card processing company. The legal team at Global Legal Law Firm can analyze your case and explain your legal options. If you decide to sue, their experienced team of electronic payment attorneys can help you throughout your case.
There are several reasons you may choose to sue a credit card company. Two more common reasons are if your credit card company breached your contract or harassed you.
- Breach of contract: If your credit card company breached your contract, you might have good reason to sue. It is essential to read your contract carefully and outline which clauses were breached. Note what evidence you have to prove the credit card company breached the contract.
- Harassment: If you have credit card debt and your credit card company has been harassing you, you may be eligible to file a legal claim against them. The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from harassing you and performing other behaviors.
- Early termination fees. Some ETFs can violate state law and public policy.
- Recurring billing violations. Recurring billing requires compliance with state law.
- Hidden fees or misbilled fees. The fees for processing are confusing. Payment processing companies take advantage of the confusion and overcharge,
- Wrongful termination. Some payment processing companies fail to underwrite an account, and then will terminate your account. That is their fault, not yours.
If you believe you have a valid legal claim against a credit card company, it is crucial that you speak with a knowledgeable credit card dispute lawyer about your case.
The Durbin Amendment regulates credit card processing companies. The federal government established the Durbin amendment as part of the Dodd-Frank Law. You can also report credit card processing companies to the Consumer Financial Protection Bureau (CFPB).
Some states have enacted individual laws to regulate these companies.
There are several methods of reporting a credit card company to the CFPB. You may report them via phone, fax, online, or via mail.
- To report a credit card company by phone, call toll-free, 1-855-411-CFPB (2372).
- To report a credit card company by fax, fax your complaint to 1-855-237-2392.
- You can file your complaint online at www.consumerfinance.gov/complaint/.
- You can mail a letter to Consumer Financial Protection Bureau, P.O. Box 4503, Iowa City, Iowa 52244.
A lawyer for credit card dispute issues can help guide you through your report and other legal actions.
Under the Fair Credit Billing Act (FCBA), you are entitled to the following rights:
- The right to dispute unauthorized charges.
- The right to dispute charges with incorrect amounts or dates.
- The right to dispute charges for services or products not delivered as promised.
- The right to dispute bills sent to the wrong address.
If you believe you have been subjected to billing errors that fall into the above categories, a reputable credit card dispute lawyer can help you determine your legal options.
The best lawyer for a credit card dispute is a lawyer who is well-versed in credit card dispute laws and regulations. An experienced credit card dispute attorney can expertly consider the facts of your case and identify the legal routes available to you. If you decide to press charges against the credit card company, your credit card dispute lawyer will help you craft a compelling argument for your case and guide you through the legal process. The credit card dispute legal team at Global Legal Law Firm can help you determine the best course of action and answer your questions.
The first step to taking legal action against your credit card company is to speak with an experienced lawyer for credit card dispute issues. They may recommend filing a complaint with the Consumer Financial Protection Bureau, taking your case to arbitration, or filing a legal claim against the credit card company. You may have several viable options for handling your credit card dispute; Global Legal Law Firm’s attorneys can explain the details and timeline associated with each option.
Once you understand the available options, your lawyer will answer your questions to ensure you are prepared to make the best decision for your situation. Then, they will guide you through the accompanying legal processes to ensure the best possible result for your claim.