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.

Payment Contracts

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.

Reserve Funds

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.

Contact Global Legal Law Firm

No matter what your electronic payments litigation needs are, we’re available for free 15-minute-long consultations. We can identify what kind of help you’ll need and figure out a plan that works for you.

DISCLAIMER: The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt of viewing does not constitute an attorney-client relationship. Prior results do not guarantee a similar outcome.


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