Payment services

We continue to work with the client – a small payment institution, providing payment services: issuing credit cards and providing payment credit to consumers.

We continue to work with the client – a leading payment institution. Due to changes in the legal environment and the commencement of application of Regulation (EU) 2022/2554 of the European Parliament and of the Council of December 14, 2022 on the operational digital resilience of the financial sector and amending Regulations (EC) No. 1060/2009, (EU) No. 648/2012, (EU) No. 600/2014, (EU) No. 909/2014 and (EU) 2016/1011 (the DORA Regulation), the client asked us to prepare the necessary documentation and adapt its operations to the requirements of the DORA Regulation.

We acted as sole counsel in the end-to-end launch of a revolving-limit credit-card product for a small payment-institution and one of the market’s most prominent consumer-lending brands. The mandate began at concept stage and extended through commercial go-live.

We provided full-scope legal and regulatory support to a licensed e-money institution including regulatory implementation, and contractual roll-out of a new payment service model based on payment accounts structured on electronic money (e-money).

We advised our client, a small payment institution on the legal, regulatory and operational aspects of implementing a card-to-card (C2C) payout service, enabling end-users to transfer funds directly to payment cards via the Visa and Mastercard card scheme infrastructure.

We provided comprehensive legal support for a highly innovative project aimed at developing a pilot solution for creating a model and interoperability mechanisms for blockchain-based solutions enabling Delivery vs Payment (DvP) settlements of securities transactions.