Fintech Experience | White & Case LLP International Law Firm, Global Law Practice

Experience

Kreditech
Representation of Kreditech with respect to its collaboration with Naspers/PayU in the online consumer credit area. The deal involved complex regulatory and data protection issues regarding the rollout of the collaborative credit services in various countries around the world.

Ameriprise/Concardis
Representation of Bridgepoint Advisers Limited in the acquisition of Concardis GmbH, one of Europe’s leading payment service providers.

Equens/World Pay
Representation of Equens SE, one of the largest payment service providers in Europe, in a strategic business combination with the European market leader in payment and transactional services, Worldline SA. The business combination created the new pan-European leader in payment services. In addition, Worldline SA acquired PaySquare, the commercial acquiring subsidiary of Equens. The transaction was subject to regulatory and antitrust authorities´ approvals.

Financial technology company
Representation of a financial technology company providing merchant cash advance and other products and business services as lead regulatory and enforcement counsel.  Our advice included: advising the company on the full range of applicable consumer financial services and bank regulatory laws in an effort to ensure efficient and compliant product and service development; the successful defense of a confidential state regulatory inquiry into certain business practices; and negotiating a private resolution to private, civil claims of alleged trademark infringement and cyber theft. 

Financial technology company
Representation of a financial technology company in connection with a broad range of regulatory issues surrounding the development of its core products and services and also in connection with obtaining a bank charter, including a special-purpose fintech charter. 

Verizon Wireless
Representation of Verizon Wireless in connection with the “Softcard” joint venture with other major wireless carriers for the development of a wireless payment platform.  Our role in this matter involved advising as to the structure of technology, personnel and IP contributions, vendor selection and negotiation of the sourcing and licensing arrangements with the various parties engaged to build the platform, commercial terms and potential royalty and value streams, as well as the rights as between the venture and the participating carriers and third-party licensees. We also advised on compliance considerations in establishing the platform, including US banking and consumer financial law considerations.

Largest Asian credit card and payments processor
Representation of the largest Asian credit card and payments processor in its decision to permit US banks to become members of the card company, including review and revision of operating documents, including bylaws, license and membership agreements and creation of an anti-money laundering (AML) and sanctions program to comply with US Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) sanctions requirements.

DZ Bank AG
Representation of DZ Bank AG and its subsidiary, Transaktionsinstitut für Zahlungsverkehrsdienstleistungen (TAI) AG, in structuring the first cross-border partnership in the European payment services market with KBC Bank, Brussels and its payment services provider, Fin-Force, by way of a share swap. In addition, we handled payment services agreements on behalf of our client. We also represented DZ Bank AG in the merger between Transaktionsinstitut für Zahlungsverkehrsdienstleistungen and Interpay Nederland, resulting in Equens, the first pan-European payment processor.

Edenred SA 
Representation of Edenred SA, a French-listed company, and its subsidiary, Edenred Finland Oy, in its acquisition of Nets Oy’s prepaid business in Finland. The deal covered the payment cards and vouchers and related services and agreements. As a result of the acquisition, Edenred, the world leader in prepaid corporate services, obtained a strong foothold in the Finnish market.

Comverse, Inc.
Representation of Comverse, Inc., a world leader in digital services, in its acquisition of the Acision Group, a UK-based secure mobile messaging and engagement services business.

Indian banks
Representation of several Indian banks in connection with optimizing the structure of online remittance transfer services to minimize the compliance burden in respect of US federal and state remittance transfer and money transmission laws and regulations.

Paydirekt
Representation of Paydirekt, a joint venture of a syndicate of banks, regarding the establishment of a payment system similar to PayPal.

Ericsson
Representation of Ericsson in the disposal of Ericsson Internet Payment Exchange AB (IPX), which developed one of the leading mobile payment and messaging platforms in the world, to Gemalto, a world leader in digital security.

Cielo 
Representation of Cielo S.A. (Cielo), Latin America’s leader in electronic payment solutions, in its US$670 million acquisition of Merchant e‑Solutions, Inc. (MeS), a US-based provider of full-service global payment solutions.

Ogone
Representation of Ogone, the leading pan-European provider of online payment services, in its €360 million sale of its share capital to Ingenico, a France-based provider of electronic payment systems.

Sberbank
Representation of Sberbank in the acquisition of a 75 percent interest in the charter capital of Yandex.Money, the Russian online payments service, and the establishment of the associated joint venture arrangements with Yandex NV.

Global financial institution
Advised a leading global financial institution as payment processor and BIN/ICA Sponsor in a number of Sponsorship Agreements.