This area covers the legal framework around banks and payment service providers taking money from individual customers, including processing card and digital payments, direct debits, and other consumer payment methods. A solicitor in this field handles contracts with payment providers, reviews terms for processing and settlement, and manages regulatory obligations under the Payment Services Regulations 2017 and related guidance. They advise on safeguarding customer data, anti-fraud controls, and dispute handling with consumers.
What a solicitor handles in these matters
They deal with the provisions, timeframes and responsibilities in payment arrangements, the interaction with card schemes, settlement cycles, and compliance regimes. They navigate requirements around data security, privacy, and fraud prevention, along with disputes or chargebacks, reporting obligations, and the roles of regulators like the FCA and the PSR. They may also supervise liquidity and risk controls linked to consumer payments.
