Our client was starting a novel fintech payments company filling a gap in the market. However, his main concern, as a new start-up with limited funding, was to avoid expensive regulatory compliance costs.
We conducted the regulatory analysis and provided the legal opinion that confirmed there was an exemption under the regulation and he would not be considered as acting as merchant acquirer but as a commercial agent instead.
Further, we negotiated the payment agreements with his payments partners and drafted from scratch his own template agreement to be used with prospective clients. The agreement was highly bespoke as it had to comply with strict requirements, lest it put the activity back into the regulatory orbit.
Soon after the agreement was drafted, additional funding was provided by the investors and the first client was secured.
Through our many years of experience in big companies we realised that there is a better way to provide legal services.