Payments and Fintech Disputes

Rome LLP represents merchants, sales agents, ISOs, ISVs, payment facilitators (PayFacs), acquiring banks, and other payments companies in pre-litigation matters, arbitration, litigation, and related advisory work.

The firm has recovered tens of millions of dollars in wrongfully withheld reserves and settlement funds for merchants and payment platforms, including the coordinated recovery of more than $15 million in platform reserves and merchant funds from a PayFac.

Rome LLP also represents ISOs and sales agents in disputes over residuals, commissions, portfolio rights, termination, and unpaid compensation. Representative matters include a $16 million jury verdict in an ISO residual dispute involving a merchant with approximately $300 million in annual processing volume.

The firm represents acquiring banks in disputes arising from their relationships with merchants, ISOs, and other payments companies. Those matters may involve contractual defaults, fraud, misuse of funds, indemnity obligations, collateral, and recovery of losses.

Rome LLP drafts and negotiates the agreements that govern payment programs, from sponsor-bank and ISO relationships through merchant terms, portfolio transfers, and deconversions. The firm also represents payments clients in regulatory inquiries, investigations, and enforcement matters.

Payment disputes often involve several agreements and card-brand rules. Resolving them requires determining who made the decision, who controlled the account or funds, and whether the governing agreement or rule authorized it.