Tag Archives: Payment Systems

Reed Smith handles DBS Bank – Google payments processing partnership

Reed Smith successfully represented DBS, Southeast Asia’s largest bank,  in structuring and closing a strategic business partnership with Google. The arrangement will see Google make DBS payment systems available on Google’s G Pay platform, which will allow DBS customers using that platform to send and receive funds, and pay merchants. The transaction was led by a Reed … Continue Reading

Peer-to-Peer Lenders May Need to Follow State-by-State Usury Laws

A recent court ruling suggests that FinTech lenders may need to follow state usury laws, depending on their business model. On August 12, 2015, the U.S. Court of Appeals for the Second Circuit confirmed that LendingClub cannot bypass state usury laws. For example, LendingClub Corp., and other peer-to-peer lending services have been making a loan … Continue Reading

CFPB’s Vision for FinTech Payment Systems

On July 9, 2015, the Consumer Financial Protection Bureau continued its focus on payment processing and joined the Federal Reserve’s efforts to develop faster and more secure payment systems by releasing its “Vision of Consumer Protection in New Faster Payment Systems”. The CFPB recognized the added benefits to consumers that evolving payment technology provides, including: … Continue Reading