Negotiating terms related to settlements, rolling reserves, fees and fines can mean the difference between getting paid in a timely manner and not getting paid at all. Whether you are a processor, a merchant, or a re-seller, you’re going to need an agreement that protects your interests.
Payment Processing Agreements
Payment processing is an integral part of Internet gaming operations. Your customers need reliable methods of depositing funds, and you need to be able to pay them out quickly when they win.
As a processor, you’ll want to draft a template agreement that protects you and covers all of your obligations with your acquiring bank. You want to make sure you have enough of a rolling reserve/ security deposit to cover all merchant fees, fines, and chargebacks.
As a merchant, you’ll want to make sure that you’re protected from unscrupulous processors and that you negotiate the best possible terms. You may need a legal opinion or legal analysis to demonstrate that your activities are legal. You may need help avoiding involvement with the wrong processor or re-seller.
As a re-seller, you’re in the middle of processors and merchants. You’ll want to encourage merchants to sign up by presenting them with the best possible agreements, while ensuring that you negotiate favorable terms from the processor.
Representative Work in Payment Processing Agreements
Negotiated numerous processing agreements for a large privately held company
Reviewed due diligence on various processors and advised a large privately held company on risks
Drafted “ironclad” templates to be used as precedents for processors, merchants, and re-sellers
Negotiated a payment processing recovery for a large privately held company
Assisted start-up in finding an appropriate payment processor and reviewed various payment processing agreements
Drafted risk analysis regarding activities of large privately held company to satisfy request from payment processor
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Gaming is one of the most heavily regulated industries in the world. Jack will help you navigate the Canadian landscape and leverage his experience and connections in other jurisdictions.