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Expanding Your Fintech Payments Business to the U.S. [VIDEO]

With Australia joining the boom in new and innovative Fintechs around the world, our challenger banks, payments businesses and Fintechs have gained global recognition.

While entering into the lucrative U.S market is enticing, it can also be a daunting concept for those without insider knowledge.

K&L Gates’ New York Fintech partner Judie Rinearson, was able to provide us with the information necessary for making the transition, successfully.

Judie’s presentation covered the following topics:

  • How to establish a U.S. banking relationship
  • Licensing – what do you need?
  • How to partner with banks or other licensed entities to offer services
  • How credit, debit and prepaid payment products are regulated
  • How ACH direct debit payments work
  • Using Visa/Mastercard rails in the U.S.
  • How U.S. anti-money laundering laws will impact your business
  • How to navigate the complex web of both federal and state consumer protection laws
  • How U.S. privacy and data security laws compare
  • How P2P payments, e-Wallets and cryptocurrencies are regulated
  • Staying on the right side of the regulators.

Melbourne partners Jim Bulling and Daniel Knight in our Fintech practice in Australia were also able to provide us with a brief update on local developments.

The video is available for download here.

The presentation slides are available for download here.

CPD points: This session will count for one hour / point towards Substantive Law training requirements.

Copyright 2022 K & L GatesNational Law Review, Volume X, Number 92

About this Author

Judith E. Rinearson, KL Gates, federal consumer protection lawyer, anti money laundering attorney

Judith Rinearson is a partner in the firm’s New York and London offices. Ms. Rinearson concentrates her practice in prepaid and emerging payment systems, electronic payments, crypto/virtual currencies, reward programs, ACH and check processing. She has more than 25 years of experience in the financial services industry, including 18 years at American Express’s General Counsel’s Office. Her expertise focuses particularly in the areas of emerging payments and compliance with state and federal consumer protection laws, anti-money laundering laws, state money transmitter...

Daniel Knight, KL Gates, financial services industry lawyer, retail fund managers attorney
Senior Associate

Mr. Knight is a commercial and regulatory lawyer with a focus on the financial services industry. He advises a range of wholesale and retail fund managers, banks, financial advisers, superannuation fund trustees and other financial services firms.

Mr. Knight concentrates on commercial transactions in the industry and on advising clients about Australian licensing, disclosure, and compliance obligations. He regularly advises international fund managers about offering their products in Australia.

Mr. Knight also has...

Daniel Atkin Corporate Attorney K&L Gates Sydney, Australia

Mr. Atkin is a corporate lawyer with a focus on M&A and private equity/venture capital transactions. He has a particular focus on technology driven transactions and transactions in the financial services, mining and energy industries. He advises on the full cycle of investment work, from initial acquisition/investment to bolt on acquisitions, restructures, contracting arrangements and employee incentive plans to ultimate exits.

Mr. Atkin works with domestic and international large corporates, private equity, venture capital and corporate venture funds, and emerging companies....