Product Counsel, Payments

Whatnot · Consumer · New York, NY · Legal

Product Counsel specializing in payments and financial services for a livestream shopping platform. Advises on product design, development, and operations, focusing on regulatory compliance (payments, money transmission, AML, consumer protection, card network rules) and commercial agreements with fintech partners. Requires deep experience in payments and fintech regulation, transactional background, and a solution-oriented approach.

What you'd actually do

  1. Provide strategic and practical legal advice to product, engineering, and business teams on the design and rollout of payment products, merchant services, and financial infrastructure.
  2. Advise on regulatory and compliance requirements, including U.S. and international payment regulations, money transmission, stored value, AML/BSA, consumer protection, and card network rules.
  3. Draft, negotiate, and manage complex commercial agreements with processors, acquiring banks, payment facilitators, and other financial partners.
  4. Partner with Compliance, Risk, and Product Operations to develop scalable policies, playbooks, and controls that support compliant and sustainable growth.
  5. Support expansion of payment products into new jurisdictions, assessing cross-border licensing and regulatory frameworks.

Skills

Required

  • Juris Doctor (J.D.) and active membership in at least one U.S. jurisdiction
  • 8+ years of combined experience in a top law firm and/or in-house legal department
  • 3 years advising on payments, fintech, or financial services matters
  • Deep understanding of payments law and infrastructure, including card network operating rules, money transmission, and merchant acquiring frameworks
  • Proven experience negotiating commercial and technology agreements with financial institutions, processors, or payment partners
  • Strong familiarity with U.S. and international regulatory frameworks, including PSD2, e-money, AML, and consumer finance regulations
  • Ability to work cross-functionally in a fast-paced, product-driven environment
  • Actionable guidance to non-legal stakeholders
  • Excellent communication, drafting, and interpersonal skills
  • Proactive, business-minded approach
  • Comfort with ambiguity

Nice to have

  • CA or NY preferred

What the JD emphasized

  • payments and financial services
  • payments and fintech regulation
  • payments law and infrastructure
  • payments, fintech, or financial services matters
  • payments, fintech, and digital commerce regulation