SCHEME COMPLIANCE & OPERATIONAL READINESS
Payment businesses are required to comply with card scheme rules and operational standards set by networks such as Visa and Mastercard.
Failure to comply can result in:
- Financial penalties
- Scheme remediation programmes
- Increased scrutiny or restrictions on processing
MK Legal Consultancy supports clients in understanding, implementing, and maintaining compliance with scheme requirements.
Our approach focuses not only on interpreting scheme rules, but on ensuring that these requirements are effectively implemented within client operations to avoid penalties and disruption to processing.
Our support
Scheme rule interpretation and applicability
We analyse applicable scheme rules and determine how they apply to your specific business model and transaction flows. This includes translating complex scheme requirements into clear, actionable obligations. Our approach ensures that rule interpretation is aligned with both scheme expectations and your operational reality.
PF (Payment Facilitator) certification support
We support clients through the PF certification process, including readiness assessments and documentation preparation. This involves aligning your operational model with scheme requirements and addressing any gaps prior to submission. We also provide guidance throughout engagement with acquiring banks and scheme stakeholders.
Operationalisation of scheme requirements
We assist in embedding scheme requirements into day-to-day operations, systems, and internal processes. This ensures that compliance is not only documented, but consistently executed across your business. Our focus is on making scheme compliance sustainable and operationally effective.
Transaction data compliance (including PFID/SMID considerations)
We review transaction data structures to ensure compliance with scheme requirements, including correct use of PFID, SMID, and related identifiers. This includes identifying gaps in data capture, formatting, and transmission. Proper data compliance reduces the risk of scheme penalties and improves transaction transparency.
Audit readiness and remediation support
Audit readiness and remediation support
We prepare clients for scheme audits by assessing current compliance levels and identifying areas requiring remediation. Where gaps are identified, we provide structured remediation plans and support implementation. Our goal is to ensure clients approach audits with confidence and clarity.
Ongoing scheme compliance monitoring
Audit readiness and remediation support
We provide ongoing oversight to ensure continued alignment with evolving scheme requirements. This includes periodic reviews, updates, and proactive identification of emerging risks. Continuous monitoring helps prevent non-compliance and reduces the likelihood of penalties or operational disruption.