Image: Heena A. Merchant

Heena A. Merchant

Of Counsel, Corporate Department


Phone: 1(972) 936-7460
Fax: 1(972) 936-7360


Heena Merchant is Of Counsel in Paul Hastings' Global Fintech and Payments Group and is based in the firm's Dallas office. She represents a broad range of financial services clients, including banks, traditional depository institutions, non-bank financial institutions, Fintech companies, payment processors, trusted platform companies, payment networks, digital asset platforms, and private equity and investment firms investing in Fintech companies.

Ms. Merchant has deep expertise in federal and state financial services laws, money-laundering laws, payments regulatory laws, the Bank Secrecy Act, Regulation E, federal and state money transmission laws, federal and state gift card laws, consumer protection laws, card network and ACH rules, and other state and federal statutes related to payments. She regularly advises traditional financial services and FinTech clients on issues such as ongoing regulatory compliance, assisting clients in all aspects of product development, including structuring of such products with regulatory considerations in mind, and commercialization of payments product offerings. Ms. Merchant also regularly advises clients in the development of digital asset products with regulatory considerations in mind, and frequently assists technology clients in developing strategic partnerships with financial institutions and payment providers, including drafting and negotiating commercial agreements with such partners, and structuring and negotiating large commercial transactions between parties in the global payments space. She also regularly assists private equity, investment and venture fund clients in FinTech acquisitions and capital-raising activities.

Ms. Merchant has deep expertise in financial services licensing and registration, frequently assisting clients in the license application process, changes of control, and related regulatory filing and inquiries. She frequently represents financial services clients in inquiries and matters before federal and state regulatory agencies.


  • Cornell University, J.D., 2012
  • Vanderbilt University, B.A. in Psychology and Political Science (cum laude), 2008


  • Advising leading payment card networks on a broad range of regulatory issues, structuring and negotiating new product offerings on behalf of card networks, and assisting in regulatory diligence in connection with acquisitions;
  • Advising leading private equity firms in the acquisition and sale of payments and financial services companies;
  • Advising large banks, Fintechs and trusted platform companies on a broad range of regulatory issues related to product development and acquisitions of payments and technology companies;
  • Advising leading digital asset trading platforms in obtaining and maintaining federal and state licenses, as well as commercialization of new products;
  • Assisting in the structuring, negotiating and launch of various rewards and loyalty programs offered by banks and large Fintech companies;
  • Assisting leading property management software companies and travel provider platforms on production development, contract negotiations and ongoing regulatory compliance; and
  • Assisting Fintechs on federal and state financial services licensing matters, including obtaining licensure, responding to regulatory inquiries and conducting regulatory due diligence in connection with transactions.


Practice Areas


Bank Regulatory

Fintech and Payments

Emerging Growth Companies

Financial Services

Financial Services Litigation

Fintech and Payments

Internet of Things









Texas Bar

California Bar

Georgia Bar


Cornell Law School, J.D. 2012

Vanderbilt University, B.A. 2008

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