[Remote] Product Counsel, Payments at WhatNot

New York, New York, United States

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$260,000 – $325,000Compensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

E-commerce, Fintech, MarketplaceIndustries

Requirements

Juris Doctor (J.D.) and active membership in at least one U.S. jurisdiction (CA or NY preferred)
8+ years of combined experience in a top law firm and/or in-house legal department
At least 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
Low ego, growth mindset, and leaning into action and high impact
Must live within commuting distance of New York City, San Francisco, or Los Angeles hubs

Responsibilities

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
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
Draft, negotiate, and manage complex commercial agreements with processors, acquiring banks, payment facilitators, and other financial partners
Partner with Compliance, Risk, and Product Operations to develop scalable policies, playbooks, and controls that support compliant and sustainable growth
Support expansion of payment products into new jurisdictions, assessing cross-border licensing and regulatory frameworks
Collaborate with Business Development on strategic financial partnerships and integrations
Stay current on developments in payments, fintech, and digital commerce regulation, and advise leadership on implications for product strategy
Help build the infrastructure for a world-class legal function that scales with Whatnot’s growth

Skills

Key technologies and capabilities for this role

payments lawfintech regulationproduct counseltransactional lawregulatory compliancemerchant acquiringcard networksfinancial serviceslegal advisorypartnerships

Questions & Answers

Common questions about this position

What is the salary range for the Product Counsel, Payments role?

The salary range is $260K - $325K.

Is this position remote?

Yes, this is a remote position. The team is described as a remote co-located team with hubs in the US, UK, Germany, Ireland, and Poland.

What skills and experience are required for this role?

The role requires deep experience in payments and fintech regulation, a strong transactional background, and a pragmatic, solution-oriented approach. Expertise in U.S. and international payment regulations, money transmission, stored value, AML/BSA, consumer protection, and card network rules is essential.

What is the company culture like at Whatnot?

Whatnot emphasizes innovation, community, and values-driven work as a remote co-located team. They foster a forward-thinking environment for bold problem solvers building the future of online marketplaces.

What makes a strong candidate for this Product Counsel position?

A strong candidate will have deep payments and fintech regulatory experience, strong transactional skills for drafting and negotiating complex agreements, and a pragmatic approach to enable innovation while navigating regulations.

WhatNot

Online marketplace for authentic collectibles

About WhatNot

Whatnot.com operates as an online marketplace dedicated to collectibles, particularly focusing on items like Funkos and FiGPiNs. The platform ensures that every collectible listed is 100% authentic through a rigorous verification process that includes hand authentication, providing trust and security for both buyers and sellers. It caters to collectors and enthusiasts who seek a reliable space to buy and sell rare and exclusive items from popular franchises such as Marvel Comics and Star Wars. Whatnot.com distinguishes itself from competitors by charging low fees on sales and offering seller protection, which guarantees prompt and secure payments. The company's goal is to create a trusted environment for the growing community of collectible enthusiasts, facilitating safe and easy transactions for unique items.

Marina del Rey, CaliforniaHeadquarters

2019Year Founded

$728.7MTotal Funding

SERIES_ECompany Stage

Consumer Software, Consumer GoodsIndustries

501-1,000Employees

Benefits

Competitive base salary and stock options

Unlimited Vacation Policy and No Meeting Holidays

Health Insurance options including Medical, Dental, Vision, Life, Short term disability & Long term Disability

Work From Home Support

Up to $500 monthly to spend within Whatnot App

Care benefits

Risks

Increased competition from TikTok Shop may impact Whatnot's market share.

The collectibles market's volatility could affect Whatnot's sales and inventory.

Expansion into new categories may dilute Whatnot's specialized brand identity.

Differentiation

Whatnot offers a unique marketplace for 100% authenticated collectible items.

The platform integrates live shopping with entertainment, enhancing user engagement.

Whatnot's partnerships with major franchises like Marvel boost its market appeal.

Upsides

Whatnot's $265M funding round supports expansion and new product categories.

The platform's collaboration with PSA enhances trust through integrated authentication services.

Rising interest in live shopping among younger demographics drives Whatnot's growth.

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