Should Your Law Firm Accept Online Payments?
October 21, 2014
Gone are the days when online payments were something to fear. It’s time for your firm to embrace the efficiency of accepting payment online.
What are the benefits of online payments?
- Quick, easy payments. Unlike checks through the mail, online payments arrive more or less immediately. The simplicity of e-payment options means that clients can pay their balance from simply anywhere they have Internet access.
- Centralized record-keeping. When your firm begins using an online payment program, all payment-related records are automatically stored in one place. Your firm doesn’t have to fear misplacing a paper record or incorrectly recording a payment. What’s more, online payments make it easier than ever to track missing and late payments. If your firm has easy access to this information, it can more efficiently follow up with clients who have not paid their balances in full.
- Simplified fee processing. To accept credit card payments, law firms must take care to account for all fees in accordance with the American Bar Association’s directions. Many electronic billing options streamline this process by automatically handling fees.
When implementing an online payments system, make sure your firm is familiar with applicable laws in the state or states in which you practice.
What programs serve law firms’ needs?
Follow the links to learn more about each of these potential payment options geared toward law firms.
This program has been recommended by over 80 state and local bar associations, and provides law firms with a safe, online method of accepting credit card payments.
LawCharge simplifies the process of dealing with credit card fees while remaining in compliance with the ABA.
- PayPros Legal
Your firm can send invoices electronically using PayPros Legal. The program also provides QwikPAY, a mobile payments solution.
Has your firm experimented with other methods of accepting online payment? What have your experiences been?
Accepting online payments is one step toward building a tech-savvy law firm. Want to know what else your office can do? Click to read our 6 Steps to Better Document Management White Paper!
Photo Credit: jarmoluk via PixaBay