EMV (EuroPay-MasterCard-Visa) is commonly known as “pin and chip”. The primary benefit of EMV is to help retail businesses reduce fraud by detecting counterfeit credit cards. As of October 2015, all card processing banks are required to support EMV technology.
As a law firm you are not required to process EMV. This is due to the fact that most firms are not at risk for accepting counterfeit credit cards, and do not process payments through a retail point of sale system. Be that as it may, it is important for your firm to maintain PCI compliance. If you have any questions about PCI Compliance, our support team is available to assist you.
The LawPay solution is designed to correctly separate earned and unearned fees to avoid commingling funds when accepting credit card payments. More importantly, LawPay contractually protects your client funds by restricting the ability of any third-party from debiting monies from a Trust or IOLTA account. LawPay works with over 90 bar associations across the country, including the American Bar Association, to ensure our program is up-to-date and in compliance. Learn More