Hello and welcome to the LawPay Blog! Below you will find everything you need to know about accepting payments in your firm! As the experts in payment processing for the legal industry, LawPay is your guide to getting paid and staying up to date on industry trends.
Online Payments for Law Firms? You Bet!
By 2017, it is estimated that 95% of non-cash transactions will be paid by credit or debit cards. That leaves just a mere 5% paid through traditional paper check payments. Many attorneys are beginning to recognize if they don’t accept credit cards already, they may need to reconsider in order to facilitate collection of fees in the very near future. Furthermore, by 2016, over 55% of bills will be paid online. Besides the obvious benefits of accepting credit cards such as getting paid, increasing cash flow, and reducing collections, attorneys have even more to gain by incorporating payments as a key part of their website.
Allowing clients to pay on your website means they always know where and how to pay you. Your website is always open for business, and can be conveniently accessed by your clients from any mobile device.
By instructing clients to go to your website for payments, you also gain the ability to communicate and share new information about your firm. For example, if you win a big case, add a new partner or offer new services, current clients will see your updates when they make payments. This new information may remind them of another issue they need you for, or better yet, refer your firm to someone else for new business.
Secure online payments also provide a professional image for your firm. They communicate your firm is modern, organized, and you expect to be paid for your work. Adding payments to a law firm website should be done in a manner that reflects a professional law firm. It would not make sense for example to have a “check out” or “buy now” button for clients looking to pay their invoice. Instead, use “pay invoice” or “make payment” links placed in your client specific areas, upper navigation, or footer information.
You can actually improve payment security and reduce liability for PCI compliance by having clients pay online. If clients are entering their own card information, then your firm is not responsible for processing, storing or maintaining their sensitive information. Potentially, your firm may never actually see a client credit card number again. You only see the benefit of receiving authorized payments and deposits to your bank account.
The solution may be much easier than you think by adding a secure payment page from LawPay. As opposed to regular online shopping cart programs, LawPay is designed specifically for attorneys. With LawPay, your firm receives a custom, secure payment page for your firm that is fully hosted on the LawPay system. No development or programming work is required by your firm. You simply link your secure page to your website, invoices or emails to create a convenient, simple payment process for your clients.