Legal Merchant Account Services
Law firms are unique from one another. Having specialized payment processing services will help meet the needs of law firms from one lawyer to multi-office firms. Our industry-specific solutions, the legal merchant account solutions can help eliminate many of the problems plaguing lawyers using other law firm credit card processing services.
At Allied Payments, the fields that many of our law firms specialize in include:
- General Practice
- Health Care
- Intellectual Property and Patent
- Real Estate
- Estate Planning
Regardless of the type of law being practiced, the ability for law offices to offer their clients multiple payment options has never been more important. Traditionally, lawyers would accept payment for their legal retainers or services using only cash or check. As times have changed, so have the client demands who are requiring additional lawyer payment processing options. Legal payment processing service can include multiple options in addition to cash or echeck.
The use of law office credit card processing services has grown substantially without any sign of change. Offering multiple payment methods can help reduce the number of accounts receivable. With a merchant account, law offices can set up clients to automatically bill their debit or credit cards on set intervals or at certain account thresholds.
Law Firm Credit Card Processing
Lawyers utilizing a legal merchant account have a number of different options for accepting payment cards. Many offices use a desktop credit card terminal, also known as a point-of-sale system (POS) for credit card authorization of transactions. While these terminals are capable of accepting swiped and keyed-in transactions, the need for them has begun to subside. Some clients will want a physical receipt at the conclusion of their visit for their records, but this is becoming less of the case. These changes have ushered in new types of payment processing equipment.
Some of the new payment methods, including mobile wallet payments or online payments, can provide fast and simple payment options. Many clients now are accustom to making payments online or through their mobile phones. This electronic environment has created a demand for lawyers and law offices to provide paperless records of payments. Using a payment gateway through Allied Payments, law offices will be able to handle the customers' requests in a seamless and efficient manner.
Benefits of a Legal Merchant Account
A law firm will have numerous clients with outstanding bills, retainer credits, and pending payments. Having a system in place to help the legal administrative team manage customer accounts is essential to improve productivity and lower costs. Accepting payments with a credit or debit card will help offices remain organized and reduce many of the mistakes made in billing.
Using an online payment system, law firms can create an account for their clients to manage their invoicing, billing and other correspondence. Managers can view all transactions with robust reporting tools while restricting specific users to certain functions. This can help larger firms manage multiple teams of lawyers and assistants efficiently.
Accepting payments from clients can be cumbersome at times. Law firms that only accept cash or check payments might be forced to wait extended periods of time before payment arrives and clears. Law offices wanting a faster and more regular way to accept payments have begun accepting credit cards. Receiving payments faster and without the hassle of making deposits after the fact, credit cards have quickly taken off as a preferred method of legal payment.
Features of a Legal Payment Gateway
Having a payment processing system for a law office in place can dramatically reduce the time spent accounting for and following up on client bills. Some of the most popular features of Allied Payment's gateway are the following:
- Full PCI Compliance
- Securely Store Payment Card information on File
- Simple Recurring Billing program
- Client Account Management
- Electronic Invoicing<
- Electronic Receipts
- Manage Multiple Lawyer Merchant Accounts Simultaneously
- Integration into 3rd Party Systems
- Chargeback Migitaion and Prevention Tools
- Next Day Funding Options Available
- Simple to Understand Rate Structure
- Wholesale Bank Fees
Start your Law Firm's Legal Payment Processing Today
Lawyers looking for reliable and cost-effective merchant services for their office can speak to Allied Payments about our payment services. Our team of law firm credit card processing professionals can help find the best solution for any size law firm. There is no obligation to receive a free consultation and estimate for our payment services.