The Merits of Payment Processing

by | Mar 5, 2019 | Management, Useful Tech Tips | 0 comments

Attorneys work tirelessly in their pursuit of justice. Requesting payment from a client really is one of the more awkward aspects of the job. Requesting bank routing details or credit card information can prove even more intimidating. In fact, there is some debate amongst attorneys as to whether credit cards should be accepted at law firms. At this point, using credit cards carries a bit of a social stigma. There is nothing dignified about a law firm swiping a credit card yet this payment represents actual dollars while sending out an invoice does not guarantee a single penny in revenue.


Every Law Firm Should Provide Payment Processing Services


Law firms that do not accept credit card payments or compensation through eChecks are at a competitive disadvantage. A growing number of customers are using eCheck payments. Some people refuse to carry cash or checks, instead choosing to put everything on credit. If your law firm does not accept either form of payment, you will undoubtedly miss out on business. It has been legal for law firms to accept credit card payments for services rendered since 1974.


Do not be Intimidated by Payment Processing


Though attorneys are not the most tech-savvy people in the world, setting up and using a credit card payment processing system is not that difficult. Do not shy away from this technology simply because it is somewhat complex. The bottom line is every law firm needs a credit card payment processing system as we gradually transition to a cashless society.

Accept credit cards and you will not have to wait for checks to arrive in the mail then wait even longer for the money to clear and be deposited into your bank account. Credit card payments are transmitted in as little as 12 hours, providing your law firm with much-needed cash. The same is true for eCheck payments made to law firms and other businesses. Once your team learns how to use a payment processing system, you will wonder what took you so long to make this important transition.


Payment Processing and eChecks are the Wave of the Future


Nowadays, people do not think twice about using their bank accounts for withdrawals and deposits. The days of writing checks are long gone. Today, funds are deposited straight into bank accounts. If your law firm is unwilling to accept an eCheck, clients will not hesitate to find a legal practitioner who stays up-to-date with technology and accepts all the latest payment methods. Embrace cutting-edge tech and your law firm will bring in more revenue in the most efficient manner possible.


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