Tier 1 Quality Law Firm Credit Card Processing For Online & Retail Payments
For a law firm, it is vital to have well-organized and optimized processes to efficiently deal with typical day-to-day tasks. With a law firm credit card processing solution, you can experience seamless payment processing while accepting credit and debit card payments. This will allow your law firm’s clients to easily make payments using your credit card processing solution.
A reliable law office Point of Sale (POS) system can help your law business experience a boost in back-end procedures. Payments can be easily retrieved from your clients without any headache, helping you focus on legal practices and cases. With law firm credit card processing from QuadraPay, you can enjoy the following beneficial features:
Key Features of Law Office Credit Card Processing
- Easy Transaction Record Maintenance: Keep track of all historical records of clients. All documents can be easily retrieved from anywhere at any time to obtain complete case history and client payment records without going through the mess of paper records.
- Regular Payments: Set up recurring billing so that your clients can quickly pay legal procedure fees without any issues. This will also help your law firm receive payments on time as reminders will be sent to customers via text SMS or email.
- Fast Receivables: With online payment processing, a law firm can receive money instantly or within 24 hours.
- Elimination of Paper Checks: Professionals in the legal domain generally receive payment by physical check. With advancements in technology, paper checks can now be processed electronically, enabling faster processing and settlement of funds.
- Security Adherence: Our solutions are fully PCI-compliant and follow the latest PCI-DSS standards. The solution is layered with an additional security protocol known as 3D Secure (optional), which helps prevent online credit/debit card fraud.
- Reduced Paperwork: Less paperwork means no more dealing with physical invoices or receipts. Clients receive invoice emails before paying for your services. We offer pay-by-email and payment invoice link generation solutions for law firms.
Required Documents for Attorney Credit Card Processing
– A detailed business plan
– Business bank account details within the same region
– Expected turnover
– Working website with terms and conditions
– A detailed description of your law firm’s services
– ID and address proof for all directors
– Bank statements for the recent three months
– Processing history, if any
Top Payment Methods for Law Firms and Attorneys
- Credit Card Processing: Attorneys can electronically accept payments via credit/debit cards and prepaid cards. This is the most popular method among clients.
- POS: POS systems enable face-to-face payments in your office or legal firm.
- Mobile Payment Solution: This allows customers to pay via their phones.
- ACH eCheck Processing: eChecks help lawyers process checks electronically through the ACH network, eliminating the need for physical checks.
- Virtual Terminal: The Virtual Terminal or MOTO (Mail Order/Telephone Order) helps lawyers accept payments over phone calls. They manually enter the required card information into the terminal to process the payment.
FAQ: Lawyer Credit Card Processing
Why should QuadraPay be your choice for attorney and legal merchant services?
Law firms frequently need credit card processing and eCheck solutions. Most of the payments they receive are through cards or eChecks. We have processed many applications for merchants from various industries and nations, and we understand their needs. We help them accept payments that comply with all rules and regulations. Our partnered processors from the USA, EU, and other countries provide various solutions for your law firm.
Why do attorneys and law firms need merchant accounts?
Attorneys have the right to expand their legal services and sell their valuable advice to clients seeking solutions to their cases. In the past, it could take a month or more to get paid for services rendered. However, technology in the finance sector has revolutionized this scenario. Cash payments have been largely replaced with credit/debit cards, and electronic checks have replaced physical checks.
How can law firms benefit from merchant services?
QuadraPay has the right law firm credit card processing solution for legal firms practicing in any specialization. Some effective practices for which you can use our solution include:
– Consumer Finance Claims
– Personal Injury Claims
– Employment Law
– Commercial Litigation
– PPI Claims
– Family Law
– Worker’s Compensation
What is the MCC code for attorney merchant services?
The relevant MCC (Merchant Category Code) for law firms is:
MCC 8111 – Legal Services and Attorneys
QuadraPay has online payment processing partners available in the USA, Canada, and EU that provide attorney payment processing under this MCC code.
How to acquire credit card processing for attorneys?
Acquiring a credit card processing solution for a law firm requires similar steps as most other industries. However, law firm transaction volumes are often larger, and service delivery timeframes may be extended compared to regular e-commerce models. This elevates credit risk.
For example, consider a law firm named XYZ Law Firm. A client visits this organization for assistance with a legal matter. Lawyers evaluate the situation and make an offer to the client. The officer asks the client to make a payment of $10,000. While the law firm’s service aims to help the client get justice, the outcome depends on the judge’s decision. If the judgment doesn’t meet the client’s expectations and the $10,000 transaction was processed via credit card, the client may raise a dispute.
The main challenge lies in the high ticket size and the longer delivery period of the service. There are specialized credit card processing companies that work primarily with law firms and advocates. QuadraPay has access to processing institutions comfortable with evaluating applications from professional law firms in the US, Canada, UK, European Union, and India.
By using QuadraPay’s services, law firms can streamline their payment processes, improve cash flow, and focus on providing excellent legal services to their clients.
