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 so that you can efficiently deal with the typical day-to-day tasks. With the help of a law firm credit card processing solution, you can experience seamless payment processing while accepting credit and debit card payments for a law firm. This will allow your law business clients to easily accept payments with law firm’s credit card processing solution.
A reliable law office POS (point of sale) system can help your law business experience a boost in your office back-end procedures. The payments can be easily retrieved from your clients without any headache, which helps you deal with the legal practices on the cases easily. With law firm credit card processing from Quadrapay, you can enjoy some of the beneficial features:
Key Features Of Law Office Credit Card Processing
- Maintain Transaction Records Easily. Keep track of all the historical records of the clients. All such documents can be easily retrieved from anywhere at any point in time to obtain complete case history and client’s payment records without going through the mess of paper records.
- Regular Payments. The payment can be set as a recurring billing so that your clients can quickly pay the legal procedure fees without any issues. This will also help your law firm get payments within the time as the same reminder will be sent to the customer via a text SMS or email reminder.
- Fast Receivables: With online payment processing, a Law Firm can receive money instantly or within 24 hrs.
- Get Rid Of The Paper Check: Professionals in the legal domain generally receive payment by physical cheque. But with the advancement in technology, a paper check can now be converted into a check which helps in the fast 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 another security protocol known as 3D secure(Optional), which helps you prevent online credit/debit card fraud.
- Less Paperwork: Less paperwork means no more dealing with physical invoices or receipts. The clients get the invoice email before they pay you for your service. We have pay by email or payment invoice link generation solution for law firms.
What Are The Required Documents For Getting An Attorney Credit Card Processing
- A Detailed Business plan.
- Business bank account details that should be within the same region.
- Expected turnover.
- Working website and its terms and conditions.
- A detailed description of your law firm services.
- ID and address proof for all directors.
- Bank statements for the recent three months.
- Processing history, if any.
Various Payment Modes For Law Firms And Attorneys
- Credit Card Processing: With a credit card processing solution, attorneys can electronically accept payments via credit/debit card and even prepaid cards. It is the most popular method among clients these days.
POS: POS can help you take payments face-to-face in your office or legal firm.
- Mobile Payment solution: This can help your customer pay you via their phone.
- Ach Echeck Processing: The eCheck helps the lawyer or attorneys get rid of physical checks. Now no more physical checks. Process your check through the ACH network.
- Virtual Terminal: The Virtual Terminal or MOTO helps the lawyer accept payment over the phone call. They manually filled the required card information over the terminal and processed the payment.
FAQ Lawyer Credit Card Processing
Why Quadrapay Should Be Your Choice For Attorney And Legal Merchant Services
Law firms need credit card processing and eCheck solutions most. Most of the payments they receive are through card or eCheck. We have processed many applications for merchants from various industries and nations, and we know what they want. We help them accept payments that are compliant with all the rules and regulations. Our partnered processors from the USA, EU and other countries help you with the various solutions for your law firm.
Why do Attorneys And Law Firms Need Merchant accounts?
Attorneys also have the right to expand their legal services and sell their valuable advice to the clients seeking a solution to their case. A long time back, it took a month or more to get paid for the service they offered, but the technology in the finance sector revolutionized the scenario. Cash payments are replaced with credit/debit cards; checks/ACH replace physical checks.
How Can Take Benefit With Merchant Services For Lawyers?
A legal firm practicing in any specialization, Quadrapay has the right law firm credit card processing solution for you. Some of the effective practices for which you can use our solution are as follows:
- 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?
Being a lawyer, you invest your time and effort in solving your client’s case. When it’s time to get your paychecks, it gets delayed because the payments are made through cash. It can take 40 days, or you might also have to wait for your receivables for several months. We know you do not want to wait for ages to receive your payment no one wants. QuadraPay has online payment processing partners available in the USA, Canada And EU that provide attorney payment processing under related MCC codes.
Relevant MCC Code For Law Firms.
MCC 8111 – Legal Services and Attorneys
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. Law firm transaction volume is more significant, and the service delivery time frames may be extended than the regular e-commerce models. This elevates credit risk.
Let us understand by looking at an example.
Suppose there is a law firm by the name of the xyz law firm. A client visits this organization to get assistance in a legal matter. Lawyers evaluate the situation and then make an offer to the client. The officer asks the client to make a payment of 10000 US dollars. The law firm’s service is an effort to help the client get justice; however, it depends on the judge to decide the outcome. If the judgment is not as per the expectation of the client and the transaction of $10,000 has happened through the credit card processing method, the client may raise a dispute.
So majorly, the challenge is because of the high ticket size and a longer delivery period of the service.
What is the solution?
There are specialized Credit Card processing companies that work majorly with law firms and advocates. Fortunately, QuadraPay has access to a few of these processing institutions that would be comfortable evaluating applications of professional law firms in the US and European Union, and India.