Top Benefits of Switching to Electronic Payment Processing
Credit card and ACH payments are the primary methods of payment for 86% of Americans. If your firm doesn’t accept electronic payments, you could miss out on significant revenue. Yet some firms still hesitate, citing concerns about security, trust accounting requirements, and fees as reasons to stick with traditional payment options.
But when you deploy the right tools, legal payments can be as simple as clicking a link.
The Challenge: Secure and Compliant Billing Practices
Concerns about credit card and ACH payments stem from long-standing professional responsibilities. Protecting your clients’ personal and financial information is part of your ethical obligation as an attorney, as is appropriately managing client trust funds. That means that any payment options must:
● Provide robust security for clients’ personal and financial information
● Allow for compliant trust accounting practices for mixed payments, retainers, chargebacks, and processing fees
Many lawyers end up spending a lot of time on non-billable tasks, especially accounting and billing. Complex, time-consuming processes of the past can be a hassle. but today’s software allows law firms to quickly and securely handle credit card and ACH payments.
What’s more, not accepting online payments can create a negative perception among your clients. Because clients pay for everything else by credit card, having to pay by cash or check can harm the client experience.
The Solution: Tabs3Pay
Law firm billing software that integrates with your practice management software, such as Tabs3Pay, opens up new horizons for payments in the legal industry. It helps you get paid faster and improves your firm’s cash flow.
With transparent fees and no monthly fee, Tabs3Pay makes accepting credit card payments and ACH payments easy. You’ll benefit from:
● Compliant trust accounting workflows
● Secure client information
● Faster payments
● Increased client convenience
Support your trust accounting responsibilities
Tabs3 Software shields attorneys from potential liability issues with its compliant trust accounting workflows. To support your law firm’s unique trust accounting responsibilities, Tabs3Pay ensures that deposits go directly into clients’ trust accounts, while processing fees are withdrawn only from your firm’s operating account.
Tabs3Pay gives you the option of surcharging clients to cover processing fees. This allows your firm to be profitable while providing the convenience of paying by credit card.
Keep client information secure at all times
Tabs3Pay adheres to PCI compliance standards to keep clients’ information confidential. Tabs3 also prioritizes client information security by never storing sensitive cardholder information.
Make payments quickly and easily
Clients can make payments simply by clicking an email link, increasing the likelihood they will pay their bill immediately, rather than putting it off until a more convenient time. Tabs3Pay allows you to accept online payments 24 hours a day, so clients can make payments anytime it is convenient.
Moreover, credit card payments are deposited into your firm’s bank account more quickly and require less administrative processing time than checks and cash.
Increased client convenience
By improving clients’ payment experience, your firm benefits, too. Clients are more likely to trust a law firm that prioritizes their needs and makes their lives easier rather than asking them to jump through hoops.
Start Accepting Credit Card Payments and ACH Payments in One Hour
Accepting online payments doesn’t have to put your law firm’s ethical standing or reputation at risk. Rather, it’s a smart way to improve client experience and increase your cash flow. To learn more about how Tabs3 Software and Tabs3Pay can revolutionize billing and payment processing at your firm, visit Tabs3.com.
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