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The pandemic has made it more essential than ever before for law firms to accept electronicpayments. Clients who now pay everything else online have no appetite for lawyers who require paper payments. Plus, law firms that accept e-payments get paid faster and increase their collections, studies suggest.
MyCase also announced two new features related to accepting payments through LawPay, the electronicpayments platform that is owned by MyCase’s parent company AffiniPay Reconciliation of LawPay payments. The ability to recharge cards on file.
When it comes to payments, is your firm giving clients the flexibility they desire and deserve? Electronicpayments are essential if you want to provide an excellent client experience while increasing your firm’s efficiency and revenue. What are electronicpayments? Electronicpayments can take many forms.
Thankfully, there’s a better way your firm can accept payments, and that is through an electronicpayment system. Electronicpayment is essential for law firms who want to provide the best experience to their clients and wish to increase the firm’s revenue. What are ElectronicPayments?
Legal industry is undergoing a digital transformation, within which electronicpayment processing is a driving concern. Key Considerations for Choosing a Law Firm ElectronicPayment Processor The choice of the electronicpayment processor is one of the key decisions for your law firm.
Law firms are prime targets for the theft of sensitive client information. Financial data, personal data, trade secrets and other business information are of high value to hackers. In addition to bill payments, we are seeing significant growth in automated payments adoption by law firms, and it’s often client-driven.
Solos also are more likely to use online solutions for video conferencing, electronicpayments, website design, e-signatures, and data storage. There is much more information in the full report, so be sure to download it and check it out. Those are quick takeaways from the report.
You might find this information shocking coming from the company that created the first online legal billing and law practice management software… . However, industry-agnostic calendaring and contact management platforms aren’t designed to organize all that information by legal matter. . Electronicpayments .
As the most comprehensive analysis of the legal industry, the Legal Trends Report consolidates vital information on law firm performance while illuminating the influential factors driving changes in legal practice. For lawyers in mid-sized firms, we provide unique insights with our annual Legal Trends for Mid-Sized Law Firms report.
Flex Appeal: Payment Options in Abacus Payment Exchange. Legal consumers, like all consumers, prefer to pay via electronic means. They also appreciate flexibility in electronicpayment methods. APX allows law firms to offer that flexibility via a number of different payment applications.
” Integrated Payments. While Clio users already could accept electronicpayments through third-party companies such as LawPay, the new Clio Payments is a native solution fully integrated into the Clio platform, which makes the process of accepting and tracking payments far more seamless.
Accept credit cards and online payments. According to our 2019 Legal Trends Report , law firms that accept electronicpayments get paid faster. In fact, 57% of electronicpayments get paid within the same day they are billed and 85% get paid within a week. This post is provided for informational purposes only.
MyCase also announced two new features related to accepting payments through LawPay, the electronicpayments platform that is owned by MyCase’s parent company AffiniPay Reconciliation of LawPay payments. The ability to recharge cards on file.
With LawPay having recently announced a new product tier, LawLawPay Pro, that enhances the standard LawPay electronicpayments platform with the addition of legal billing features, LawPay has now also announced a partnership with QuickBooks Online.
Consider introducing the change a month or two in advance (along with plenty of reminders), so your clients know what to expect when the system goes live. Make sure your fee and billing information is clear and easily accessible When it comes to client billing, surprises are the enemy.
In the latest episode of our video series How It Works , we learn about LawPay , the electronicpayments solution developed specifically to help law firms streamline billings and collections by providing a simple, secure way for legal clients to pay their bills online. How to set up scheduled payments for clients.
Subscribers to Clio Manage track billable events, send invoices, receive electronicpayments, and track trust account activities. More to Come for Clio Accounting As released this month, Clio Accounting is a strong step forward towards Clio users having a “single source of truth” for client, matter, and financial information.
An eCheck—also known as an electronic check—is a digital version of a paper check. It contains all the same information as a traditional check, such as the account number and payment amount. The difference is that the data is captured and transmitted electronically from a bank account to the merchant’s bank account.
With this in mind, you may be wondering if offering payment options like ACH payments could benefit your business, and your clients. As a secure electronicpayment method, the ability to accept ACH payments quickly and easily allows you to give your clients a seamless payment experience while helping your law firm get paid faster.
Users can create sites by filling out their information on a form and selecting a design. Once launched, the sites connect to other tools within Clio to enable online appointment scheduling, client intake, electronicpayments and Google Analytics. Enhancements to Payments and Billing.
It has been a notable year for the practice management company MyCase , one in which it made four notable acquisitions of other practice management products, and then itself was acquired by AffiniPay , the parent company of the electronicpayments platform LawPay.
Today, in its first international expansion of the technology, Clio released Clio Payments to the Canadian legal market, enabling its customers there to offer their clients electronicpayment options, including flexible payment schedules. The client can store credit card information to simplify future payments.
Use tools like recurring invoices and TimeSolvPay for billing saved credit card and/or bank account information for ongoing retainer fees. Billing and invoicing on a schedule, or via recurring invoices, means bills go out timely, improving the likelihood of timely payments.
Although it might feel comfortable to stick with the paper check or walk-in-to-pay system, there are numerous benefits to accepting e-payments. What Are E-Payments? Electronicpayments are payments your clients make to your firm through your website or online platform. These are the kinds of payments you accept.
Solos also are more likely to use online solutions for video conferencing, electronicpayments, website design, e-signatures, and data storage. There is much more information in the full report, so be sure to download it and check it out. Those are quick takeaways from the report.
Invoice creation and sharing features: The ability to create detailed, clear invoices for various billing arrangements (such as individual and split bills) and securely send them electronically. Payment processing features: The ability to offer flexible payment options and accept online payments.
” Integrated Payments. While Clio users already could accept electronicpayments through third-party companies such as LawPay, the new Clio Payments is a native solution fully integrated into the Clio platform, which makes the process of accepting and tracking payments far more seamless.
Using a digital wallet, users can effortlessly complete purchases by transmitting payment data from a digital device to a point of sale via magnetic signals, bluetooth or WiFi. Digital wallets securely store a user’s paymentinformation and passwords for various payment methods. How do digital wallets work?
This reduces the risk of late payments or no payment at all. These cards are secure and ensure the confidentiality of clients’ information. Cons For processing debit card payments, law firms may have to pay transaction fees. Law firms may need to invest in technology to accept payments through credit cards.
Moreover, having a clear understanding of your firm’s financial health allows you to make informed decisions and navigate economic uncertainties with confidence. To ensure the confidentiality and integrity of your firm’s financial information.
With LawPay having recently announced a new product tier, LawLawPay Pro, that enhances the standard LawPay electronicpayments platform with the addition of legal billing features, LawPay has now also announced a partnership with QuickBooks Online.
In fact, firms that collect 75% or more of their payments online collect half of their bills within three days of issuing them—five times faster than firms that don’t collect electronicpayments at all. Having a link available to your clients alongside their bill can dramatically improve payment time.
. – Dan Lear and Bob Ambrogi, series editors Dan Lear, Head of Marketing and Partnerships at Gravity Legal Dan Lear is head of marketing and partnerships at Gravity Legal, an electronicpayments and money management firm built specifically for lawyers and law firms. Sharing information accelerates innovation.
For the first time, law firms have access to technology that simulates cognitive functions for interpreting, summarizing, and creating new perspectives and information with unprecedented speed. This is five times faster than a firm that doesn’t collect electronicpayments at all.
. – Dan Lear and Bob Ambrogi, series editors Dan Lear, Head of Marketing and Partnerships at Gravity Legal Dan Lear is head of marketing and partnerships at Gravity Legal, an electronicpayments and money management firm built specifically for lawyers and law firms. Sharing information accelerates innovation.
According to our Legal Trend Report , this can be attributed to some crucial shortcomings in user experience: only 30% of potential clients are able to find the information they need to retain legal services and only 10% are able to find cost information. Whats causing this gap? Seems daunting?
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