It’s Not Your (De)fault: Custom Payment Pages for Law Firms

Many law firms are holding tight to traditional forms of payment: like checks, or bags of cash.  The problem with that, of course, is that it’s not so easy for legal clients to make payments via those methods.  It’s much easier for them to use a debit or credit card to pay for legal services. 

Now, some law firms don’t offer electronic payments, because of the processing fees associated with those transactions.  Those transaction fees are right around 3%, on average - but, you’ll probably do more than that in terms of additional volume, because of the speed and ease with which your clients will pay you.  Of course, if you’re still bent out of shape about the processing fees, you can simply raise your rates by 3%, to cover for that. 

 

But, moving to electronic payments also opens up further flexibility, in terms of how you manage your law firm finances.  It makes it possible for you to automate payments.  It also makes it possible for you to utilize custom payment pages, so you can do things like set up payment plans – for legal services, or for collecting on same.  Custom payment pages can also be utilized as part of the collection of various alternative fee agreements, including evergreen retainers.  Both legal-focused providers and general payment vendors are capable of assisting you in building custom payment pages based on your needs. 

 

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If you haven’t moved to electronic payments, it’s time to consider them.  If you have, but haven’t looked at custom payment pages, it’s potentially a way to increase your efficiency and profitability. 

 

We can help you move forward! 

Through a unique partnership between the bar association and Jared Correia's Red Cave Law Firm Consulting, Vermont Bar Association members have access to experienced law practice management consultants at a special discounted rate.

To get started, visit Red Cave's Vermont Bar Association landing page, and start running your law practice like a business.