LAWFUEL – Law Firm Technology News – More and more solo and small-firm lawyers are starting to use mobile merchant accounts in order to boost their practice and become available to more potential clients by accepting credit cards.
Recent technology developed for small business owners has made it possible for credit card payments to be processed using only a regular touch-tone phone (or cellular) for a much more affordable monthly cost than a traditional merchant account – and it’s a welcome change for an increasing number of solo and small-firm lawyers across the United States.
Not only does this eliminate numerous billing and collections hassles for lawyers who bill by the hour – accepting credit cards also makes their legal services available to more potential clients.
“Too many lawyers are frustrated by the inherent conflicts of trying to balance the roles of both creditor and advocate”, says RJon Robins, Law Practice Management Advisor and Founder of HowToMakeItRain.com. “It can be very awkward for both lawyer and client to try and focus on substantive legal matters when there’s a big bill outstanding.”
As Robins states in his article at http://www.lawyerbillingtips.com/law_firm_accept_credit_cards.html, many lawyers have discovered how much more collaborative and less stressful the attorney-client relationship can be when law firms simply offer clients the option to make a charge up-front to cover anticipated fees and expenses. They’re finding that clients are surprisingly receptive to the idea and most are able to pay up-front.
Especially now that it’s far more cost-effective for lawyers to offer their clients the option to pay by credit card, using just a regular phone (or PDA) instead of having to invest in costly equipment, more and more solos and home office lawyers are discovering the benefits of letting clients choose their preferred method of payment.
This leaves the attorney able to focus solely on advocating for their clients, without having to worry about how – or if – they’re going to get paid when the project is completed.
Furthermore, accepting credit card payments has been a key factor in reducing accounts receivable, while providing an easy way to collect on any existing unpaid balances owing.
“Giving my clients the option of paying with credit has reduced my receivables and has really augmented my business”, says a family attorney (John M.) from Richmond, Virginia. “The low monthly fee allows me to offer credit payments for my clients.”
The service John is referring to in this case is called “Accept by Phone”, which is the predominant mobile merchant processing service available for lawyers and other solo professionals. The primary advantage of this kind of service is the low monthly cost to use the account – this is due to the way in which payments are processed (using an automated, prompt-based system accessed from a secure 1-800 number), bypassing the majority of fees associated with using a regular merchant account that requires equipment.
As mobile credit card processing becomes an increasingly common payment solution for lawyers that bill for their time, legal representation will become a realistic option for thousands of people who would otherwise be unable to consider hiring a lawyer – and that’s a positive improvement for the entire legal system.
More information about how lawyers can obtain a mobile merchant account is available at http://www.Accept-By-Phone.com/Attorneys.html
Founded in 2005 by Kevin Cross, Accept by Phone provides small business owners and solo professionals (like attorneys) with the ability to process credit card payments affordably using any touch-tone phone. More details about Accept by Phone, Inc are available at http://www.Accept-by-Phone.com
Accept by Phone, Inc
Direct Line: +1-614-441-9608