Credit cards have officially become the preferred way to pay, with people able to make purchases practically wherever they are thanks to smartphones and laptops. While this has been great news for most industries, some lawyers and other professionals are still hesitant to jump on the bandwagon. In this article, we'll dispel four common misconceptions about accepting credit cards online as payment for legal services.

"Credit cards are too expensive."
If you accept credit cards as payment for your services, you'll have to deal with credit card processing fees. Why? Simply put, there's a cost to move money in our financial system. However, more and more professionals accept that this is just one cost of running a modern business today. After all, wouldn't you rather get paid instantly via credit cards instead of waiting for a check to arrive several days later-or worse yet, not at all? The impact of faster payments and increased cash flow offsets late payments and the processing fees associated with credit cards.

Lawyers who have made the switch to online credit card payments have told us that the time they save is much more valuable than the fees they pay. Plus, the ability to go paperless will save you both time and money.

"Online payments will only make my practice more complicated."
You might think adding another way for your firm to get paid will come with a learning curve. The truth is, a good online payment solution will actually make running your practice easier than before! By accepting online payments, you'll be able to quickly send your bills via email and your clients will be able to pay you instantly-no more waiting for checks to arrive in the mail. After using LawPay, Cheryl Ischy, a legal assistant at the Law Offices of Claude E. Decloux, told us, "I sent out bills first thing in the morning and over half were paid by lunch! LawPay made my day!"

Additionally, while all online payment solutions charge a fee to process payments, the best payment solutions will only debit these fees at the beginning of the following month (rather than on a weekly or even daily basis.) This way, your deposit reports will show 100 percent of the payments you received, making reconciliation less complicated.

"Online credit card payments are unsafe."
As a lawyer, you're already well aware of how important it is to keep your clients' sensitive personal information safe. Naturally, when you accept credit cards as payments, you'll need to protect their card data, as well. However, keeping such data stored in your office, even on your work computer, can create a security risk.

Thankfully, online payment solutions can keep this data secure so you don't have to. Look for an online payment solution that's Payment Card Industry (PCI) Level 1 certified-the highest designation possible. These payment solutions are well-equipped to protect payment data and will employ sophisticated security measures that your firm would otherwise not have access to. By letting your clients pay you through a secure online payment solution, you can take much of the liability of data security off your plate and place it in the hands of trusted security professionals. You'll not only get a payment processor, but a payment data security specialist,all in one!

"I can't accept credit cards and maintain IOLTA compliance."
According to Rule 1.15 of the ABA Model Rules of Professional Conduct, lawyers must be careful to ensure earned funds are deposited into an operating account, while a client's funds go to a trust account. With traditional forms of payment, it's simply a matter of depositing the funds in the right place, but how does this work when using a credit card?

This is how an online payment solution designed specifically for legal professionals can make credit card payments both easy and ethical. For example, when payments are made through LawPay, your earned and unearned fees are always separated and deposited into their proper accounts. You can also rest easy knowing that LawPay will never allow any third-party debiting to occur from your IOLTA account.

These days, accepting online credit card payments is an essential part of running a modern law firm. Thankfully, it's not only easier than ever to offer this option, but the benefits are overwhelming-simpler workflows, increased cash flow, better productivity in your firm, and best of all, happier clients who pay on-time and more frequently. What more could a lawyer ask for?

LawPay is the #1 online payment solution for the legal industry. Your earned and unearned fees are always correctly separated, while your IOLTA account is protected from third party debiting, no matter what. Backed by the highest standard in internet security, it's no wonder why LawPay is recommended by 50 state bars and trusted by over 35,000 firms across the country.

Call us today to learn about our 0%, $2 per transaction eCheck processing at 866-376-0950.