Wednesday, May 11, 2016

Law Firm Merchant Account

Law Firms at times need specialized merchant accounts. This may be do to the fact that they have money in escro or they need to send out a bill. Make sure to find a good Law Firm Merchant Account that can handle your Law Firm needs.

The right point of sale (POS) technology can help your back office operations run much more smoothly so your attorneys and staff aren’t side-tracked to deal with administrative headaches. With law firm payment processing from Prestige, you can:

Easily track your clients’ appointment history, side-by-side with their complete case histories—without having to fumble through paper records

Streamline, or even automate, client appointment reminder calls, via SMS text or email confirmation
Track and manage inventory of your office supplies 

Allow your clients to pay how they want to pay.

Would your clients prefer to pay for your services online, via a mobile app, or in-person using a credit or debit card? When you partner with Prestige for your law firm credit card processing, the choice is theirs—and the list of options is growing all the time. In fact, payments industry experts estimate that by the year 2020, there will be 455.1 million mobile wallet users.

Consider choosing a law firm credit card services partner that enables your office to accept the latest in payments options—including mobile wallets—in order to attract new, young clients, as well as keep your current clients happy. Today consumers expect the very latest in payments processing wherever they go, even when they’re at their attorney’s office.

Built-in payments processing wins the case.

When you choose Prestige for your law firm credit card processing, you won’t have any surprises or additional software to buy. In fact, our payment processing is already built into the most popular POS systems for attorneys. Your new payment solution will be ready to go from day one, meaning there will be less downtime and more revenue coming in for your office.

EMV and the liability shift

Apparently many businesses have been slow to adapt to the latest security standards known as EMV which utilizes the chip in the latest credit cards to thwart fraud. I already posted at length about EMV technology and how it operates with regard to a credit card machine. More importantly the discussion of the liability shift as of October 2015. Those retailers not utilizing the EMV technology are now left holding the bag if fraud is committed. The Wall Street Journal reported the story of a grocer that was hit with a $4000 charge as they had a series of fraudulent charges and had not switched to the EMV credit card reader.

Unfortunately many small business owners have been hesitant to switch due to the high cost of EMV credit card machines. Many processors are charging upwards of $5-800 for an EMV ready credit card terminal as they are taking advantage of the need for new equipment. There are processors such as Prestige Merchant Services who offer a free EMV terminal program to businesses looking for competitive pricing without a contract and don't want to pay for new equipment. Be careful about which processor you deal with as many will attempt lock you into long term contracts and will try to lease you equipment that will cost you 10-20 times what the credit card terminal is worth.