Many clients prefer to pay their lawyer by credit card. Lawyers can get paid faster by allowing them to do this. However, there is a hitch. What if the client is paying a retainer? The credit card processors charge service fees which are deducted directly from each transaction. This violates regulations which require the full amount of retainer payments to be deposited into the lawyer’s trust account.
LawPay offers a solution to this problem, and its service is now available to Canadian lawyers. LawPay credit card transactions can be directed to either your operating account or your trust account, and the trust account transactions have no service fees deducted. The process also integrates with several legal billing systems.
If you have questions about this subject, please contact the author.