Why Attorneys Should Accept Credit Cards
Cash Flow A law office can drastically reduce its accounts receivables just by accepting credit
cards. Instead of waiting for checks to be mailed, deposited in the bank and finally clear, fees
collected via credit cards will be automatically cleared within 2 or 3 business
Cash Management As a last resort, many attorneys will turn to a collection agency or arbitration.
Unfortunately agency fees range from 15-50% of the collected amount, and arbitration rarely
results in more than 50 cents on the dollar—if the client decides to pay. A credit card processor
collects 2-3% per transaction—before services are rendered.
Relationship Management If a collector is used to go after a delinquent client, more than likely
the client relationship will be jeopardized.
Increased Revenue All of the different credit card associations report that typically a business
can increase their gross revenue by 16–22% just by accepting credit cards. Studies also show that
average purchases increase when a company offers more payment options. If a consumer is
limited to cash they are also limited to how much of your service they can
Consumer Trends Many attorneys charge up front for their services, which can mean a bill of
several thousand dollars. As the size of the transaction increases so does the tendency to rely on
a credit line rather than cash.
Customer Service Many consumers simply will not work with an attorney who doesn’t accept
credit cards. Consumers want to take advantage of the miles and rewards programs offered by
their card issuer, and they want to preserve capital whenever possible.
Lost Opportunity An attorney spending time trying to collect overdue debt is permanently losing
the time that would otherwise be applied toward the acquisition of new business.
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