Implementing an online payment feature into our clients’ websites is probably one of the most common tasks our law firm web design team performs, but many attorneys and law firms are unaware of the pros and cons of each payment processing software. Our law firm web design specialists have compiled a list of the top five payment processing software packages that attorneys typically use.
1. Law Pay
Law Pay is one of the highest-rated payment processing software services available. In-depth customer-generated review sites, like G2 and Capterra, show numerous reviews that place Law Pay in 4.8-5 star range out of a possible five stars. Moreover, the cost of Law Pay is calculated based on a flat-rate percentage of transactions and a monthly fee that are as follows:
- Monthly Fee: $20 per month or $180 per year
- Credit Card Processing Fees: 1.95% + 20¢ per transaction
- Specialty Cards (Including American Express): 2.95% + 20¢ per transaction
- E-Checks: 2$ per transaction
You can also integrate Law Pay with your website to allow clients to make payments online, and it integrates with most major case management software packages.
Headnote has a reputation that is just as impressive as Law Pay with reviews that reflect the same level of quality and customer satisfaction. One of the main differences between the two services is the price. The price for Headnote is as follows:
- No Monthly Fees
- Credit Cards: 2.9%
- E-Checks: 1.9%
Although Headnote does allow you to set up a payment portal online, it does not allow you to integrate the payment system with your case management software, which can deter some lawyers that want to fully integrate all of the software packages their office uses.
Although Lex/Actum may not be as well known as some of the other large payment processing software packages, it is starting to gain traction. In fact, it was even discussed as a good option for certain law firms in the American Bar Association Journal in 2018. The reason being, Lex/Actum offers a different pricing scheme than its competitors. Rather than charge law firms a percentage of each transaction on a per transaction basis, Lex/Actum charges a flat monthly rate and per transaction fee based on the value of the transactions your law firm processes in a month. The pricing scheme for Lex/Actum is as follows:
- Total transactions up to $10,000 in one month: $29 per month, 25¢ per transaction, $2 per transaction for e-checks
- Total transactions up to $40,000 in one month: $49 per month, 10¢ per transaction, $1.50 per transaction for e-checks (Includes Lex/Actum invoicing software)
- Total transactions up to $60,000 in one month: $69 per month, 10¢ per transaction, $1.50 per transaction for e-checks (Includes Lex/Actum invoicing software)
- Unlimited Transactions: $99 per month, 10¢ per transaction, $1.50 per transaction for e-checks (Includes Lex/Actum invoicing software)
Although Lex/Actum does allow you to accept payments online, it doesn’t offer any other integration options.
There are other payment processing software packages that cater to law firms, but many of these platforms have unpredictable rates and very little integration options. For this reason, small law firms and solo practitioners will often use stand-alone platforms that have competitive pricing but don’t cater specifically to law firms. Stripe is one such platform. It allows your law firm to accept payments online with all major credit cards, and the pricing scheme for Stripe is as follows:
- No Monthly Fees
- Credit Cards: 2.9% + 20¢ per transaction
5. Lex Charge
Lex Charge is a payment processing software that caters specifically to law firms. However, this platform does have some drawbacks. You can only accept online payments with Lex Charge if your law firm uses the case management software system Rocket Matter. However, this software package does offer features such as invoicing, loans for attorneys, and a guarantee that they will beat any competitor’s pricing scheme, but the price of Lex Charge can vary significantly. Although this software package has its drawbacks, it can be a good option for certain practices.
Are You Ready to Implement a Payment Processing Software into Your Website?
The law firm web design specialists at On the Map Marketing are here to help. We have helped hundreds of law firms integrate payment processing software packages into their websites, and our team can begin working on your website immediately. So, call our office today for more information.