Today, 82% of American consumers and 78% of Canadian consumers use virtual terminal credit card processing.
It’s a paradigm shift, we know.
But if you're a lawyer and you’re still processing credit cards the old-fashioned way, it’s time to get with the times.
A virtual terminal credit card processing system allows your client to pay you anytime and anywhere. It turns any device – their phone, tablet, or desktop – into a payment terminal that can accept credit cards.
In other words, it’s a web-based payment system your clients can use to pay you.
Not only does it provide a flexible and convenient payment option for your clients, but it also allows your law office to get paid faster while still complying with billing rules for lawyers.
To help you out, we’ve made a complete guide for setting up virtual terminal credit card processing in your law office.
Find A Payment Processing Company That Aligns With Billing Ethics And Rules For Lawyers
As a lawyer, you need to make sure you’re complying with payment ethics and standards for your practice.
When it comes to payment, this means maintaining a separate trust account and operating account. You need to choose a payment processing company that allows you to seamlessly switch between both accounts.
Penni Payments will help you set up separate virtual terminals for your trust account and operating account. These separate terminals make it easy to differentiate the money you cannot touch from the money you can use. Setting up the virtual terminals is free.
You can also set up as many virtual terminals as you need. Whether that means one virtual terminal for a collective trust account or multiple virtual terminals for separate client trust accounts.
Penni Payments does not charge you for each virtual terminal. With virtual terminal credit card processing, we only process transaction fees.
If you have any questions on how we can help you uphold standards and ethics, contact us and we will be happy to help.
Make Sure Your Payment Processor Complies With PCI DSS
PCI DSS applies to every business that stores, processes, or transmits cardholder data.
This is meant to protect the information of both you and the client. It provides a layer of security to all transactions that take place at your law office.
When looking for a payment processing company, ensure they comply with PCI DSS. This step will ensure your experience with virtual terminal credit card processing is worry-free and secure.
You can rest assured that Penni Payments complies with PCI DSS.
Integrating The Payment System Into Your Law Office
The biggest benefit of virtual terminal credit card processing is that there is no setup fee. This is because there is no hardware to install – the system is virtual.
In terms of integrating the new payment system into your business, the payment processing company will take care of that.
A good payment processing company will seamlessly integrate the virtual terminal credit card processing system into your business. The goal of this system is to streamline your day-to-day transactions and ensure your business runs smoothly.
Your role in this step is to sit back and let the payment processing company set everything up.
Experience The Benefits Of Virtual Terminal Credit Card Processing!
Because there is no hardware to ship and install, you can begin to use the system as soon as your merchant account is approved.
The benefits of virtual terminal credit card processing are immediate.
- Lower rates: with any other type of payment processing, your payment processor will charge a higher rate for card-not-present transactions. With virtual terminals, this fee does not exist since the card is (obviously) virtual.
- Multiple currencies: Your law office can expand its client base by accepting any currency
- Recurring payments: recurring payments are simple to set up with virtual terminal credit card processing. This is beneficial for clients who want a payment plan. Your client will automatically be billed at scheduled dates.
Get Started
Penni Payments guarantees the lowest transaction fees in the market. We’ll help you easily set up the virtual terminal credit card processing system and seamlessly integrate it into your business.
If you have any questions or want more information, contact us today!
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