Check, Please: You No Longer Need to Roam for Payment Solutions

In the earl(ier) days of electronic payments, it was essential to buy & utilize an online payments tool. 

 

Nowadays, payment software is embedded into everything. 


You see, primary vendors – like case management software providers & customer relationship management software vendors & accounting software hawkers, etc. – figured out that, if they built their own proprietary payments tool, they could keep all the payment processing fees for themselves.  That’s better than forcing their clients into another platform (and, receiving no money) or white-labeling a third-party tool (and, only receiving a percentage of the money). 

 

Now, that’s straight-up corporate greed, friends.  Of course, it’s also how business goes. 

 

The good news is that, this is also better for the consumer – and, things don’t usually align this way – in that there is actually a reduced fee (no more monthly charge for a third-party payment software, even as the processing fees are a wash), and it’s better to have an embedded payments tool, anyway (that can align with internal firm workflows & automations). 

 

Look, at that – it’s a happy ending for everybody? 

 

(Well, I guess except for the standalone payment vendors.  But, don’t worry: they’ve pivoted – like 8am (formerly LawPay), which has gotten itself into the matter management business.  So, we’re still good.) 

 

. . . 

 

Time to readdress your tech setup?  You know who to call!! 

Through a unique partnership between the bar association and Jared Correia's Red Cave Law Firm Consulting, National Creditors' Bar Association members have access to experienced law practice management consultants at a special discount rate.

To get started, visit Red Cave's NCBA landing page, and start running your law practice like a business.

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