The processing fee for e-payments is $5 per e-check and a flat 2.8% pricing on all credit cards, regardless of card types.Ĭharges by payment processors can often be difficult to discern because of various extra fees charged or bracketed rates for different card types. Pricing and Cash-Back Offerīill4Time subscribers pay no additional subscription cost or membership fee for the payments feature. Within the portal, the client also has the options of saving payment information for future use and of having the receipt send to multiple email addresses, such as to a bookkeeper or office manager. Bill4Time says this is more secure than entering routing numbers and eliminates any possibility of mistakes. Either they can enter their routing and account information, or they can select e-check via login, which directly authorizes the e-check via a secure login to the client’s bank. In addition to credit card payments, clients have two options for e-check payments. The client’s payment is confirmed and the client also receives an email. To receive e-payments from clients, firms can add the e-payment option to any invoice and then either send the invoice by email or send an email inviting the client to a portal to view the invoice and make a payment. “Given the fact that it will be all-in-one and the fact that clients can generate at-a-glance reporting based on any of the charges and payments that they’ve received, it’s going to be a big game changer for our clients,” Silberberg said. Refunds are displayed on the page, identified by the letter “R” in the payment ID number. Now, firms can issue payment refunds, either full or partial, directly from this page. The payments page shows all payments activity.įrom this page, the firm can see all payments made, who made them and by what method, the processing status of the payment, the bank account into which it was deposited, and any processing fees charged.įor firms that formerly used third-party payment processors, issuing a payment refund would have required a visit to the processors’ website. Users can separately view operating or trust payments alone, or any one client’s payments alone, but this overview page displays the most information. Once a firm activates the payments feature, all payments information is consolidated on a single overview page, including for both operating and trust accounts. The application has just three steps and can be completed in minutes for most firms, Schaaf said. Last week, I was given a preview of Bill4Time payments by Sarah Schaaf, Headnote cofounder and now general manager of payments at Paradigm David Silberberg, product manager and Kristin O’Neill, vice president of customer success.īefore using Bill4Time Payments, a firm must complete a brief application to activate the feature. In addition, Bill4Time says that its e-payments technology is fully compliant with Payment Card Industry (PCI) data security standards and with the trust accounting rules in all 50 states. Users should also benefit from having customer support consolidated under a single vendor. It is also more convenient, eliminating the need to jump from the practice management platform to the payments platform and back again to perform simple functions. While Bill4Time’s users previously had the option of accepting e-payments through third-party payment processers, the integrated Bill4Time Payments provides them with more features and greater functionality, including at-a-glance reporting of all charges and payments. (Paradigm’s portfolio of companies also includes MerusCase.) After the acquisition, another practice management product in the Paradigm portfolio, PracticePanther, launched a native e-payments feature, PantherPayments, also based on the Headnote technology. Based on Headnoteīill4Time Payments is based on the e-payments platform Headnote, which was designed specifically for lawyers and law firms to be compliant with trust-accounting and data-security requirements.īill4Time’s parent company, Paradigm, acquired Headnote last September. In addition, in conjunction with the launch, Bill4Time is offering customers who sign up for e-payments a $150 cash-back bonus. Plus, law firms that accept e-payments get paid faster and increase their collections, studies suggest.Īgainst this backdrop, the practice management platform Bill4Time is today unveiling built-in electronic payments, enabling a law firm’s clients to view invoices online and make full or partial payments electronically using credit cards or electronic checks.īill4Time Payments is available to all Bill4Time subscribers at no extra cost, except for individual payment processing fees, which Bill4Time says are the lowest in the industry. Clients who now pay everything else online have no appetite for lawyers who require paper payments. The pandemic has made it more essential than ever before for law firms to accept electronic payments.
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