LawPay
UnclaimedSecure and compliant payment processing and financial management for law firms.
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TL;DR - LawPay
- Legal payment processing compliant with ABA and IOLTA guidelines.
- Streamlines billing, invoicing, and expense management for law firms.
- Integrates with practice management systems for comprehensive financial oversight.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Ensures compliance with ABA and IOLTA guidelines for legal payments
- Integrates with a wide range of practice management solutions
- Offers flexible payment options for clients (card, eCheck, Pay Later)
- Provides comprehensive financial reporting and spend management for law firms
- Recommended by all 50 state bars and over 60 local/specialty bars
Cons
- Processing fees vary by card type and can include pass-through fees
- Monthly subscription fee is required in addition to transaction fees
- Custom pricing is required for special processing or technical requirements
Key Features
Trust account protection and IOLTA complianceAccepts debit, credit, and eCheck paymentsCustomizable website payment pagesCustom reporting for reconciliationUnlimited users and supportPCI complianceBilling and invoicing toolsSpend management and expense tracking
Pricing Plans
Monthly
$19/mo
- Trust account protection
- IOLTA compliance
- Unlimited users
- PCI compliance ($150 value)
- Debit, credit, and eCheck payment types
- Custom reporting for reconciliation
- Customizable website payment pages
- All available software integrations
- Unlimited support by phone
- Billing and Invoicing
Custom Pricing
Contact us
About LawPay
By Toolradar Team·
LawPay is the #1 legal payment management software designed specifically for law firms. It provides a fast, secure, and compliant way for legal professionals to accept payments from clients, ensuring adherence to ABA and IOLTA guidelines. The platform streamlines the entire payment process, from offering flexible payment options like cards and eChecks to managing billing, invoicing, and firm expenses.
Beyond payment processing, LawPay offers tools for financial reporting, providing insights into trust balances, cash flow, and collections. It also integrates with major practice management solutions to synchronize casework, invoicing, and payments, reducing errors and saving time. LawPay is trusted by over 150,000 lawyers and is recommended by all 50 state bars, making it an essential tool for legal practices looking to optimize their financial operations and maintain ethical compliance.
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LawPay FAQ
How does LawPay ensure compliance with IOLTA and ABA guidelines for trust accounts?
LawPay includes built-in safeguards specifically designed to maintain trust account compliance. It ensures that all transactions adhere to ABA and IOLTA guidelines, providing peace of mind that client funds are handled ethically and securely.
Can LawPay integrate with my existing legal practice management software?
Yes, LawPay is designed to integrate with most major practice management solutions. This allows for seamless synchronization of casework, invoicing, and payments, enhancing efficiency and reducing manual data entry.
What types of payment methods can clients use through LawPay, and are there options for financing legal fees?
Clients can pay using debit cards, credit cards (Visa, Mastercard, Discover, American Express), and eChecks. Additionally, LawPay offers a 'Pay Later' solution, which is a legal fee lending option for clients.
Beyond processing payments, what financial management capabilities does LawPay offer for law firms?
LawPay provides robust financial management features including billing and invoicing tools, spend management for tracking firm expenses and reimbursements, and financial reporting to monitor trust balances, cash flow, and collections, enabling informed decision-making.
What are the typical processing fees for different card types and how are pass-through fees handled?
Processing fees are 2.99% + $0.30 per transaction for Visa, Mastercard, and Discover, and 3.90% + $0.30 per transaction for American Express. eChecks are 1%. LawPay also passes through additional card network fees directly without markup, such as the Acquirer Processing Fee for Visa or NABU for Mastercard, to offer a more competitive program.
How does LawPay help law firms reclaim lost billable revenue and reduce time spent on invoicing?
LawPay helps reclaim lost billable revenue by making it easier and faster for clients to pay, reducing overdue invoices. It also significantly cuts down on time spent invoicing and following up on collections, with estimates suggesting firms can save hundreds of hours annually and reclaim substantial billable revenue.
Source: lawpay.com