LegalConnect has launched an integrated payment processing solution for litigation support services firms.
The new LegalConnect Payments helps these firms consolidate and save money on payment processing fees, collect and process online customer payments, and receive next-day funding for better cash flow, the legal technology company said in a Wednesday (May 24) press release.
The offering helps litigation support services firms solve the costly payment processing fees and cash flow challenges they encounter due to the “extraordinary volume of fees they pay out to courts for their clients,” LegalConnect CEO David Nill said in the release. “Now, with LegalConnect Payments, our partners will be able to save money on payment processing transactions and gain next-day funding, which is the timeliest receipt of payment from their customers than ever before.”
LegalConnect Payments provides next-day funding on both credit card and automated clearing house (ACH) payments, financial reporting and analytics, and direct support for payments-related questions and issues, according to the release.
More features are to be added soon, including the ability to store and use multiple credit cards and ACH accounts, giving the law firm’s clients greater payment flexibility, and to charge pro per, new and small customers on submission of an order, the release said.
“This ‘charge on submit’ feature will further improve cash flow and reduce risk when doing business with these types of customers, enhancing their business,” LegalConnect Vice President of Platform Integrations Larry Swain said in the release.
Digital tools are being implemented to help manage several aspects of the legal services field.
For example, Litera offers LegalTech solutions that help teams collaborate more efficiently and securely; streamline shipping, tracking and invoice processing workflows; take legal agreements from first draft to final delivery faster; and manage transactions and litigation.
“We’ve been really focused in on how we continue to build out our platforms, solve more problems for the legal industry and the broader corporate market,” Haley Altman, who was global head of corporate development at the time and is now strategic advisor at Litera, told PYMNTS in an interview posted in January 2022.
In another example, law practice management software maker MerusCase released an all-in-one payments platform called MerusPay in August, saying its solution improves the productivity and cash flow of law firms.
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