LegalPay IOLTA And Accepting Credit Cards Article Featured In Law Technology Today

Monify’s founder and president, Chase Hunsaker, has an article featured at Law Technology Today discussing the ways that LegalPay’s payment technology can safely accept credits with Interest on Lawyers’ Trust Accounts (IOLTA). Continue reading to learn more, visit our LegalPay page, or visit Law Technology Today to read the article in its entirety. 

IOLTA accounts are bank accounts that direct interest earned from a clients’ trust fund to the firm’s IOLTA program, which is run through their respective state. IOLTA programs use the funds to pay for clients who can’t afford an attorney on their own, for pro bono work, and other programs. This is an inherently complex form of payment processing and is specific to a law firm’s needs. After all, law firm payment processing isn’t the same as setting up a POS system for a coffee shop or a new retail establishment. 

There are a wide range of benefits to accepting credit cards and many firms not only use the integrated LegalPay payment page for invoice payments but also as a payment portal for IOLTA. The team of business service providers here at Monify can help you determine which setup works best for you. We understand the unique needs of law firms, which means we can anticipate your needs and potential problems. Creating a good law firm payment processing system that works for your firm is essential to secure, simple, and compliant transactions. 

Know that with the right technology, you can safely accept credits with IOLTA — you just have to make sure you choose the right business service provider. If you’d like to learn more about how Monify’s law firm payment processing technology can help your law firm grow, schedule a consultation. Our goal is to find customized payment solutions for every business owner we work with, all while providing personalized customer service every step of the way.