When your law firm’s clients cannot pay their bills, everyone loses. Your business is in a bind. The client’s access to legal services is at risk. PayPal Pay Later offers a new solution: instant payment for your firm and manageable monthly payments for your clients. It is available now in Tabs3Pay, part of Tabs3 Billing in Tabs3 Cloud.
👉 Want to learn more about the benefits of Tabs3Pay? Schedule a demo today!
What is Pay Later?
PayPal’s Pay Later is a short-term loan between your client and PayPal: your law firm gets paid immediately, and then the client pays PayPal back over time. Pay Later offers transparent payment terms with no hidden fees. All payment issues are handled by Pay Later.
If your firm already has Tabs3 Billing in Tabs3 Cloud, you can add Pay Later to Tabs3Pay with just a few steps. If you are a new user, you can include Pay Later right from the start.
How does Pay Later benefit my clients?
Legal clients are often caught between the need for legal help and the strain of paying upfront legal fees. At the same time, law firms must collect fees to remain financially viable. Pay Later can help bridge the gap.
Overall, use of buy now, pay later products like Pay Later has expanded rapidly since 2020. Compared to traditional credit cards, these products generally use a soft credit pull (which does not affect the client’s credit score), are easier to get approved for, and may have lower fees. Especially for people with lower credit scores, particularly women and younger people, buy now, pay later offers greater access to credit than was previously available.
By allowing your clients to choose Pay Later, you can improve access to legal services without putting your business at risk. Clients can pay in manageable installments, while your firm gets paid immediately.
Ready to transform your law firm’s billing process? Schedule a personalized demo and discover how Tabs3 Cloud can transform your firm in one complete practice management solution.
How does Pay Later benefit my law firm?
Pay Later can help you serve more clients while reducing your administrative workload and financial risk. That includes:
- Stronger cash flow, because bills are paid faster
- Less time managing accounts receivable
- Better differentiation from competitors that require lump sum payments
- More success in signing up qualified leads
Is Pay Later ethical for law firms?
Pay Later does not raise any new ethical issues. Law firms have been accepting payments from buy now, pay later lenders for years. Buy now, pay later regulatory activity has focused on lenders, not the businesses that accept payments from them.
Of course, law firms have an ethical duty to conduct due diligence before adopting any electronic payment platform, like making sure the tool is PCI compliant and secure, and that it interfaces appropriately with trust and operating accounts. Law firms should also consult local rules, including those related to surcharging, when setting up a payments platform.
Tabs3Pay is a highly secure, PCI compliant electronic payments solution made exclusively for law firms. Trust account compliance is baked into every aspect of the platform. Pay Later functions the same as any other electronic payment method inside the platform. You simply get paid faster, with no manual data entry or cumbersome check processing. The Pay Later difference is on your clients’ end: each person gets to choose how they want to pay.
Promote client choice and cash flow with Pay Later
Tabs3 Billing in Tabs3 Cloud makes it easy to accept electronic payments with Tabs3Pay. It only takes a few minor changes to add Pay Later to the payment choices you offer clients. More choices means more wins, for you and your clients.
Ready to learn more? Demo Tabs3 Cloud today.
Ready to transform your law firm’s billing process? Schedule a personalized demo and discover how Tabs3 Cloud can transform your firm in one complete practice management solution.
