1. Everything you need to know about accepting credit cards. 1

2. CLE Spotlight On 1.Merchant Account Basics 2.ABA and State Bar Opinions 3.Chargebacks 4.Using Credit Cards to Get Paid 5.Best Practices 2

3. What is a Merchant Account? A merchant account simply means that you can accept credit and debit card payments from your clients. 3

4. Credit Card Transaction 4

5. Unique Requirements for Attorneys Attorneys must comply with –ABA Guidelines –State Bar Guidelines 5

6. Can My Client Pay a Retainer with a Credit Card? 6

7. Trust Versus Operating 7 Avoid commingling client funds Safeguard client money Separate deposit

8. What is a Chargeback? A chargeback is an irreconcilable dispute between the cardholder and the business in regard to a particular charge. Why do they happen? –Intangible service –Can’t return legal services –Fee disputes –Client is unhappy with resolution of the case 8

9. Defend Against Chargebacks When a client disputes a credit transaction, it is crucial that you provide two key pieces of information: Proof # 1 - a signed authorization from the cardholder for the amount specified. Proof # 2 - documentation that work was performed. 9

10. Chargeback 10

11. Chargeback Process 11 Chargeback Process

12. The Good News You can win! Attorneys have an overwhelming success rate against chargebacks because of their ability to document their work. 12

13. Additional Protection Do not store credit card numbers electronically (i.e. Excel file on your laptop) Credit card information can be stored in paper files if they are locked Credit card machines should truncate the credit card number (xxxx out the number) Emailing credit card numbers Updating passwords Monitoring returns 13

14. Features of Credit Acceptance Offer clients a convenient payment option. Professionally process payments. Streamline billing and collections. –Keep credit cards on file. –Electronically invoice clients. Turn your website into a payment center. Help diffuse client payment disputes. 14

15. Pay Bill Options 15 Visit www.teaselaw.com

16. Let Clients Know You Take Credit Cards 16

17. Sample Electronic Invoice 17

18. Manage Collections One of the primary uses of credit cards in a law firm is to help lower your collections. Use credit card incentives in order to encourage their clients to pay. 18

19. Credit Cards on File Credit cards are a great tool to help improve cash flow. Include a credit card authorization form with your retainer agreement. –One time authorizations –Monthly billing –Past due payments –Payment plan 19

20. Benefits of Credit Acceptance Attract clients Win new business Quickly receive client payments Reduce collections Improve cash flow! 20

21. What Will You Do With Your Free Time? 21

22. Questions? ? 22

23. Typical Merchant Account Fees Fee Types Fee Ranges Fees Application Fee$75- $195 Contract Terms1-3 Years Cancellation Fee$70 - $300 Set Up Fees$100 - $300 Annual Fee$50 - $200 Monthly Minimum Fee$20 + Service Processing Rate for In Person Transactions1.79% - 1.85% Processing Rate Internet/Mail/Phone2.29% - 3.5% Transaction Fee for In Person Transactions20¢ - 30 ¢ Transaction Fee Internet/Mail/Phone20¢ - 40 ¢ Monthly Statement/Service Fee$5 - $15 23

24. Speaker Janelle Benefield Operations Director Affiniscape Merchant Solutions Provider of the Law Firm Merchant Account “Recommended by over 50 bar associations!” 512-366-6971 jbenefield@affiniscape.com 24