Companies can accept various types of payments including cash and credit cards such as Visa, MasterCard, Discover, and American Express. In order for your company to accept credit cards, you first have to set up a credit card merchant account. There are two ways to do this: You can either have a credit card machine at your law practice so that when your customer comes in they can pay, say, their $100.00 bill before they leave. This is called a physical or swipe transaction. The other way is to have a point-of-sale computer system handle the transaction. Nowadays, law firms are collecting most of their payments through credit cards and through various other electronic methods.
