Grow your business by offering Payment Plans to your clients
Join our Payment Plans launch today to help shape legal payments in the future
RapidPay has released its new Payment Plans and you have been invited to be one of the first law firms in Australia to offer this new payment service to your clients. We are starting with a limited release to help us take on and respond to feedback from law firms and their clients, during a period of lower transaction volumes. As a participant in our limited release, you will have a direct say in the future of Buy Now, Pay Later (BNPL) in the legal industry.
How it works
Payment Plans is a buy now, pay later service specifically designed for law firms and their clients.
- Complete our simple application form to add Payment Plans to your RapidPay Premium account
- Create an invoice or trust request
- Payment Plans are added to your clients’ payment options automatically*
- Your client completes easy sign up
- Your client agrees to repay us over 6 fortnightly instalments with no recourse to your law firm.
- You receive 100% into your office or trust account
- Any Payment Plan Fees are charged to your nominated account at the end of the month
*During the initial release, Payment Plans will be available for transactions between $350 and $5,000 (up to a maximum balance of $10,000 for an individual client account).
The value of Payment Plans
Boost your revenue
Take on clients that you might otherwise turn away, or continue with matters that might otherwise have to stop
Improve your cash flow
Payment Plans help you get paid sooner so you can invest in the growth of your practice.
Reduce your business risk
You no longer have to finance your clients’ matters or accept a discount for payment.
Stay focused on revenue generation
No need to have unpleasant repayment conversations with your clients.
We put your clients first with an easy sign-up process. Your clients have more flexible ways to pay, increasing satisfaction, retention, and referrals.
No recourse to your law firm
There is no recourse to your law firm. We take on the repayment risk and responsibility for managing the payment plan.
Access to legal services
Payment Plans can help your client get access to legal services that they need.
What is the cost?
Our fees are highly competitive, and our fee structure is consistent with the Buy Now, Pay Later Code of Practice (BNPL Code of Practice) issued by the Australian Financial Industry Association (AFIA).
Payment Plan Fee
(invoiced to your firm at the end of the month)
5%* of transaction value for each Payment Plan
Plan Setup Fee
(charged to your client upon creation of each Payment Plan)
*Your client may be charged a $10 late fee if they miss a payment, capped at $200 maximum per 12 month period and, subject to the consumer protections under the BNPL Code of Practice.
CODE OF PRACTICE
Our commitment to you
and your clients
Our Payment Plans have been designed to meet the BNPL Code of Practice. A copy of the BNPL Code of Practice is available here.
Obligations under the BNPL Code include:
- Be open and transparent in our communications to your clients
- Be responsive to your clients and deal fairly with complaints
- Make sure our BNPL product is suitable for your client