Robert Ambrogi Blog
The practice management company Rocket Matter is announcing today that it has acquired LexCharge LLC, a payment processing company that specializes in handling payments for legal professionals.
The LexCharge payment technology will now be integrated within the Rocket Matter platform, to create a consolidated, streamlined experience for law firms for time capture, billing, invoicing, payments and financial monitoring. Rocket Matter will discontinue its Rocket Matter Payments brand.
At the same time, LexCharge will remain a standalone brand and the service will remain available to customers who are not Rocket Matter subscribers.
“After a banner year financially for Rocket Matter, we were in a position to bring LexCharge into the Rocket Matter family,” Larry Port, Rocket Matter’s founder and CEO, said. “Now, with deep experience in payment processing, we will be able to disrupt legal payments as we did with cloud practice management twelve years ago. Legal consumers now have a major alternative to LawPay with transparent pricing.”
Port cofounded LexCharge in September 2017 together with Jeff Shavitz, a veteran of the credit card processing industry, who served as its CEO. Shavitz will continue to work with LexCharge as a strategic consultant.
With Rocket Matter and LexCharge under one roof, Port told me last week, the product will benefit from Rocket Matter’s larger development team and experience in building practice management systems. That will allow the product to scale more broadly, he said.
“The opportunities are endless to merge the practice management and time and billing capabilities of Rocket Matter with the payments platform offered by LexCharge,” Port said. “This is a ripe area of expansion for us.”
Pricing for the Service
Port said he believes LexCharge is superior to other payment processing products in the legal market because its fees are simpler and more transparent.
He provided the following schedule of fees.
| Gold | Platinum |
| For law firms processing less than $25,000 a month | For law firms processing more than $25,000 a month. |
|
2.95% and 17¢ per transaction for all card types, including Amex. No monthly fees for firms processing at least $500 a month. Same-day approval and processing. No card network fees or other confusing surprises. World-class Support based in the U.S. |
Call for quote. Transparent, pass-through pricing for PCI and other fees. Volume discounts Next-day funding for payments received before 11pm. World-class Support based in the U.S. |