Affordable Hospital Credit Card Processing Solutions

Hospital merchant account is a specialized payment processing account designed to accept credit card transactions for various services offered by hospitals. With a robust payment gateway, it becomes extremely easy for patients and attendants to make payments to the hospital using their favorite payment methods like credit cards, debit cards, gift cards, bank transfers, e-checks, ACH, and many more.

When a hospital establishes a merchant account, it creates a relationship with the merchant acquiring bank. This bank is sometimes also referred to as the sponsor bank, which assumes the complete risk of the merchant’s transaction processing activities.
The hospital also requires a payment gateway to make transaction processing possible. A hospital payment gateway acts as a bridge between the merchant, the sponsor bank, the card scheme, and the card issuer.

In a hospital credit card processing solution, transactions occur in multiple steps, including authorization, authentication, and settlement of transactions. All of this is achieved by using the right hospital credit card processor.

It is important to note that hospitals are subject to stringent regulations and compliances, including those related to patient privacy and data security. When applying for a merchant account, hospitals must ensure that they apply to a payment processor that complies with various related government guidelines, such as the Health Insurance Portability and Accountability Act (HIPAA) in the United States.

Types of institutions that can benefit from a Hospital payment processing.

A General Hospital can collect payments for medical services such as emergency care, surgery, maternity care, and pediatrics. A Psychiatric hospital can accept payments for psychiatric consultations, while a rehabilitation center can receive payments for rehabilitation programs. Hospitals offering cancer treatment can accept payments for oncology services, including chemotherapy. Not-for-profit hospitals can utilize a merchant account to accept donations.

These days almost every hospital provides a range of services such as ambulance services, laboratory services, radiology services, ultrasonography, pulmonary function tests, PET-CT scans, and many more. For all these services, private hospitals can use credit card processing solutions.

Furthermore, some hospitals function as medical colleges, where they offer medical courses to doctors, nurses, lab technicians, and related individuals. These medical educational institutions can also accept payments using a merchant account and payment gateway.

Types of Merchant Account Solutions for Hospitals.

Credit Card Readers/Terminals For Hospitals

Retail credit card terminals for hospitals allow them to accept face-to-face payments where patients or attendees hand over their credit or debit cards to hospital staff to proceed with transactions. These retail credit card terminals ensure a high level of data security and meet industry compliance requirements. Hospitals can accept EMV, contactless, tap and pay, and QR code transactions with these retail terminals. Depending on requirements, hospitals can either order standalone systems or countertop terminals. These credit card processing machines can be easily connected to various hospital POS systems. With these machines, hospitals can accept patient payments, charitable donations, insurance copayments, medical equipment rentals, and even medical tourism payments.

Depending on the size of the hospital, these machines can be placed accordingly. If the hospital is not very large, then the most appropriate place for these credit card terminals is the admission and registration desk. In case of a large hospital, these terminals can be placed in outpatient clinics, inpatient units, emergency departments, pharmacies, diagnostic centers, retail outlets, billing departments, and even at the valet parking or transportation division of the hospital.

Online credit card processing for Hospitals.

With an online credit card merchant account, hospitals can accept payments electronically over the internet. An online payment gateway essentially performs the same function as a retail credit card terminal does for hospitals. For example, it accepts payments for medical bills, insurance copayments, and other services offered by the hospital.

The online payment gateway for hospitals integrates easily with the website of the medical institution. Patients access the hospital website to make payments for services and appointments. The payment gateway encrypts the sensitive card information and processes the transaction after authentication. This solution offers real-time transaction processing and sends immediate notifications to the patient as well as the hospital about the transaction confirmation. Our online payment gateway solutions can be easily integrated into popular hospital management portals.

Virtual Terminal Solution for Hospitals

Medical procedures can be expensive, and sometimes patients may rely on their friends or family members to make the payments for the procedure. These people may not be physically available at the hospital; however, they can certainly make payments if the hospital uses a virtual terminal. With the MOTO terminal, hospitals can accept orders over the phone and also through mail. Customers only need to submit their credit card details to the hospital and the hospital takes care of processing the transaction securely over the virtual terminal.

Application process for hospital credit card payment solutions

At QuadraPay, we follow a very simple process when it comes to the application for a hospital credit card merchant account. The initial step involves basic communication between you and us. All you have to do is fill out the short form on our website and provide us with your name, email, and phone number. Once we receive this information, one of our hospital credit card processing experts will contact you to discuss your requirements.

After carefully understanding your requirements, our hospital payment processing expert will guide you about the next steps, which will mainly include requesting you to send the KYC documents for processing. When you submit the same documents to our acquiring partners, they will carefully follow all the required guidelines and evaluate your application for approval.

Once your account is approved, you will receive details of the pricing structure as well as the terms and conditions of the merchant account. Upon acceptance of the agreement, you will receive integration and installation guidelines for the merchant solution.

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