Minneapolis, MN (PRWEB) September 12, 2011
mPay™ Gateway today announced that it has entered into an agreement with MasterCard Worldwide to expand MasterCard acceptance through support of mPay Gateway’s point-of-care payment system.
mPay Gateway simplifies the administrative side of patient billing for healthcare providers by providing easy-to-use tools that address patient payment obligations at the time of service. mPay Gateway’s point-of-care patient payment software calculates what the patient owes, authorizes payment at the time of service, and automatically collects the outstanding patient obligation after the insurer has settled the claim, eliminating the expensive and laborious statement process.
“Patient payments are the fastest growing portion of healthcare providers’ revenue streams, but they traditionally have one of the lowest collection rates,” said Brian Beutner, chief executive officer of mPay Gateway. “Working with MasterCard, our technology is addressing inefficiencies in the patient payment process to streamline transactions and increase payment transparency so that providers can improve cash flow and better align with their patient’s payment preferences.”
mPay Gateway makes it simple for healthcare providers to accept card payments as a standard operating procedure. The company’s software also helps healthcare providers improve cash flow through faster receipt of funds while offering their patients an easy, convenient and secure way to pay for services.
“Over the past decade, we’ve seen a shift in the benefits landscape, with consumers becoming increasingly responsible for their medical expenses,” said Steve Carnevale, senior vice president, Group Head, U.S. Market Development, MasterCard Worldwide. “As people’s preferences for electronic payments continue to increase over cash and check, technology like the mPay Gateway is helping healthcare providers better serve their patients while improving their bottom line.”
By accepting electronic payments made on a MasterCard card, healthcare providers can provide their patients with the healthcare services they need, when they need it, regardless of their insurance arrangement. In turn, providers realize improved cash flow with more timely payments, while reducing overhead and billing related expenses.
About mPay Gateway, Inc.
mPay Gateway develops financial technology products and services to support health care’s complex and unique payment environment. mPay Gateway empowers health care providers with a single-source payment solution that enables collections from patients regardless of the patient’s third party payer affiliation. mPay Gateway is a PCI certified acquiring card processor. For more information, visit http://www.mpaygateway.com.
MasterCard is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities—such as shopping, traveling, running a business and managing finances - - easier, more secure and more efficient for everyone. Learn more at mastercard.com or follow us on Twitter @mastercardnews.
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