The payment landscape is constantly evolving to meet the demands of healthcare providers and patients. Staying updated on the newest developments is crucial for industry success. Operating a healthcare practice requires a reliable payment processing system, and payment gateways are instrumental in accepting transactions through credit or debit cards and digital wallets.
In today’s increasingly digital healthcare environment and dwindling cash usage, a user-friendly payment gateway is crucial for retaining both healthcare providers and patients. It ensures seamless engagement and fosters long-term relationships in the digital patient care marketplace. Healthcare practices must remain vigilant to evolving payment trends to satisfy their patients’ preferences, maintain higher security standards, and reduce errors while processing.
Explore the most recent CERTIFY Pay payment trends in 2024 – let’s dive into what healthcare providers can expect more!
1. Mobile Payments
Mobile payments have quickly become the preferred method of payment in recent times. The mobile payment market in the United States alone is valued at $53.5 billion as of 2022 and is expected to exceed $607.9 billion by 2030. This rise can be attributed to its convenience and flexibility, making it a viable option for healthcare practices of all sizes.
As an innovator in mobile payment solutions, CERTIFY Pay simplifies transactions through smartphone swipes and taps. This transforms how healthcare practices accept quick payments by blending advanced security with user-friendly interfaces.
2. Digital Payments
Digital wallets accounted for nearly half of all online transactions globally in 2022, with projections to reach 54% by 2026. To utilize a digital wallet at the point of care, patients need to open the mobile app, scan a QR code, or tap their phone on the terminal. CERTIFY Pay offers digital wallets to healthcare providers, allowing them to accept online payments from patients. This innovative solution helps streamline payment processes and improve patient satisfaction.
3. Smooth Payment Experiences
Looking ahead to 2024 and beyond, the demand for a seamless payment experience is on the rise, making it a key trend for top healthcare payment gateways. CERTIFY Pay meets this demand by providing intuitive, efficient payment processes that enhance patient satisfaction and loyalty. With mobile healthcare payments gaining prominence, seamless payments are more critical than ever, underscoring CERTIFY Pay’s role in delivering exceptional patient experiences.
4. Contactless Payments
Contactless payments are gaining popularity worldwide, with a market value of USD 34.55 billion in 2021. Projected to grow at a rate of 19.1% from 2022 to 2030, this increase is attributed to their convenience and security. They facilitate quick and secure transactions through device tapping, eliminating physical contact and the need for cash handling.
CERTIFY Pay streamlines contactless payments for healthcare practices, ensuring secure payment solutions, while QR codes provide patients with a convenient and secure way, enhancing the overall payment experience.
5. Enhanced Security Features
While choosing your healthcare payment gateway, prioritize security first. It fosters patient trust, mitigates financial risks, and guarantees adherence to industry standards and regulations. Our payment gateway utilizes modern encryption technology to protect your patients’ credit and debit card details from unauthorized access or misuse.
For healthcare practices, ensuring payment security is essential for maintaining patient confidence, minimizing financial losses, and complying with relevant regulations such as HIPAA and PCI DSS.
6. PCI Compliance
Ensure that the selected payment gateway meets PCI Compliance standards. These standards entail adhering to PCI DSS, a set of mandatory security regulations for healthcare providers handling credit and debit card payment processing. By selecting CERTIFY Pay’s 4.0 PCI-compliant gateway, your practice can confidently meet these essential security requirements with real-time payments.
7. Payment Customization Options
Consider assessing the flexibility of payment customization for your practice. Our platform provides a range of customizable features tailored to meet your healthcare practice requirements. You can design tailored payment solutions, from personalized payment plans to adjustable billing cycles. Achieve optimization in payment processes and enhance patient satisfaction with CERTIFY Pay’s flexible payment solutions.
8. Seamless Integrations
When selecting a payment gateway, verifying its compatibility with your Electronic Health Record (EHR), practice management software, and billing systems is vital. This seamless integration capability streamlines your accounting and administrative processes, automating tasks and saving precious time. CERTIFY Pay stands out by offering user-friendly API integration solutions tailored to your specific healthcare practice needs, ensuring smooth operations and efficient management of your patient payments.
Future of the Payment Industry
The payment gateway market has seen drastic growth in recent years. The market size, which increased substantially from 2023 to 2024, is projected to continue growing with an impressive CAGR. This rapid expansion is driven by providers like CERTIFY Pay keeping on par with state-of-the-art payment gateway solutions, fueling steady growth in healthcare payments across the US and beyond.
Final Words
Emerging payment technologies are revolutionizing the way healthcare practices manage their transactions. These advancements enable faster, more secure, and seamless payment options for patients, offering new opportunities. Healthcare providers can now create patient-centric digital payment experiences, enhancing their practice’s brand and providing better patient support.
CERTIFY Pay payment gateway has many features tailored to suit healthcare practices’ unique requirements. It includes robust fraud detection and prevention capabilities, strengthening healthcare practices to mitigate the risk of financial losses from fraudulent activities. Moreover, CERTIFY Pay supports various payment methods, such as credit and debit cards and digital wallets, enhancing patient payment flexibility when making payments.
Get in touch to know more about the payment gateway trends that CERTIFY Pay supports and how to utilize them in your healthcare practice!
