Thanksgiving not only marks the start of the holiday season – it’s also a time to reflect on what you’re most thankful for. As a security officer, I am thankful for all the payment technology that helps prevent data breaches in healthcare and that make processing payments secure and convenient. I can pay where I want, how I want and when I want, all with confidence that my information is protected.
What piece of the security pie are you thankful for this Thanksgiving season? Here are just a few of the things that I want to give thanks for this year.
I Am Thankful for NFC Contactless Payments
Grocery store lines can be very long, especially during Thanksgiving when everyone is stocking up for their holiday festivities. I am thankful that when I get to the cashier at the grocery store, I simply hold my phone up to the payment terminal to easily pay for my groceries. Near-field communication (NFC) technology lets two devices communicate when each device is close to each other, often within inches. Apple Pay and Google Pay leverage NFC to create a simple payment experience, so all your purchases are incredibly convenient.
Why not deliver that same level of convenience to patients paying healthcare bills? Apple Pay and Google Pay are available for healthcare payments, too. With the growing popularity of integrated health applications and wearable technology, it is likely that these payment options will continue to be relevant to healthcare payments. By 2020, Mastercard and Visa will require that all U.S. merchants accept NFC contactless payments. InstaMed is prepared for this mandate and offers multiple options for contactless-enabled devices.
I Am Thankful for My Digital Wallet
Companies like Amazon and Uber have set the bar for convenient online payments. When I log into my Amazon account, all of my recent transactions and payment card information is saved so I never have to pull out my credit card and type in my information again. When Cyber Monday comes around and I want to jump on some early holiday sales, I don’t need to worry about making sure I have my wallet with me to make a purchase. I can pay from my phone, computer or from just about anywhere.
Consumers expect a simple experience that does not require them to re-enter their credit card information every time they pay online. In healthcare, as a patient’s financial responsibility continues to rise and the industry shifts towards a consumer-centric model, the ability to save payment information online in a digital wallet to pay for healthcare bills is becoming a must-have. However, directly storing credit card numbers online can result in significantly expanded PCI-DSS burdens, such as regularly cycling the encryption keys used to encrypt credit card numbers. Instead, healthcare organizations should use tokenization as a safer and easier alternative – which brings me to the next thing I am thankful for.
I Am Thankful for the InstaMed Secure Token
The InstaMed Secure Token enables healthcare organizations to deliver a seamless and secure online consumer payment experience within their existing portals with cardholder data never touching their servers. As a result, consumers can make one-time payments and also have full access to their digital wallet for future or recurring payments while using any device. Likewise, healthcare organizations significantly reduce their PCI compliance efforts and ensure that cardholder data is protected.
I Am Thankful for Reduced PCI Scope
Healthcare payments are all we do at InstaMed. We understand the unique security and compliance needs of healthcare organizations, and we are fast to innovate in order to bring the latest security technology to healthcare. InstaMed is certified as a Level One v3.2 Service Provider with the Payment Card Industry Data Security Standard (PCI DSS). Our solutions can significantly reduce healthcare organizations’ PCI compliance efforts with our SAQ A eligible solutions and ensure that cardholder data is protected.
In healthcare, we were the first to bring Apple Pay and a PCI Validation for P2PE v2.0 to market. We are also EMV-ready and certified with all major card brands, and we are HITRUST CSF certified. I am thankful that no matter where our patients and guarantors are, they can have confidence that InstaMed is protecting their healthcare payments at every touchpoint.