With its new healthcare payments service, Purchase, New York-based Mastercard aims to speed up the time for hospitals and other specialty providers to receive payment, a process that typically takes months to complete.
Using virtual cards within Remedinet’s platform also allows detailed transaction data to come through for each bill paid with a virtual or branded Mastercard, the press release said.
“We’re on a mission to integrate our technology into platform providers to drive seamless B2B payment experiences at greater scale,” Chad Wallace, global head of commercial solutions at Mastercard, said in the company’s Thursday release. “As we assessed industries where we can contribute with impact, healthcare emerged as a critical industry to unlock payment efficiencies.”
