InstaMed is the first healthcare company to integrate Apple's big bet on mobile payment technology into its service.
Healthcare payments manager InstaMed on Monday said it added ApplePay to its payment methods, the first healthcare company to integrate Apple’s big bet on mobile payment technology into its service.
The news means patients will be able to use Apple smartphones enabled with ApplePay at healthcare providers, payers or online to pay medical bills.
Apple says its system, which essentially aims to replace having to pull out cash or a credit card to make transactions, adds a layer of security to the payment process since it never actually transfers the customer’s card number and instead uses random numbers that link to the user’s static card number.
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InstaMed CEO Chris Seib said he hopes a simplified payment process can help cut bad debt for healthcare systems.
“As mobile payments are expected to reach $142 billion by 2019, the healthcare industry must leverage solutions like Apple Pay to meet these consumer needs,” he said in a statement.