MTFX Group, a provider of currency exchange solutions with offices in the US and Canada, has expanded its payments technology into the international healthcare sector with the launch of a new vertical.
Dubbed PayMyMedicalCare (PMMC), the new vertical is aimed at addressing the friction currently prevalent within the international healthcare payments space.
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MTFX has flagged several challenges in the healthcare payments sector such as limited acceptance of payment methods as well as mistrust in the billing system.
The company also feels that the present healthcare payment space is bogged down by manual methods, supplier’s system of records and billing cycle issues.
According to the company, its new solution will offer North America healthcare partners data transparency, speed to market along with cost efficiencies.
This is said to curb friction in the cross-border healthcare payment settlement process.
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By GlobalDataCommenting on the latest move, MTFX chief market strategist Arif Harji said: “Expanding into international healthcare payments, by way of PayMyMedicalCare, has been an ambition for us for the last few years.
“Our vertical-specific solutions that we have developed for corporations, travel and education have paved the way for us to build onto our global payments infrastructure and aid in improving healthcare payments with an efficient and cost-effective alternative.”
