How A Single Physician Medical Practice Can Start A Card Payment System

Good Essays

There are advantages and ways that a single physician medical practice can start a card payment system. According to the research firm Javelin Strategy and Research. By the year 2017, twenty-three percent of all point of sale or counter sales will be made in cash ( Brooks, 2014). What this means is that over seventy percent of counter sales or point of sale transactions will be made electronically. It is, for this reason, prudent for all forms of business to ensure that they can evolve with the market. If the business is unable to do so, it is likely to lose its edge over its competitors. The Payment Card Industry Data Security Standard, are the rules that regulate the way businesses or organisations handle credit card information or data.
Creating a Secure Card Payment System
Reasons for setting up a card payment system
There are various advantages to a business setting up a secure payment system. The first advantage is that the business is likely to have an increase in profitability. Research has shown that the card payment systems whether by credit or debit cards increases the chances of a customer making multiple purchases. This can be advantageous to the physician as the patient can make multiple payments for future or past appointments at an instance. The other advantage of having a card payment system is that when one uses a card to make payment the payment is guaranteed unlike when you receive a personal check. When a patient uses a debit card the

Get Access