EMV Compliance
Accepting Chip Card Payments is a New Necessity
What it Means
EMV® stands for Europay, MasterCard ®and Visa®, the three Card Associations responsible for banding together to combat credit card fraud on a global level. Together, these companies spearheaded the move from magnetic “swipe” payment cards to those embedded with a secure microchip. This technology:
Stores credit card data on a secure chip
Assigns a unique value to each transaction for maximum protection from fraud
Makes it virtually impossible to copy or steal credit card data
Allows for the card to be accepted securely across the globe
May require the use of a PIN to further reduce fraud due to lost or stolen cards
Why it Matters
EMV implementation brings with it a huge shift in accountability and liability. Since October 2015, your practice or enterprise is liable for the cost of fraud on transactions using a chip card but not processed on an EMV-capable terminal. As long as you are compliant with EMV regulations, you won’t be liable for these transactions.
What We Can Do
Rectangle Health offers a wealth of EMV solutions that are easily integrated with your software. You will benefit from:
What You Should Do
Healthcare practices that have not yet transitioned to EMV card acceptance should consider doing so immediately to protect themselves and their patients. This typically requires a software update and the installation of an EMV-capable terminal that can handle chip cards. Rectangle Health is ready to assist you in the transition process.
“We are an extremely busy optometric practice, and we are always very conscious of business costs. We use a practice management software and couldn’t believe we could start updating payment directly into the patient ledger and securely keep patients credit card information on file.”
“We’re writing to show our appreciation for Rectangle Health. Initially, I doubted some of the features that were promised, but you guys delivered. The web payments and payment plans are easy. The ease of email receipts and vaulting cards are great for our Billing Department. I would recommend any colleagues use your system without reservation.”
“We have been very satisfied with the degree of customer service and professionalism we have received in the process of switching from our previous processing company to Rectangle Health.”
“I had been told by many companies that they could integrate into our software, but once they came out and met with me, I could see they really could not do what they said…. Rectangle Health could not only seamlessly integrate with my software as they stated, but they could offer substantial savings each month.”
“We have been a Rectangle Health client for over 3 years now and we’re pleased to say they lived up to their word; from saving us hundreds of dollars in overall monthly fees to even going so far as to customize their online Practice Management Bridge for a special feature we requested.”
“I would like to compliment Rectangle Health. The customer service has been top notch and your representative is always quick to return our calls. The payment software is great and has made collecting form our patients so easy. We would recommend any medical practice to use Rectangle Health!”
“Since we started to use the program, we have had an immediate and noticeable improvement in patient payment at the time of treatment. Transitioning to Practice Management Bridge has alleviated hours of extraneous work that was unavoidable with our previous retail terminal. In addition to the invaluable improvements in our practice management, Rectangle Health has saved us money by lowering our processing rate.”