Payment Processing Security

Payment Processing Security

Secure payment processing is the foundation of all electronic transaction processing, and Rectangle is committed to keeping you and your patients safe from the real threat of credit card fraud and identity theft.

The privacy of your patients — and the security of your practice — are of paramount importance to Rectangle Health. Focusing only on the healthcare provider industry, Rectangle zeroes in on those areas of concern affecting the healthcare industry.

Beyond PCI Compliance for Healthcare

Securing the ongoing safety and integrity of your patients’ personal and financial information is not only a HIPAA and SOX issue, but it also makes good business sense. The consequence of a data breach is more than imposed fines – it can cost your organization its hard-earned reputation.

Payment Card Industry (PCI) compliance is the security foundation of all electronic payment transactions and it is your organization’s responsibility to demonstrate compliance on at least an annual basis. With Rectangle Health, the audit to determine compliance is always simple because patient payment information is completely hidden from your systems with technologies that encrypt and tokenize data. The corporate security strategy offered by our platform is among the most robust in the credit card processing industry.

P2PE Solution
Rectangle Health’s PCI-validated point-to-point encryption for healthcare payment (P2PE) secures payment data by using advanced encryption technology. Cardholder information is immediately converted at the point of sale and travels through transaction systems in an unreadable format – rendering it useless to hackers. The card information can only be decrypted when it reaches our secure network. Because clear-text data is never in your systems or software, your organization has the maximum protection against payment information misuse.

Tokenization
Tokenization allows your healthcare organization to securely store payment information online for automatic payments and payment plans. After payment information is decrypted, it can be stored in a secure vault in our system. Randomly generated sets of numbers are created as tokens – which act as keys to unlock payment information for future transactions. As with our P2PE solution, tokenization provides gold-standard security to ensure your patients’ data is protected.

Total healthcare payments security
Rectangle Health’s points of PCI compliance for healthcare with specific HIPAA considerations include:

  • Secure processing — Once processed, the card number is not visible

  • Complete liability protection – Rectangle Health ensures security integrity from the moment a transaction is transmitted

  • Card information is never stored on your computer or servers

  • No quarterly security scans or audits of systems are necessary

  • Comprehensive disaster protection with eight backup systems located in the U.S and Canada, as well as backup generator facilities

  • Integration with EHR and practice management systems automatically post payments to patient ledgers

  • Healthcare industry payment expertise – Rectangle Health works exclusively with medical providers

Rectangle Health partners are guaranteed:

  • Secure payment and credit card processing

  • Credit card processing fraud protection

  • Adherence to payment and credit card processing regulations

Regulations Directly Affect Healthcare Providers Include:

All healthcare providers must be vigilant when it comes to online fraud detection and prevention.

There are several basic credit card fraud protection tools available:

Address Verification System (AVS) verifies the identity of the person making the transaction by comparing the billing address they provide with the address on file at the financial institution that issued the credit card.

All codes provide an effective starting point for protecting your business against credit card fraud. Rectangle Health also offers secure accounts and web-based solutions for practices of all sizes to use for online credit card processing. With our portfolio of e-commerce solutions and payment processing services, healthcare providers can benefit from a tailor-made approach that meets their needs, even as they grow or their requirements change.

IRS MANDATE (Section 6050W)

Healthcare providers are required to report annual gross payment card transactions processed by credit, debit or co-branded cards and third-party network transactions to their merchant services providers, which pass the information to the IRS.

Durbin Amendment

Rules have been implemented lowering debit card interchange fees Visa® and Mastercard® networks charge merchants.

PCI Compliance

The Payment Card Industry Data Security Standard (PCI DSS) encompasses a set of requirements helping to ensure all merchants who process, store or transmit credit card information maintain a secure transaction environment.

Fraud and Protection

Why is compliance necessary with PCI security standards?

Compliance — an ongoing and evolving process — with the PCI Data Security Standard (DSS) means your systems are secure and that your patients can trust your practice with sensitive payment card information. Compliance helps prevent and protect you from security breaches and data theft of card payment data.

Online Fraud Protection

All healthcare providers must be vigilant when it comes to online fraud detection and prevention.

There are several basic credit card fraud protection tools available. Address Verification System (AVS) verifies the identity of the person making the transaction by comparing the billing address they provide with the address on file at the financial institution that issued the credit card.

All codes provide an effective starting point for protecting your business against credit card fraud. Rectangle Health also offers secure accounts and web-based solutions for practices of all sizes to use for online credit card processing. With our portfolio of e-commerce solutions and payment processing services, healthcare providers can benefit from a tailor-made approach that meets their needs, even as they grow or their requirements change.

Industry Regulations

Electronic payment processing is a highly regulated industry that deals in sensitive and private personal financial information. The goal of these regulations is to protect all parties involved in electronic transactions — cardholders, merchants, processors and issuing banks — from identity theft and fraud.

Rectangle Health stays current and compliant with all regulations, and we believe our healthcare providers should as well.

EMV Payments

Europay, MasterCard, Visa (EMV) is the best available technology for authenticating cards and cardholders, making cards virtually impossible to copy and reducing the possibility of accepting counterfeit cards. In fact, countries where EMV payments are the norm have seen drastic reductions in card-present fraud. EMV uses embedded microchip technology for authenticating credit and debit card transactions.

The chip embedded in the card stores cardholder data and creates unique value for each transaction. This dynamic authentication makes each transaction unique and more secure. Additionally, EMV chip card transactions may require the use of a PIN to authenticate the cardholder and results in a reduction in credit card fraud through lost or stolen cards.


EMV and Your Healthcare Practice

Healthcare practices that have not yet transitioned to EMV card acceptance should consider doing so 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.


Benefits of adopting EMV payment technology for your practice include:

Dual Verification

A chip card-enabled terminal validates the card, and the cardholder authenticates they are the card owner while the card is still in the POS terminal.

Fraud Reduction

Security features built into the chip reduce lost, stolen and counterfeit fraud. Unlike traditional magnetic stripe transactions, the EMV credit card terminals and chip-enabled cards work together to validate the card and cardholder.

Reduce Financial Liability

Prior to the October 2015 POS counterfeit liability shift, card-issuing banks were held responsible for any credit card. Since the shift, businesses that are unable to support chip cards are held financially responsible if a fraudulent transaction occurs.

Rectangle Health Guarantee

If you don’t see a dramatic reduction in accounts receivable balance after a few months of instituting our full program, we’ll take the entire system back at no charge to you.
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