November 12th, 2013 by Elma Jane
Since Medical Transcriptions is one of the product and services by National Transaction Corporation under National Transcription Corporation I just want to share this topic.
The abuse of the medical credit card system is growing by the day because many doctors are making these cards appear like an in-house payment program. Most patients are inclined to pay their doctor for their services directly, but they are more hesitant when a credit card is involved. Some medical professionals are masking the true source of their lending services and thus putting their clients at risk.
An example of this form of abuse can be seen by a company called CareCredit. Nearly 90% of New Yorkers in the CareCredit program opted for a program with no interest if the amount was paid in full. A quarter of them ended up paying 26.99% interest on their accounts instead. CareCredit has more than seven million cardholders nationwide, and it is currently the defendant in a variety of civil lawsuits.
If you are offered a chance to take to a credit card to cover your medical expenses, you should fully research the card before signing on the dotted line. Fully understand the terms of the card before agreeing to anything so you don’t end up in heavy debt.
Medical credit cards are designed to help people pay for procedures they may not be able to afford on their own. These cards give patients a chance to undergo the procedures their insurance may not pay for, as well as giving the doctor the opportunity to get their money right away.
While this may seem like a great setup, most patients are pressured into getting medical credit cards without knowing the excessive costs sometimes associated with them. They can fall into a debt trap very quickly.
Posted in Credit card Processing, Electronic Payments, Medical Healthcare Tagged with: amount, cards, clients, credit-card, debt, doctors, heavy debt, interest, lending, medical transcriptions, money, paid, patients, payment, procedures, professionals, risk, services, signing, system, terms
October 31st, 2013 by Elma Jane
Ingenico Biometric Credit Card Terminal with EMV Chip and PIN Processing NFC.
Ingenico’s new biometric payment device (the iWB 220) is to be used in a pioneering project, to bring financial support to low-income families.
Payment solutions provider, Ingenico are to deploy Ingenico´s biometric solution in Colombia and the Dominican Republic, together with Carvajal Tecnología y Servicios, a player in the electronic payment industry in Latin America,
This biometric point of sale solution complies with the Image Quality Specifications for single finger capture device defined by the FBI, the United States Federal Bureau of Investigation.
In addition to high security standards, the solution is a mobile device with an embedded Magstripe, as well as Chip & PIN readers.
Upon government approval for each of the applications, funds will be sent to the banks and through the use of these unique devices, beneficiaries can withdraw their funds, with the use of a fingertip. Approved family members are the only ones able to withdraw the funds, and the government is assured that the benefit is being paid to the right person.
Posted in Credit Card Reader Terminal, Credit Card Security, Electronic Payments, EMV EuroPay MasterCard Visa, Payment Card Industry PCI Security Tagged with: banks, biometric, capture, Chip & PIN, deploys, device, electronic, finger, fingertip, funds, ingenico, iwb220, magstripe, mobile, paid, payments, readers, solution, withdraw
