Telemedicine Merchant Accounts
We provide merchant accounts for a wide range of telemedicine merchants
Signature Payments has been providing merchant accounts to businesses for over 20 years. As experts in the industry, we have a team of in-house specialists able to help you get your telemedicine merchant account approved.
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What is a Telemedicine Merchant Account?
A telemedicine merchant account is a merchant account for medical providers who treat patients remotely. Telemedicine has seen a sharp rise in popularity over the last 5 years with a significant jump in 2020. Telemedicine is an additional channel for delivering medical and healthcare services, unfortunately telemedicine businesses are considered high risk and most processors can’t or won’t work with these merchants.
There are a few risk factors associated with telehealth merchants that put them in high risk category. Those risks include:
1. Chargebacks: Businesses that provide consultations and not tangible goods, such as in telemedicine, are more prone to a higher number of chargebacks.
2. Fraud: Because telemedicine merchants process card not present transactions where the card cannot be visually verified by the merchant, telemedicine merchants are more likely to be victims of fraud.
3. Compliance: Telemedicine merchants require enhanced due diligence in order to properly vet any claims.
Securing a merchant account for a telemedicine business requires a payment processor who specializes in high risk businesses and understands the unique needs of telemedicine merchants. Signature Payments has a long history of serving telehealth merchants and our experience in the high-risk space uniquely positions us to provide the solutions and support you need to grow your business.
With Signature Payments you get…
Our online merchant application can be completed quickly and easily in just a few minutes.
Our application review process is quick and easy so you can begin accepting payments in no time.
No Hidden Fees
Our team will work hard to get your account approved at the lowest possible rates with no hidden fees or extras.
We work with multiple banks and offer both domestic and offshore solutions to give you the flexibility you need.
Telemedicine Frequently Asked Questions
What types of telehealth businesses do you accept?
Signature Payments accepts a wide range of businesses including telemonitoring, tele-education, teleconsultation, tele-training and telecare.
Is Signature Payments compatible with my existing telehealth software?
Because Signature Payments works with most major payment gateways (including Authorize.net, ePN and NMI), our merchant accounts integrate with most software. If you have questions about a specific software, please reach out. We’d be happy to answer your questions.
Is Signature Payments a SIGIS member?
Yes. Signature is a registered SIGIS member. SIGIS is a program for eligible healthcare merchants that want to accept FSA or HRA cards. Visit https://sig-is.org/about-sigis for additional information.