Payments Tailor-Made for Healthcare
Pay Theory focuses on what we call “Must Pay”—industries people must access whether or not they have the money. At the top of the list stands healthcare. We are building payments not for the needs of retail or eCommerce but for the unique challenges of healthcare.
Thinking Differently About Payments
Pay Theory offers three classes of tech wrapped in one solution: Functionality designed specifically for healthcare, hard-to-find features, and standard features you'd expect from a payments company.
Inclusive Payments
Accept card, ACH, and cash! Digital payment solutions have made paying with cash a real problem. We work with what we call “must-pay services” to help remove barriers between families and organizations by providing payments solution built for everyone.
Information Hierarchy
Most payment solutions don’t allow you to see ‘sub-merchants’ information. For example, a hospital could see what each location is doing but they wouldn’t be able to see individual transactions. With Pay Theory, they can.
Contained Systems
Every Pay Theory client is run on a unique isolated environment, causing their payment solution to be unaffected by other systems. Should one system go down, your system is untouched and keeps running smoothly.
Multiple Bank Accounts
Most payment solutions don’t allow you to associate various bank accounts per client. Now you can, with Pay Theory. This is a huge win for healthcare systems and all complex networks.
Underwriting
Don’t let this be a barrier to offering payments. We work with experts in fields like healthcare, pharmaceuticals, telehealth, and more to ensure that we are able to safely and securely underwrite must-pay industries.
Transactional Meta-Data
Create A-ha moments by combining your data models with Pay Theory’s data models.
Revshare
Our SaaS partners have the opportunity to share in the payments revenue. That means not only do you get a new feature without the developmental costs, but you get a new revenue generating feature.
Tailored Implementation
More than a form! We break down implementation into 4 sections; Financial Solutions, Technical Success, Team Training, Payments Go-To-Market.
Level 2/3 Processing
Enhances transaction detail and eligibility for lower interchange rates with Level 2 and Level 3 processing.
To see a full list of our offerings, visit our Products and Services page.
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Embedded Payments
Unique mix of websocket based SDK’s and GraphQL APIs make it easy to build the payment flows of your dreams. Get paid more (often) and eliminate barriers to payment.
API’s
Power payments data presentation in your solution.
PCI Level 1 Compliance
Enjoy peace of mind with the highest and most stringent level of Payments Security certification (PCI level 1).
Recurring Payments
Build payment flows that get you and your customers paid more often. PayTheory’s Recurring Payments infrastructure powers your subscription, payment plan, and card-on-file payments.
Building for the Needs of Healthcare
Addressing Seven Trends in Healthcare
Core to our mission is the flourishing of HealthTech. We know how to simplify money movement and build for healthcare’s unique financial and compliance risks so everyone can easily access the healthcare they need.
Payments Tailor-Made for Healthcare
Pay Theory focuses on what we call “Must Pay”—industries people must access whether or not they have the money. At the top of the list stands healthcare. We are building payments not for the needs of retail or eCommerce but for the unique challenges of healthcare.
Healthcare providers generally need an eligible healthcare Merchant Category Code, or MCC, and a payment processor configured to accept HSA and FSA cards. Most eligible medical providers do not need an IIAS. Retailers outside eligible healthcare categories may need an Inventory Information Approval System, while qualifying pharmacies may use the 90% rule. Pay Theory helps healthcare platforms build payment acceptance around the specific requirements of healthcare merchants.
To accept HSA and FSA payments, a health business or software platform needs eligibility handled at the payment layer — the right merchant-category setup and compliant payment flows that recognize which purchases qualify. Pay Theory sits at that acquirer/processor layer, building compliant HSA/FSA payment flows behind the scenes for platforms to embed into their software. Healthcare-defined merchants (doctors, dentists, urgent care, vision, and similar) generally need no special setup, while retailers outside those categories may need an IIAS and qualifying pharmacies can use the 90% rule. For SaaS platforms, HSA acceptance is often simpler to enable than full FSA support, since an HSA card can technically be used anywhere.
