Bank of America (BoA) is getting the German health care payment and tech firm Axia Technologies for an undisclosed sum since the financial institution (FI) attempts to advance its own payment options to health care customers.
Mark Monaco, head of business payments at Bank of America, stated in a media release that Axia also called AxiaMed matches the lender’s knowledge base and offers with its”excellent domain experience and technologies.” Both firms also”discuss a vision” of providing innovative payment technologies to their clientele.
“Working together we could leverage our combined experience and abilities to provide an extensive assortment of settlement and payment solutions to our health customers and their patients,” Monaco said.
The tie-up a part of BoA’s bigger mission to incorporate merchant solutions using its stage following a planned joint venture fizzled out.
AxiaMed was set in 2015 to allow healthcare providers to provide pupils an omnichannel, end-to-end gateway, and terminal applications alternative for payments.
He added that a lot of the organization’s customers and partners currently utilize BoA’s services and goods.
“We continue to invest to let clients with expanded capabilities and flexible choices fulfill a range of company requirements within an integrated and transparent way that puts the client first.”
The January healthcare report by PYMNTS, together with Rectangle Health, suggested that physicians and health care systems saw their earnings freefall this past year. A poll revealed that 45 percent of individuals stated they’d rather stay home than visit a medical appointment unless it was totally required. Folks put off all sorts of screening and standard health visits since the pandemic took hold.