Dive Brief:
- Payments processing giant Fiserv said on Monday that its small business-focused point-of-sale system Clover will offer a service specifically for healthcare providers for the first time.
- Clover will launch PracticePay, a payment system intended for use by small and medium-sized healthcare companies, in early 2026, a Monday news release said.
- The upcoming service is the result of a collaboration between Clover and Valhalla, New York-based software company Rectangle Health, according to the release.
Dive Insight:
Healthcare companies can currently access the same Clover service available to other businesses, but this will be the first time Clover will offer a product customized to a healthcare providers’ specific needs, a Fiserv spokesperson said.
The spokesperson declined to say how many of Clover's customers are in the healthcare field and whether or not Fiserv has worked with other healthcare companies.
Milwaukee-based Fiserv acquired Clover when it bought First Data Corporation in 2019. The point-of-sale service is mostly known for working with restaurants and retailers.
The payment processing company has ambitious goals for the Clover platform, and has taken recent steps to expand its scope, including targeting high-end restaurants and partnering with buy now, pay later company Klarna to offer installment loans.
PracticePay will be designed to comply with the data and privacy laws that govern the healthcare space and will offer an array of payment features to healthcare consumers, including recurring billing and financing options, as well as payment through text messages, QR codes and online payment portals, the news release said.
The upcoming platform will be available for a range of healthcare fields, including primary care, dental and behavioral health, according to the news release.
“Healthcare is an important vertical for the banking industry, and with this new solution, we are enabling our financial institution partners to better serve a critical customer base within their communities,” Katie Whalen, senior vice president of small business strategy for Fiserv, said in the news release.
