MTFX Group Launches PayMyMedicalCare, Expanding their Innovative International Payments Platform into Healthcare
March 3rd, 2020 – Toronto; Jersey City: MTFX Group, a leader in corporate foreign exchange and global payments, today announced its launch of PayMyMedicalCare (PMMC), a new industry vertical within the MTFX Group’s set of solutions, enabling them to expand their footprint into international healthcare payments for the first time. The launch of PMMC will allow the company to bring their next-generation payments technology into a new industry vertical to aid in elevating the friction that exists within international healthcare payments today.
“Expanding into international healthcare payments, by way of PayMyMedicalCare, has been an ambition for us for the last few years,” said Arif Harji, Chief Market Strategist at MTFX Group. “Our vertical-specific solutions that we have developed for corporations, travel and education, have paved the way for us to build onto our global payments infrastructure and aid in improving healthcare payments with an efficient and cost-effective alternative.”
The healthcare payments category is riddled with challenges affecting both customers and patients. Inefficiencies commonly develop due to limited acceptance of payment methods, mistrust in the billing system, paper based and manual ways of doing business, supplier’s system of records and major issues within the billing cycle.
PMMC will now enable partner healthcare institutions across North America with a unique customer-first payment solution focused on speed to market, cost efficiencies and overall data transparency. This combined with MTFX Groups industry-leading 24/7 customer service will remove the friction that is synonymous with settling healthcare payments across borders.
MTFX Group has already onboarded several healthcare industry clients across the United States and Canada. They are anticipating significant growth within the next 12 months for this new vertical within the company.
MTFX Group is a leading provider of integrated cross-border payments and receivable solutions. As a trusted partner for more than 24 years, MTFX Group delivers innovative solutions and processes billions in payments yearly. MTFX Group offers award-winning capabilities and industry leading technologies in just about every business category. We support our clients with end-to-end multilingual customer support and online payment tracking capabilities that are available 24/7. As a proven payment disruptor, we are flexible and responsive, with offices and applicable licensing and regulatory approval in the United States and Canada.
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Who can use the MTFX payment service?
Individuals and businesses who need to send money in foreign currency internationally can use MTFX’s services. The beneficiary of the transfer must have a bank account for the funds to be paid into.
Personal clients usually use our services to transfer money between their own accounts in two different countries.
Business clients usually use our services to transfer funds to suppliers, fund international operations, or repatriate overseas earnings.
Why should I use MTFX and not my own bank?
MTFX offers currency exchange rates that are 2-5% better than those offered by the banks. Personal clients usually save hundreds of dollars per transfer and for larger transfers, the savings can run into the thousands.
We also offer excellent customer service, dedicated currency specialists, and a 24/7 online platform with best-in-class technology that allows you to complete transfers from any device virtually anywhere in the world.
Business customers save with better currency exchange rates and proven solutions geared towards managing and mitigating foreign exchange risk. Our solutions include forward contracts, market orders, rate alert services, and much more - all backed by great technology and great people.
How do customers send funds to MTFX?
Funds can be transferred via wire transfer, Electronic Funds Transfer (EFT), or ACH payment services. MTFX maintains bank accounts in all major currencies with highly-rated banks. Our banking infrastructure ensures that you can transfer funds to us quickly and securely.
How long does it take MTFX to transfer funds?
Our global network of banking partners allows us to get funds to virtually anywhere in the world quickly and efficiently. Most wire transfers from MTFX will be received by your beneficiary within 24-48 hours. MTFX also offers same-day transfers that are almost instantaneous, as well as low-cost in-country payment services for your less urgent transfers. For further information please speak to one of our currency specialists.
Please read the following update before logging in to your MTFX online account
We have updated our online dealing system to provide you with better functionality, more unique tools and an overall enhanced client experience. MTFX Online 2.0 is now available for your dealing needs. You can begin using our enhanced online portal today.
Please note that the traditional portal will be available for use until MAY 30th 2021 at which point it will be decommissioned.