HIPAA-compliant online payments have allowed counselors, psychologists, and therapists to take an important step towards providing mental health services to patients across the globe. In this article we would like to introduce Inkblot, a Toronto-based virtual mental health service that has made waves during the trials and tribulations of the pandemic, allowing patients to receive mental health services through their virtual platform, pay for healthcare services online, and ultimately access support from almost anywhere in the world.
2020 Put Mental Health to the Test
At Solvit, we are especially interested in promoting companies that have creatively utilized technology to address the most difficult challenges the human race has faced during the COVID-19 pandemic. Its no secret that the past year has been hard on everyone from a mental health perspective, and coupled with that has been reduced access to in-person mental health services.
The emergence of digital therapy services and telemedicine solutions has ushered in a new era of accessibility and privacy in the mental health profession. Solvit aims to provide reliable payments solutions for mental health services to compliment this emerging industry variation.
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Enter Canadian mental health company “Inkblot.”
Inkblot’s view is that, “mental health support doesn’t have to be expensive, intimidating, or impossible to access.” They offer virtual mental health services that allow patients to, “beat the stigma and receive affordable support, without long waits, from the comfort of (their) own home.” With over 950 trusted practitioners to choose from, Inkblot has become a referral option for over 750 physicians, and provides mental health services to over 1 million employees. They are truly reimagining the mental health industry.
Are you looking to accept payments online for your mental health company?
Selecting HIPAA-compliant payment solutions for therapists can be challenging. At Solvit, we are committed towards providing the most secure, dependable payments software available to help ensure the safety of your patients’ information. While that is only part of the equation for running a virtual mental health company, it is a critically important component of a successful online mental health service.
At Solvit, we are promoting these “Solvit Success Stories” with the hopes of helping businesses re-discover the the beautiful will power and resolve of the human race, and to see how businesses are utilizing technology ranging from eCommerce stores to the ability to create a free invoice online to overcome challenges. These businesses are not necessarily partners or merchants that we work with, rather, we were just inspired by their stories and want to share that inspiration with you.
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Have you ever had to be on the waiting side of a past due invoice? We have too. It’s a challenging situation, because you need to apply the right amount of pressure to get paid without stressing the relationship with your customer. Thankfully, at Solvit, we have solved this dilemma for you with Solvit Invoicing.
Start accepting credit cards for construction jobs
The biggest concern for most construction contractors about accepting digital payments are the credit card processing fees. We get it. Paying 2.9% of all of your income towards processing fees is a significant expense, one that cannot be ignored. However, if you have ever pushed expenses onto a credit card because you are waiting for that big check to come through, then you know that you are accepting high-interest debt over relatively low cost for processing cards.
Let’s compare the costs:
Let’s say your customer owes you $10,000, and you need to buy $10,000 worth of construction materials for your next job.
Without accepting cards
If you put $10,000 on a credit card with a 20% interest rate and don’t start paying it off for a year, you will owe $12,194 by the time you start making payments.
With accepting cards
If you accept a credit card payment at 2.9% (our fees are often lower), you will pay a one-time fee of $580 and have the remaining money in your pocket.
Wouldn’t you rather that your customer takes on credit card debt instead of you?
Protect your relationship with your customer
If your customer can pay you using their desired payment method, that will make life easier on them. They might not have enough cash on hand to pay you what they owe you, but if they can pay with a card, they are more likely to pay. That saves you from having to hassle them about the money that they owe you, and protects your relationship as a result.
Solvit Invoicing allows you to quickly send a digital invoice to your customer and let them select their desired payment method. Giving your customers options is a great way to keep them happy, and happy customers are likely repeat customers. This also helps to avoid the worst situation of all: the customer that owes you but cannot afford to pay you, so they hire someone else for the next job hoping to pay you with the profits from the new job. Nobody wants that. Start accepting credit cards and make life easier on everyone!
Surcharging is the key to getting the best of both worlds
Solvit Surcharging allows you to pass a designated portion of the credit card processing fees on to your customers while still offering a no-fee debit card option if the fees are a problem for them. That way, if a credit card is more convenient for them, they can choose to cover the cost of that convenience instead of passing it on to you. Do you really want to pay for your customers’ flyer miles after all?
Here is how Solvit Surcharging works:
If they pay $100 on a debit card, you receive $98.50 in your account.
Your Customer’s Fee: 0%
Your fee: 1.25% + $0.25
If they pay $100 on a credit card, you receive $100 in your account.
Your Customer’s Fee: 4%
Your fee: 0%
Get Paid with Solvit Invoicing
Create your free Solvit Account
Your free Solvit Account will give you access to our business boost toolkit, allowing you to:
Start sending digital invoices
Start accepting payments
Build an eCommerce site
Market your business online
Add a payments terminal or POS system
…and much more!
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