Visa knows payments. CareGrove knows senior living. Together, we can serve senior living better.
And we solved the cost problem! See details below.
Visa and CareGrove share Industry knowledge about payments in Long-Term Care
78% of Family Members would like the option to pay with a credit card online.
CareGrove powered by Visa implements solution to help Senior Living offer contactless payments.
CareGrove and Visa Look to Bring Modern FinTech to Senior Living Communities.
We solved the cost problem.
This program gives senior living communities the ability to charge a cardholder fee to residents and families who pay online.
We fixed it:
Percentage based fee allowed
Different fees can be charged for credit, debit, ACH
Passing fees allowed on recurring payments
Passing fees allowed on face-to-face transactions
Before:
Only flat or fixed fee charged
Same fees for credit, debit, ACH in the same channel
No passing fees allowed on recurring payments
No passing fees allowed on face-to-face transactions
Convenience.
Eliminates the hassle of writing checks and enables the resident to set up automatic recurring payments.
Flexibility.
Gives residents and families a choice of payment options.
Security.
Gives residents and families an extra level of protection with Visa’s Zero Liability Policy.
Rewards.
Residents can turn payments into miles, points or cash back if they have a rewards card.
CareGrove gives insight on moving forward toward the new normal for payments after COVID-19.
Rental markets as of April 2020 were down 30%. Many have adopted an online payment solution to give their users the ability to pay with their credit card.
— Senior Living Benefits
Increased efficiencies with reduced paperwork and less time processing checks.
Reduced delinquencies with automated payments.
Fewing billing inquiries and reduced write-offs.
Better cash flow with real-time payout.
Accessible Payment option that makes it easier to close sales on the spot.