Westpac Boosts Healthcare Payments

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Sydney, Nov 2: Westpac, one of Australia’s leading banks, has taken a significant step towards bolstering its presence in the healthcare sector by agreeing to acquire HealthPoint, an electronic health claims processing business.
This strategic move aims to enhance Westpac’s payment offerings and better support small business and commercial customers in the healthcare industry, including general practitioners, physiotherapists, and various specialists.
The acquisition will enable these healthcare providers to offer on-the-spot e-health claiming services to their patients.
HealthPoint plays a crucial role in the industry by providing real-time private health claiming services at the point of sale.
This not only benefits healthcare providers but also connects consumers and financial institutions, creating a seamless ecosystem for health-related transactions.
The decision to integrate HealthPoint’s e-claiming solution into Westpac’s merchant services reflects the bank’s commitment to providing comprehensive banking solutions for its business customers.
Anthony Miller, Westpac’s Chief Executive of Business & Wealth, emphasized the importance of the healthcare industry, which contributes significantly to Australia’s economic activity.
He noted that healthcare’s role is expected to grow in the coming years, making it a strategic focus for Westpac.
As part of this acquisition, Westpac plans to invest in building a leading customer experience for private health funds utilizing e-health claiming.
This move underscores the bank’s dedication to improving customer service and strengthening its position in the healthcare payments sector.
HealthPoint will continue to operate as a subsidiary of Westpac Banking Corporation, ensuring continuity of services to its existing partners.
However, the acquisition is subject to approval by the Australian Competition and Consumer Commission and other conditions precedent.
Westpac is well-known for offering a wide range of products to meet the payment needs of merchant customers.
These include EFTPOS Now smart terminals with instant settlement capabilities and the ability for small businesses to wirelessly connect their terminals to over 100 cloud point-of-sale providers through the Presto app.
Furthermore, merchants can accept payments on the go using the EFTPOS Air app, compatible with iPhones and Android devices.
With this strategic acquisition, Westpac is set to play a more significant role in the evolving healthcare payments landscape, ensuring that healthcare providers and their patients can enjoy efficient and convenient e-health claiming services.

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