What is the MED Token

1. The consumer must opt into the MED Token terms: first for transaction approval, and second for data storage.

They are presented with an opt-in screen at the Point of Sale (POS), and once they agree to the terms, they are instructed to present their credit or debit card for payment.

2. MED Token de-identifies all of the consumer data and the POS relays the basic privatized data to the payment Acquiring Bank (Visa, Mastercard, AMEX, Discover)

3. The Payment Processor forwards the transaction details to the payment card’s Issuing Bank for approval.

4. Upon approval, the Processor debits the consumer’s account and pays the Acquiring Bank.

5. The consumer receives a statement from the Issuing Bank confirming the transaction using a unique acronym descriptor.

6. The acquiring bank credits the merchant's account, and a payment card transaction approval notification is received.

7. The Fluid Financial system creates a multi-use wallet containing an MED Token equivalent to the transaction amount.

8. The MED Token is issued to the consumer, who has previously consented to the process.

9. The token is automatically passed to the merchant, confirming full payment.

10. The merchant's Point of Sale (POS) system generates receipts for the transaction.

11. The MED Token ensures compliance with Cures Act regulations enforced by HHS, DOJ, and the Office of Civil Rights.

12. The MED Token achieves Cures Act compliance by de-identifying patient data and facilitating dual patient or third-party consent processes: the first for transaction approval and the second for data storage.

13. After completion, transactional data is securely stored in our tokenized vault for future retrieval by patients via a dedicated portal.14. The token is deployed via our merchant processing platform, utilizing the PAX terminal solution, whether through a standalone terminal or virtually.