Small- to mid-size benefit administrators, with their own proprietary platform that want the freedom to differentiate themselves, face one key hurdle—benefit card payment processing. Benefit card payment processing has traditionally been the domain of large benefit administrators with the financial resources to both attract large payment processors and to afford the hefty processing fees that go along with those relationships.
Benefit administrators frequently have to establish a costly payment technology services relationship and work with a processor instead of using their own platform. Now there is a solution which links administrators directly to the processor and allows administrators to save money —all while differentiating themselves. Administrators are able to use their own platform instead of having to use a pre-packaged platform that is similar to competitors.
UMB Healthcare Services offers a full suite of multi-purpose benefit card management services, including issuing, processing and administration. Services like this can help benefit administrators save both time and money and generate financial success for their clients and customers.
To read more on UMB’s new benefit card payment processing, click here‡.
Learn more about UMB Healthcare Services, which ranks fifth in total accounts and seventh in total deposit and investment assets among all HSA providers (Source: 2020 ‡Year-end HSA Market Statistics & Trends Report‡).
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