The new multi-purse card will allow an employee to use a single debit card to access health savings account, health reimbursement arrangement and flexible spending account funds to pay for healthcare costs at locations like a doctor’s office or pharmacy.
Craig Keohan, president of First Horizon Msaver, said that the integrated product offering would appeal to health plans, third party administrators and correspondent banks that are seeking multi-purse healthcare and benefits payment card solutions.
Duane White, group executive for healthcare at TSYS, said: We view this relationship as a powerful market combination. This was a unique opportunity to work closely with one of the leading innovators within the healthcare financial field to develop the next generation integrated payment product. Combining our processing capabilities with the marketing capabilities of First Horizon Msaver should be a winning strategy.
