The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), is proud to announce that the Benefits Debit MasterCard and Benefits Visa Debit Card have been recognized as winners in the 2013 Paybefore Awards.
The Benefits Debit MasterCard and Benefits Visa Debit Card were recognized in the “Best Benefits Distribution Card Program” category. Plan participants have the ability to pay for services with their debit card rather than paying out of pocket and submitting claims for reimbursement. Using the debit card, cardholders have the ability to view and monitor transactions real-time online through Alegeus’s WealthCare Portal or WealthCare Mobile applications. Alegeus offers a fully integrated imaging solution which allows participants to simply fax or upload a receipt that is automatically linked to the transaction in the system. The technological innovations of Alegeus’ solution are primarily driven by their configurability of the order of reimbursement, plan level rules, and plan level settlement capabilities with employers.
Paybefore Awards, now in its seventh year, is the most prestigious recognition of excellence in the worldwide prepaid and emerging payments industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives.
“We are honored to share this recognition with Alegeus Technologies,” said Jeremy Kuiper, Managing Director, The Bancorp Bank. “This program offers unique plan designs to meet the most unusual or creative of consumer directed benefits."The winning programs were selected by a panel of five industry experts who served as judges for this year’s competition, which—once again—included a record number of entries from around the world. “Paybefore Awards were created to honor the companies and individuals that are at the forefront of innovation as well as successful market implementation across the globe,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel.