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.
“It’s a dynamic time in electronic payments as companies like The Bancorp Bank and Alegeus Technologies continue to innovate to solve payments problems,” she continued. “We are proud to recognize its contributions to advancing the prepaid and emerging payments industry.”The winning programs will now vie for Best-in-Category distinction, which will be announced during the Paybefore Awards ceremony on March 4 at the Prepaid Expo ( www.prepaidexpousa.com). And for the first time in Paybefore Awards history, visitors to Paybefore.com will have a chance to vote on Best in Category. The outcome of this vote (counted as one-sixth of the total) will be combined with the five judges’ picks to determine Best-in-Category honorees. About The Bancorp Bank Payment Solutions Group: The Payment Solutions Group is a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc., and is a leading issuer of network branded prepaid cards. Through long-standing relationships with card associations, industry leading networks and processors The Bancorp consistently delivers cutting-edge, innovative programs that are re-shaping the payments landscape. For more information about how The Bancorp Bank Payment Solutions Group is “Changing the Way America Pays ®" visit www.thebancorp.com. About Alegeus Technologies: Alegeus is the leading provider of benefit administration and payment processing technology in the consumer directed healthcare (“CDH”) market, an important and growing component of the U.S. healthcare system that connects patients, payers and providers. Over 500 clients including third party administrators, health insurance plans and financial institutions leverage Alegeus’ deep expertise and proven technology in benefit administration and payment processing to serve over 60,000 employers and 11 million CDH account holders. The Company’s consumer directed healthcare administration platform helps clients improve relationships with employers and their benefit plan members. Alegeus’ payment output solutions provide seamless flow of funds and information among patients, payers and providers. The Company is headquartered in Waltham, MA, with operations in Carrollton, TX and Milwaukee, WI.
About Paybefore: Paybefore is the leading information provider to prepaid and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore’s family of industry publications includes: Paybefore.com; Paybefore News; Paybefore Mobile™; Paybefore News International™; Paybefore Update™; Paybefore Legal™; Paybefore Magazine™, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global prepaid and emerging payment industry; and the only industry directory, Paybefore Buyer’s Guide Connections™, available online and in print. Visit us at www.paybefore.com .