New Agreement Includes Exclusive Healthcare Partnership

One of the world’s largest outsourcing payment companies, TSYS, has recently announced the signing of a long-term agreement with U.S. Bank. This means that TSYS will continue their support relationship for the bank’s commercial card payment services, and additionally TSYS will take on an exclusive arrangement to provide card processing for U.S. Bank’s Consumer Directed Healthcare (CDH) benefit cards. The benefit cards are issued by the bank’s Healthcare Payment Solutions section.

Healthcare Payment Solutions offers innovative yet simplified methods of both processing and receiving payment, thereby strengthening and streamlining the process for all participants in the healthcare industry.

A major benefit of the agreement is that it means that cardholders will ultimately be able to access their cash and credit lines all from one single card. With consumers looking to manage and better balance their finances and their healthcare spending, this was an expansion track the bank knew it should take.

For its part, TSYS noted that it looks forward to continuing to work with U.S. Bank and to developing cost-effective payment choices for the healthcare program.