TSYS Announces Agreement with Walmart to Implement New Payment Solution at Retail Locations Nationwide
March 07 2018 - 9:00AM
Business Wire
Payment Solution Recognizes Qualified Purchases
at Point-of-Sale Determined by Consumer’s Healthcare Plan
Total healthcare spending in the U.S. climbed to $3.4 trillion
in 2016 and is expected to reach $5.5 trillion by 2020.1 With these
costs on the rise, the adoption of wellness incentive programs by
healthcare plans is becoming very popular.
TSYS today announced that its new patent pending payment
solution, Advanced AuthControlSM, that recognizes qualified
purchases determined by a consumer’s healthcare plan, will be
implemented at Walmart and Sam’s Clubs locations nationwide. This
solution, combined with Walmart’s proprietary, point-of-sale
decisioning capabilities known as “Directed Spend,” enables TSYS
healthcare clients to provide incentive dollars to members through
their healthcare plan wellness incentive program.
A major benefit of the Advanced AuthControlSM is program
customization, linking customizable rewards to healthy behaviors.
Through the unique features of the new payment solution, TSYS
provides a wide range of options for where the rewards card can be
accepted, which is determined by merchant category and product
level.
“The addition of Walmart and Sam’s Club to our growing network
of retail providers is a huge testament to the capabilities and
benefits of Advanced AuthControlSM,” said Trey Jinks, Group
Executive, Loyalty, Healthcare & Emerging Markets, TSYS. “The
geographic coverage and breadth of merchandise these retailers
offer, combined with TSYS’ innovative payment solution, creates
tremendous opportunities to be healthy and reduce the growth in
healthcare expenses by incenting healthy and preventative behaviors
versus expensive treatments.”
“We care about our customers’ well-being,” said Mike Cook,
Senior Vice President and Assistant Treasurer, Walmart. “Through
this strategic relationship with TSYS, we’re able to leverage
Walmart’s extensive network of stores and our Directed Spend
platform to deliver enriched wellness incentive programs
conveniently, right in our customers’ neighborhoods — something
only Walmart can do.”
As part of the agreement, TSYS will promote Walmart and Sam’s
Club locations to its existing customer base.
About TSYS
TSYS® (NYSE: TSS) is a leading global payments provider,
offering seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management. We succeed because we put people,
and their needs, at the heart of every decision. It’s an approach
we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with
approximately 12,000 team members and local offices across 13
countries. TSYS generated revenue of $4.9 billion in 2017, while
processing more than 27.8 billion transactions. We are a member of
The Civic 50 and were named one of the 2018 World's Most Ethical
Companies by Ethisphere magazine. TSYS is a member of the S&P
500 and routinely posts all important information on its website.
For more, visit tsys.com.
1 Source: Centers for Medicare and Medicaid Services.
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version on businesswire.com: http://www.businesswire.com/news/home/20180307005412/en/
TSYSMedia RelationsCyle Mims, +1
706-644-3110cylemims@tsys.comorInvestor RelationsShawn Roberts, +1
706-644-6081shawnroberts@tsys.com
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