TSYS Acquiring Solutions Signs Processing Agreement
Las Vegas and Tempe, Ariz., April 17, 2007 — TSYS Acquiring SolutionsSM, the pre-eminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry, announced today, at the Electronic Transactions Association (ETA) Annual Meeting and Expo in Las Vegas, that it has signed a merchant-processing service agreement with mPay Gateway.
mPay Gateway, based in Minneapolis, Minnesota, provides web-based management software to health care providers. This software enables providers to secure payment from patients at the point of service who have deductibles under Consumer Driven Health Care (CDHC) plans.
"Health care providers need a single-source solution that will work for all patients regardless of payer affiliation," says Mark Tierney, CEO of mPay Gateway. "mPay provides a POS terminal that allows providers to submit a claim for real time settlement whenever possible, and for a delayed settlement when necessary. Today providers do not have that capability. mPay changes all of that with its software and business processes allowing the provider to identify the patient responsibility early in the revenue cycle. Working with TSYS Acquiring Solutions, mPay then allows this patient collection to occur at the point of service. Estimates indicate that these new CDHC payment transactions represent $3.4 billion in annual revenue opportunity to the financial service companies that can capture them."
"We are pleased to partner with mPay Gateway to help them deliver a complete health care card processing solution," said Robert J. Philbin, president of TSYS Acquiring Solutions. "As CDHC continues to grow, we look forward to supporting mPay Gateway's efforts by providing secure and reliable support for their financial transactions."
The multi-year agreement was executed last month. Financial terms of the agreement were not disclosed.
About TSYS Acquiring Solutions
TSYS Acquiring Solutions is the pre-eminent supplier of acquiring solutions, related systems and integrated support services to the acquiring industry and its customers. TSYS Acquiring Solutions delivers comprehensive solutions and support that securely and reliably process billions of credit and debit transactions every year. From authorization and capture services to the clearing and settling of merchant transactions, critical customer support functions and information management services, TSYS Acquiring Solutions helps acquirers effectively manage and grow their merchant portfolios. TSYS Acquiring Solutions is a wholly owned TSYS® (NYSE: TSS) subsidiary. Additional information about TSYS Acquiring Solutions can be found at www.tsysacquiring.com.
About mPay Gateway
mPay Gateway is a business process software company which specializes in developing electronic payment solutions for the health care environment. It specifically focuses on card transaction payments between providers and patients. mPay Gateway provides the health care service sector, including hospitals and physicians, with business process software for patient responsibility payment transactions. The application includes a POS encounter estimator and terminal to process a co-payment, submit a claim for real time adjudication, and place an extended hold on an estimated authorization in the absence of real-time payer adjudication.
mPay Gateway is also a PCI-certified issuing card processor delivering multi-purse bankcard solutions and web-based tool sets to banks and health plans/TPAs. mPay's technology enables full and seamless integration between the purses on the card, insures appropriate use of those purses and provides real-time account balances.
mPay Gateway is committed to delivering integrated and comprehensive payment management software to providers, hospitals, health plans, TPAs, and banks that gives them more control, enabling them to reduce costs, drive operational efficiencies, and easily introduce these tools sets into their current systems
Contacts
Rebecca E. Brown
TSYS Acquiring Solutions
+1.480.333.7412
rebecca.brown@tsysacquiring.com
Shawn Roberts
TSYS
+1.706.644.6081
shawnroberts@tsys.com
Peggy Bekavac Olson
TSYS Acquiring Solutions
+1.480.333.7462
peggy.olson@tsysacquiring.com