Technorati Tags: Debit cards,IRS,Taxes By Consumer Driven Market Report (used with permission) Hundreds of drug stores and retail merchants are holding their breath over a coming train wreck if the IRS refuses to recognize the CDH debit card system used in virtually all major retail outlets. Right now the IRS has given no sign it [...]
By Ric Joyner, CEBS, GBA, CFCI eflex is experiencing an increase in requests for substantiation by our software and debit card systems. Our research shows that Wal-Mart uses two separate data bases for inventory control of FSA (flexible spending account) debit card swipes. To define further, the debit card is swiped at the point of [...]
Ric Joyner Evolution Benefits will announce sometime this week they are purchasing SmartFlex. Evolution Benefits and SmartFlex are debit card providers for consumer driven plans. The "pre-paid" card industry is experiencing roll ups. Roll ups are acquistions and mergers. The top players are: Metavante/MBI Healthcare Payment Systems Evolution Benefits SmartFlex First Data When purchasing [...]
We continue to see a very positive overall response to the IIAS technology. Since December 1, 2007, we have seen over 500,000 IIAS formatted transactions. Of those transactions, roughly 97% have been successfully authorized. As we have communicated, we have seen some issues with the overall IIAS technology since going live. This email is aimed [...]
Folks as you know, debit cards are impacted by the new IIAS system that was put in place January 1st. In late 2007, the IRS determined that debit cards needed more verification, and thus required the use of a system that would “flag” the item as ok for payment in a flex plan. Prior to [...]
Important update regarding the debit card please click here for the pdf. Click here for SIGIS: Special Interest Group for IIAS Standards An Industry Standard for IIAS Compliance documentation.
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