Metavante Announces Benefit Payment Systems Acquisition

January 15, 2008 ( - Metavante, a financial services payment systems provider, announced plans to acquire BenSoft Incorporated, of San Diego, California, and its product, RepayMe.

A Metavante news release said the   Milwaukee, Wisconsin-based firm will integrate RepayMe into its existing Healthcare Payment Solutions suite of products.   RepayMe provides a Web tool for individuals in benefit programs to obtain reimbursement for eligible expenses.

RepayMe is designed for third-party administrators (TPA), health plans and self-administrating employers looking for a solution for flexible spending accounts (FSA), health reimbursement accounts (HRA), health savings accounts (HSA), and transportation (parking) accounts, the announcement said.

“As the health care market moves toward more consumer-driven health care plans, the marketplace is demanding a single integrated benefit administration solution for FSAs, HRAs, HSAs, transportation spending accounts, and related benefit services,” said Frank D’Angelo, president, Metavante Payment Solutions Group, in the announcement.

More information is at .