In conjunction with UMB Bank, Motivano released the multi-purpose card, with which a customer will have access to multiple accounts – for everything from HSAs to parking accounts.
“The ability to have a ‘multi-purpose’ card that can separate HSA, HRA, and FSA funds is essential in the growing prepaid card industry. We are excited about the opportunity and functionality that Motivano’s SmartFlex program brings to this market,” said Dennis Triplett, UMB’s Executive Vice President of Lending Services, in a news release.
The debit card system for consumer-driven health plans has been growing in popularity as of late, as both employers and employees aim to reduce the amount of paperwork required.
“For health-care consumers, the prepaid card is quickly becoming a critical part of HSA functionality. Without the card, it’s a paper-driven process. Our SmartFlex card relieves the administrative burden that health-care providers and third party administrators face,” said Mark Keck, Motivano’s Executive Vice President, in the press release.
Motivano is a provider of electronic FSA, HRA, HSA, dependent care and mass transportation and parking prepaid card accounts as well as employee incentive and recognition programs. UMB Financial Corporation is a $6.9 billion holding company headquartered in Kansas City, Missouri.