Employees can tap, submit, and discover eligible benefits worldwide with fewer payment issues, faster reimbursements, and a more personalized experience.
Benepass, a global benefits capital management platform, today announced a series of product enhancements designed to bring the speed, transparency, and convenience of modern consumer payments to employee benefits. The updates improve the three ways employees use benefit dollars through Benepass: card payments, reimbursements, and personalized benefit discovery.
Employees increasingly expect benefits to work as seamlessly as the financial tools they use every day. Yet many benefit experiences still rely on slow reimbursement workflows, confusing eligibility rules, and frustrating card declines. According to WTW’s latest EX Intelligence Report, 84% of employees feel informed about their benefits, but only 61% are satisfied with their benefits experience.
Benepass is closing that gap by delivering three flexible ways for employees to spend benefit funds globally:
- The Benepass Card: Even more eligible purchases are approved in real time through Benepass’ fully owned card decisioning technology, helping reduce false declines and create a smoother checkout experience. Employees can tap, swipe, or insert their card for consolidated pre- and post-tax spending on eligible purchases globally.
- Near-Instant Claims Reviews: Employees submit receipts in any language and receive reimbursement decisions in as little as 3 to 5 seconds. Claims are auto-approved using AI-powered automated receipt review. Human specialists handle complex cases to ensure accuracy and compliance.
- Personalized Benefits Hub: New enhancements rolling out to all customers this year will help employees discover relevant merchants and spending opportunities based on their goals. Improved search, curated content, seasonal promotions, embedded discounts, and targeted campaigns will make it easier to maximize available benefit dollars.
Today, 86% of all transactions on the Benepass platform are approved instantly, through auto-substantiated card transactions and instantly approved reimbursements. These latest enhancements are expected to further increase these auto-approval rates.
“We are witnessing a massive shift: employees no longer tolerate clunky corporate workarounds for benefits when the rest of their financial life happens instantly,” said Mark Fischer, Co-Founder and Chief Product Officer at Benepass. “You can buy groceries in one tap or easily put a card on file to pay for a monthly subscription. Your health and wellness benefits should work exactly the same way. We’re erasing the friction of false card declines and delayed payments so that modern benefits finally match modern consumer expectations.”
The enhancements reflect Benepass’ broader vision of building a benefits platform that feels intuitive from the moment employees receive funds to the moment they spend them. By combining intelligent card approvals, near-instant claims reviews, and personalized discovery experiences, Benepass is creating a more modern and flexible way for employees around the world to use their benefits.
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