Visa and Airwallex Singapore announce the launch of two Visa Business cards – the Helix Health Card and J World Card under a new collaboration.
These cards are designed to streamline online, outpatient and overseas healthcare payments, creating a novel digital health wallet and payment product and a new class of Health-FinTech solution.
Health Technology (HealthTech) is a nascent industry and is associated with digital software products to address inefficiencies and reduce costs in the delivery of health services to the community.
Jebhealth, a Singapore-based Health Technology (HealthTech) company, is founded on a mission to overcome challenges associated with accessibility, accuracy and affordability through innovation and technology.
During COVID times, Jebhealth was involved in high-profile COVID-19 response projects. The company is a MOH-authorised distributor of Standard Q SD Biosensor Antigen Rapid Test kits and an issuer of verifiable notarised HealthCerts, or Digital Covid-19 Certificates, in partnership with GovTech Singapore to enable safe travels.
“One thing we observed during COVID times was that medical and healthcare payments, whether transacted locally or overseas, were difficult to facilitate and costly. There is an access hurdle for new medical services that are traditionally not covered by insurance and third-party administrators. Alongside this, there is an inherent productivity problem when it comes to claims assessment and processing,” says Jimmy Boey, CEO at Jebhealth.
With these Visa Business Cards, employees and underserved worker communities no longer need to pay upfront for medical bills, which saves time for organisations on reimbursement and manual reconciliation.
Employers and HR professionals can remotely manage Cards via a web portal in real-time for pre-hires and employees, who can provision the Cards natively to their Google Pay and Apple Pay on their own without the need for physical medical chits or additional identity proofs.
The Helix Health Card is pre-set for use only in the health and medical merchant code categories, and transactions outside of these categories are automatically blocked. All sales receipts can also be matched against these transactions and verified conveniently.
The J World Card is a more flexible enterprise solution in harmonising and administering employee benefits, especially those on self-funded schemes.
The company can decide on the approved categories and transaction parameters in advance. This eliminates the typical 60 to 90-day claims disbursement wait time facilitated by traditional third-party administrators and can improve corporate productivity by more than 80%.
