Meet SIGIS-IIAS requirements
We make Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) debit card acceptance easy, creating another competitive advantage for our pharmacy POS partners and merchants. Our host-based BIN lookup supports fast card type identification, and the merchant never has to maintain local BIN files. Mercury's customer support team assists merchants with the Special Interest Group for IIAS Standards (SIGIS) certification process.
Mercury® partners with POS developers to integrate our health benefit debit card payment processing technology. Our solution enables pharmacies to attract FSA/HRA participants' business and facilitate their transactions according to IRS regulations.
Quick Facts about SIGIS-IIAS Requirements for POS payment processing:
- The IRS regulates handling of health benefit card transactions because employers take pre-tax deductions to cover allowable flexible spending account expenses
- Merchants accepting FSA/HRA cards must implement an Inventory Information Approval System (IIAS). The IIAS identifies the following:
- Items eligible for payment with FSA/HRA debit cards
- What combination of items can be sold
- The IIAS eligible item database is maintained by the Special Interest Group for IIAS Standards (SIGIS)
- Visa and MasterCard require merchant SIGIS certification to accept FSA/HRA cards
- FSA/HRA cards can pay only for IIAS-eligible medical reimbursement items
- The merchant’s point-of-sale (POS) system must identify the consumer’s payment card as a FSA/HRA card
