InComm Payments, an Atlanta, GA-based payments technology company, acquired Zenda, a Palo Alto, CA-based developer of employee health and benefits solutions known for its innovative health savings account (HSA) and flexible spending account (FSA) platform.
The amount of the deal was not disclosed.
Led by Waqar Hasan, CEO, Zenda provides a self-driving health spending account platform, designed to improve employee experience, put more money in their pockets and make program administration easy. The platform features capabilities such as automatically finding missed expenses, automated true up of contributions and optimized tax savings focused on HSA investors. Zenda’s proprietary technology encompasses a core platform, web and mobile employee applications, and a smart debit card.
Zenda’s solutions strengthen the healthcare payments and technology solutions offered by InComm Payments and its InComm Healthcare business unit, such as the Dual Network Benefit Card™, which gives Medicare and Medicaid health plans the ability to add more than one supplemental benefit, reward or healthy foods program to a single member card. The product enables cardholders to use employer or health plan-sponsored funds to purchase eligible products at more than 66,000 retail locations participating in the company’s over-the-counter (OTC) Network®.
FinSMEs
08/08/2023