Edenred Payment Solutions has announced the launch of a new virtual card number (VCN) product designed to help make claims payouts faster and easier for policyholders. Instead of waiting weeks for reimbursements, customers can now get instant access to funds right when needed.
For years, insurance claimants have dealt with the hassle of paying upfront, filing claims, and waiting for refunds. According to research undertaken by Sollers Consulting and Ipsos, 63% of UK customers consider a quick claims handling process one of their top expectations from their insurer. Edenred Payment Solutions aims to support the industry through its virtual card product, which transforms the claims process, giving policyholders immediate access to approved claim funds through a virtual payment card.
These cards can be easily added to mobile wallets like Google Pay and Apple Pay, allowing direct payments to service providers or merchants without the usual delays. Policyholders can then use the cards at pre-approved merchants tailored to their claim, offering a seamless experience whilst minimising fraud risk for insurers.
Already live with a large multinational French insurance company, this solution has allowed insurers to issue cards quickly, track transactions, and maintain consistent branding on their digital card.
The implementation can be replicated for new clients in as little as two months, including agent training and creating a customised dashboard tailored to their needs.
The Payments Association
St Clement’s House
27 Clements Lane
London EC4N 7AE
© Copyright 2024 The Payments Association. All Rights Reserved. The Payments Association is the trading name of Emerging Payments Ventures Limited.
Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
