About Envoy Systems
Provider of electronic transaction processing services for the financial services and healthcare markets. The company captures transaction data electronically at the point-of-service, delivers the data to the appropriate on-line processor for authorization or verification, responds back to the user in a timely manner, and stores the data for end-of-day settlement and reporting. In the financial services market, the company provides banks and merchants with an electronic transaction processing service for a variety of credit, debit, and travel cards. Electronic transaction processing speeds consumer checkout, reduces fraud, lowers merchant transaction costs, and facilitates merchant-to-bank settlement. The principal service currently provided in the healthcare market is the electronic capture and transmission of pharmacy insurance claims to third party payors for on-line eligibility verification and adjudication (i.e. settlement of claims). Electronic transaction processing reduces insurance claim paperwork, verifies cardholder benefits & deductibles, and helps control fraudulent claims and accelerates payment to healthcare providers.