HealthNow – Revolutionising Employee Health Benefits
In the ever-evolving landscape of healthcare, innovation often takes center stage in addressing the complex challenges that individuals face in accessing quality health services. HealthNow, a company that embarked on its journey just three years ago, is a shining example of such innovation. Their mission? To bring healthcare back into the hands of the people.
A vision anchored in accessibility
HealthNow was born from the realisation that the prohibitive cost of healthcare stands as the primary barrier to individuals seeking and utilising the healthcare they need. With this critical issue in mind, HealthNow set forth on a mission to make healthcare more accessible and affordable for everyone by unlocking the ability of organisations to seamlessly contribute to health and wellness of their employees in real time.
The employer’s stake in employee health
One of the key insights that sets HealthNow apart is their belief that employers are the primary beneficiaries of their employees’ health. After all, an employee’s well-being is intricately linked to an employer’s productivity and success. When an employee falls ill, it doesn’t just cost a day’s pay; it disrupts project timelines, delays deliverables, and generates missed deadlines. Employers, therefore, have a vested interest in ensuring their employees remain healthy and have access to healthcare when they need it. Wide ranging research also underpins the positive impact on recruitment, retention and productivity as a new generation of employees put a significant weighting on the benefits offering as part of the total remuneration consideration.
Challenging the status quo
Traditional company-provided health benefits often come with limitations, restricting employees to specific healthcare providers or imposing lengthy and cumbersome reimbursement processes. This is where HealthNow steps in with their game-changing solution.
In partnership with Change Financial, HealthNow is set to formally launch in December, with 4,500 cards going live. This innovative program offers an easily accessible payment card, loaded by employers with a pre-allocated amount of funds that can be added to, or updated in real time. Employers can selectively authorise approved healthcare categories, empowering employees to access the services they need, visit trusted providers, and pay as easily as they would for groceries via the normal payment network.
A vision of preventative healthcare
HealthNow doesn’t just offer a payment solution; it champions a fundamental shift in how employers view and support employee health. Their focus on preventative healthcare, rather than reactive solutions, ensures employees receive benefits tailored to their diverse needs.
HealthNow’s program is adaptable, making it an ideal solution for companies with large and diverse teams. The program stands out because it benefits a 20-year-old in the same way it does a 60-year-old, putting the power in the hands of employees to choose where they spend their allocated healthcare funds. As the team at HealthNow say “nobody knows your employees like they do”.
The success of the HealthNow program lies in its simplicity and the autonomy it grants to employees. Utilisation of the program measures its effectiveness, highlighting a growing preference among employees for known and trusted healthcare providers. With low utilisation of current employer Employee Assistance Programs (EAP), HealthNow’s approach ensures employees can choose healthcare solutions that align with their preferences and needs.
A global outlook
The imminent launch in New Zealand will see HealthNow become Change’s first Prepaid card program client in New Zealand. With an initial distribution of over 4,500 cards, this is just the beginning with the future of HealthNow filled with possibilities and transformative potential.
Looking ahead, HealthNow is poised for international expansion and they’re about to commence a capital raise to support these expansion plans. HealthNow is driven by a powerful team, with their executives, board members, Chairman and company advisors, all being a collective force of successful entrepreneurs, business leaders and CEOs, who are all passionately driving the HealthNow proposition.
By championing preventative healthcare and empowering employees, they’re revolutionising the employee benefits landscape. For investors seeking an opportunity to be part of this remarkable journey, HealthNow is a company to watch.
Change Delivers Cards and Buy Now Pay Later capabilities for Philippine’s largest bank
- BDO is the Philippines largest bank with with total assets of US$70 billion and more than1,400 operating branches and 4,400 ATMs nationwide
- BDO leverages Vertexon for managing its card programs and services including
- Mastercard, Visa, UnionPay, Amex, JCB, Diners card schemes
- BNPL features for its Major Purchase and Installment card products
- Dispute Management System
- Recently upgraded to the latest version of the Vertexon platform
- BDO utilises PaySim, Change’s payment simulation and testing solution,.
A key customer of Change, the Philippines’ largest bank, BDO Unibank, Inc. (“BDO”), have integrated many of Change’s Vertexon payment solutions to issue and maintain their card programs and merchants. BDO also utilises PaySim, Change’s payment simulation and testing solution.
BDO is the Philippines’ largest bank with total assets of US$70 billion and one of the widest distribution networks across the country consisting of more than 1,400 operating branches and over 4,400 ATMs nationwide.
A senior vice president of BDO shared the following testimony:
BDO on the latest version of Vertexon
In October 2021, Change completed BDO’s card platform upgrade to the latest version of Vertexon. This upgrade offers BDO the latest card payment technology, including BNPL features.
BDO’s Credit Card Systems Team commented: “We had a very successful upgrade to the latest Vertexon platform version with the upgrade experience seamless for such a major undertaking. The new version added expanded features and at the same time carried over bespoke business functions that give us market leadership. Change’s technical team has time and again proven their proficiency and allowed for an efficient project
Vertexon powering physical and digital card payments
- Change’s Vertexon power over 450,000 digital and physical card products for ME
- Features include Apple Pay, Google Pay and other contactless payment options
- Virtual cards can be delivered to ME customer wallets within minutes
- Change is working with ME on its technology and solutions roadmaps
- New transaction streaming technology being delivered to support ME’s Open Banking and Consumer Data Right (CDR) initiatives
Partnering for the payment revolution
Leveraging Change’s Vertexon payments technology, ME Bank (“ME”) has rolled out over 450,000 innovative debit and card products to its Australian customers. Using Change’s PaySim payments simulator and testing platform, ME has also ensured its products are stable and scalable before being released to market.
ME’s card products include the Buck card, a digital and physical Mastercard debit card and Frank, a low rate physical and digital Mastercard credit card.
ME and Change work closely together to improve the bank’s card platforms, including transaction streaming, to support Open Banking and Consumer Data Right (CDR) initiatives.
The future is open, digital and now
Sharing his thoughts on the partnership with Change, ME Bank General Manager of Core Banking, Paul Cazaz, said, the bank strives to bring innovative products to customers.
“We are very proud of our Buck and Frank cards. Partnering with Change to deliver the digital wallet capabilities has been rewarding and timely, given the global pandemic is driving cashless payments,” Cazaz said.
“We have a strong partnership with Change and we are excited by their technology and solutions roadmaps.
“Currently we are working with Change on our next range of products in order to better serve our customers in the evolving digital payments landscape,” he said.
ME’s current card features
ME’s Buck card can be delivered to a customer’s digital wallet in five minutes, allowing them to use the EFPTOS and Mastercard payment networks almost instantly, and without waiting for a physical card. As well as automatic refunds for Australian ATM fees, Buck comes in a choice of colours that are inspired by Australian banks notes.
Available in black or white, features of ME’s Frank card include the ability to add additional card holders, a 55-day interest free period as well as access to Mastercard’s Priceless rewards program.
The Buck and Frank cards are connected to Apple Pay and Google Pay, allowing customers to leverage their iPhone, iPads, iWatch, Android phones, tablets and smartwatches to make payments in store or online. Buck and Frank also support digital payments using Fitbit Pay and Garmin Pay, allowing ME cardholders to pay with a tap of their wrist, while on the run.
The digital and security features of the Buck and Frank cards include:
- EMV chip for contactless payments
- Mastercard® Identity Check™
- Apple Pay
- Google Pay
- Fitbit Pay
- Garmin Pay
- Card Lock via Mobile App and Internet Banking